Fractional ownership rises by 4pc
Fractional ownership rose by 4 per cent in 2011, according to a new report.
The assessment of the market sector analysed activity in America, Canada, the Caribbean and Mexico and discovered that there are “green shoots of recovery” beginning to appear.
98 developments had been classed as active, a drop from 104 in 2010, but in total, US consultant Dick Ragatz recorded 1,925 fractional transactions across 2011, a four per cent increase from the year prior to. The total value of all sales also rose by 4 per cent, reaching $552m.
“Substantially this is the very first incre ase in general volume considering the fact that the peak year of 2007, when sales totalled $2.three billion,” adds Fractional Life.
Purchasers are adopting a “wait-and-see attitude” due to the financial climate, suggests the survey, but only 4 per cent of respondents saying they would rather personal a entire property. The figures are being hailed by the sector as a positive sign that there is nonetheless a future in fractionals.