Fractional Ownership - currently the hottest buzz word on everyone's lips. This new asset sharing concept has recently caught the attention of a great amount of affluent holiday makers in South Africa. Holiday makers who have always wanted to invest in leisure property now have the perfect opportunity, not only is it a smart financial move but the management and maintenance is no longer a hassle.
The overall growth in leisure property has been so substantial over the past 5 years that it has virtually made it impossible for the average household to own property on a holiday resort. Fractional Ownership enables the average household to own a share of their dream holiday home at a fraction of the price. Everyone wants to enjoy the benefit of property ownership,especially in this favourable period of capital growth in the property market.
Since June 2007 over 40 intermediaries have applied for membership with SAAFI (The South African Association of Fractional Ownership), a regulatory body that was established with the objective to protect the interests of the general public. This is not supprising when taking into account that a foreign family can now enjoy property ownership in South Africa and utilise their investment 4 weeks per year, who knows how many foreigners will find this joint ownership model attractive upon their visit to South Africa during the 2010 FIFA World Cup Tournament.
Fractional Ownership is currently the world's fastest growing property sector and has grown by more than 150%,year on year for the last 3 years in the U.S.A alone.
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