Enter into fractional property ownership 'with eyes open'

Fractional ownership deals can be beneficial to some, says one expert, but being fully acquainted with the terms and conditions is essential.

An expert has recommended that people opting into fractional property ownership deals in Cape Verde or elsewhere seek the right legal advice and decide whether it is the best deal for them before committing.

Linda Travella, a spokesperson for the National Association of Estate Agents (NAEA) International, advises those going into fractional ownership deals to ensure that they are not simply "dressed-up timeshares".

She added that, in the current climate, such agreements are "not necessarily the way to go".

"The economic downturn means that you can easily find a property for 100,000 euro [£85,857.10] and even for 50,000 euro [£42,915.24] in some countries at a very good price," she explained.

However, the expert added, for some people, a fractional property ownership could be ideal for obtaining a holiday home, but doing everything through the correct channels is essential.

Website FindaProperty also recommends that legal checks, allocation of time and any potential selling barriers should all be fully investigated before signing on the line.

This article has been brought to you be Sambala; the developer for Cape Verde Property.

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