Fractional ownership in Italy: luxury housing is now more affordable

Fractional ownership of real estate in Italy is a relatively new, but already quite a common approach to the issue of ownership of apartments, houses and villas in the resort areas of the country. The essence of it is that each co-owner has the right to use the real estate in a limited period of time. The number of participants can vary from 4 to 52 people. Such separation is not accidental: the upper limit corresponds to the number of weeks in a year, so one of the co-owners may hold in the property seven days per year. The lower limit is also quite logical: separation of the property cost in less than four parts is not very profitable, and it's unlikely that potential co-owners of the residence will need more than three months of the year for living in real estate. Although there is an exception to every rule.

Fractional ownership is ideal for those who purchase real estate in the Italian resort areas for holidays and still wants to save payments of operating expenses. Savings is obvious. For example, a magnificent villa on Lake Maggiore value of €850,000, acquired in the six owners of fractional ownership, will cost about €141,667 for each co-owner with staying for two months. The principle is simple, and when used properly, luxury property in Italy becomes more available to the Russians.

Fractional ownership in Europe is only gaining momentum. However, experts predict the success of initiatives and hope that this scheme will bear fruit, and the elite households market will revive. If earlier a fairly large amount was required for real estate in Italy, and the demand was very limited, now situation is changed: buying a luxury villa has moved from the category of fantasy into reality. Moreover, fractional ownership can also be used for investment and luxurious vacation.

New schemes usually cause fear and hardly take root in the market, but now is another situation. What causes such popularity? The fact is that fractional ownership removes financial barriers that previously limited the demand for luxury properties, and makes the most transparent purchasing process and terms of property using. There is possible option to lease, but it is less common - the risk of damage the property is often outweigh the potential benefits. Expenditures for maintenance and property taxes are also divided between the owners, and organizational issues are taken on the management company. It's rather conveniently and economically, which is important in our difficult times.