Michael J. Tolan , Ceo World Class Group, Co- Founder of Time4sharing.org
NEW TRENDS IN REAL ESTATE TEMPT MIDDLE EAST DEVELOPERS TO STORM LONDON SEMINAR FOR SHARED ADVICE
As the clouds of prosperity evaporate from the investment Mecca of Dubai, many property developers are scratching their heads as to where the next big market might be.
Many would be surprised it may be in their own backyard.
The property market has experienced its fair share of turbulent cycles over the past 40 years in a variety of markets, but few remember such a epidemic of doubt in the minds of investors and consumers on a global scale.
However, new trends in real estate packaging may provide some developers with a ray of hope and a positive cash flow, thanks in part to leaders in the newest trend in real estate sweeping the globe.
Piers Brown, founder of Fractional Life magazine, a pioneer in the shared ownership concept that includes private jets, luxury cars and second home properties believes that the sharing of assets will become more and more popular over the next few years as consumers wake up and smell the coffee.
Today over 100 projects in Europe are selling some form of a fractional offering, and that will increase over 25% in 2010 as more and more developers and consumers merge together in that magical space where supply is created to meet the demand, says Michael J. Tolan, of World Class Group. Fractional Ownership has been a popular product in the real estate second home market in the USA for over 10 years, with many well known companies such as Trump, Hyatt, Four Seasons and others offering their own special recipe in luxury lifestyle ownership.
“Fractional Ownership provides a perfect solution to consumers who desire to have a foothold in there ideal getaway destination, without having to foot the entire acquisition costs, as this is also shared by other partners who also share the usage of the asset” he said. “ Typically a consumer will acquire from 1/4 to 1/15 of the equity of the property, allowing them to use the holiday home only for the time they actually would need it, or have the added advantage of placing it into a rental revenue pool” he said. “ This asset sharing concept is simply where the smart money is moving” he added.
Fractional Life will host one of Europe’s Largest Forums this year in London from the 18 and 19th of February, 2010.
The conference will be powered by some of the world’s key experts on Fractional real estate, and case studies will shared with the audience. Last year, over 300 attendees from 12 countries were on hand and this years conference promises to shine with success stories from Spain, Thailand, and many other resort destinations that typically sold whole ownership in the past.
World Class Group will be organizing delegations from the Middle East, namely Dubai, Egypt, Lebanon and Cyprus to attend a this first hand look at how other successful developers have included a fractional component into to their overall real estate offering.
Legal experts will also be hand to field questions as to how consumer protection and structures that provide integrity must be created to attract consumers to invest in this newest alternative in property ownership.
Tolan believes that once the educational process meets the mindsets of both consumers and developers, more home grown fractional developments will begin to spring up in a new frontier market, the backyard of property development locations. This will be possible when the developers understand that this type of product must be up market, seamless in usage plans and well managed. Companies such as the Registry Collection are leading the market of more stylish top end fractional developments by adding a portfolio of spectacular year round lifestyle benefits as icing on the cake.
World Class Group will be releasing a complimentary buyers introduction guide to fractional ownership at the close of the Fractional life conference, The Power of Property Partnerships, as a free download from their website.
Photo:
http://www.prlog.org/
