Brand Story
29 Jul 2022, 00:13 GMT+10
Investing in a home-from-home is an aspiration for so many, and the opportunity to buy property in the beautiful Mediterranean climate can provide a real transformative lifestyle.
There are countless factors to consider when reviewing the available options, from exposure to property tax to investment capital required, and ongoing service charges. The Arrilo team has reviewed the pros and cons of co-ownership vs purchasing a Spanish second home independently, for a more informed choice.
When thinking about a second home or spending a proportion of time relaxing in a peaceful, warm environment, often finances and taxes are not always considered, but are a crucial consideration.
One way to view fractional ownership is the initial cost of investing in an idyllic prime location property is split equally, with reduced ongoing costs and tax liabilities. Fractional ownership allows purchase of a property anywhere in the world with a group of fellow owners, sharing out all the associated costs in a manageable way.
There are some incredible benefits, but one consideration is the ability to acquire multiple part-ownerships - a proportion of a gorgeous villa on a tranquil golf resort, a city apartment in a vibrant metropolitan area, and even a share in a peaceful country retreat, all for less than the cost of one second home.
The core advantages of fractional second home ownership include:
Property has long been regarded as one of the most stable long-term investments, with gradual appreciations that can tie into a retirement plan. Fractional ownership is significantly lower risk than full property ownership and more profitable than a timeshare.
Fractional ownership is not the same thing as a timeshare. Primarily partial owners legally own a proportion of the property and will be formally named on the deeds. A timeshare is not an investment - you might be allowed to sell, depending on the terms, but the rights to use a property for an allotted time will not appreciate, so you're very unlikely to get more than you paid. Buying a property share works differently, legally registering the owners asset. Portfolios will increase as the property market grows in each location.
As an investment, there are several points to be aware of if you're weighing up full vs fractional ownership, as buying a property overseas can be expensive with Spain's taxes and fees, including:
When choosing co-ownership, the purchase process is fully managed. Ongoing costs are also split, so co-owners pay a fraction of the maintenance costs and own a home in a premium location without heavy charges for utilities, landscaping and cleaning that are associated with full property ownership.
Arrilo specialises in fractional ownership agreements in some of Spain's most stunning areas, with amenities such as private pools, panoramic ocean views, contemporary decor, and sought-after villas close to eminent golf courses.
Arrilo promotes fractional home ownership as a reliable, accessible investment allowing clients to experience Mediterranean living without the high costs.
Media Contact:
Egle KlemenyteHead of MarketingArrilo.com
Publicist: Woya
This content is published on behalf of the above source. Please contact them directly for any concern related to the above.
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