I'd Rather Be Safe with a Fractional Residence
Buy-to-let investors on the Costa del Sol are learning a painful lesson from their Spanish investment in the holiday rentals market.
British owners whose property values are already under threat are facing a fresh crackdown by Spanish tourism and tax authorities over 'unlicensed' letting arrangements with holidaymakers.
Shares in major Spanish property companies slumped by around 20% late April due to oversupply and the recent euro interest rate rise has added to the mortgage misery.
Many of the 300 000 British investors in the Spanish property market have sought to use their purchase as a buy-to-let investment. However the vast majority of flats and villas cannot be legally offered for rental because very rarely does the tourism authorities license them.
A spokesman for the Spanish Ministry for tourism said "nearly all are not licensed, which means letting them to tourists is illegal"
Palma lawyer, Sebastian Stalter who specialises in advising foreign clients about property purchases in the area warned "Many developers don't give accurate information about what their properties can be used for and it's very rare that apartments are licensed for tourism."
Fractional owners don't have this problem because one only purchases a proportion of the property based on estimated usage, hence rental income is not required - no wonder fractional residences are becoming more popular.
Articles
Fraction Ownership:
Are You A Fractional Lifer?
Life is all about living
Sharing in the dream
Transumerism- the luxury lifestyle revolution.
All My Possessions
Fractional Ownership v Timeshare
Turn the Pound into your Dollar advantage
What is Fractional Ownership?
Our Top 10 Favourite Fractional Life Deals
Fractional Business Sense
Aircraft & Jets:
Can't afford that jet? Rent it
How Private Aviation Works
Joining the Jet Set
Art:
Fractional art donations prove charity starts at home
Boats & Yachts:
Fractionalize This
Classic Cars:
Fractional Life hits Le Mans
You've Always Loved Cars?
Why not rent?
Getting the most out of your fractional car club experience
Classic Car Club Feature
Corporate Hospitality:
So Long to the Suite Life
Destination Clubs:
Bear Mountain Resort - A View from Paradise
Fractional Ownership: Why the Boomers will change second home ownership in the US
I'd Rather Be Safe with a Fractional Residence...
Destination & Private Residence Clubs
Middle East Leisure Real Estate Market Booming
Handbags:
Swap a Fendi for a Furla
Helicopters:
Flying without Wings
Luxury Vehicles:
Denver RV show ready to roll
Properties:
Saving Homes, Homeowners and Banks Through Fractional Ownership?...
Fractional Ownership: Why the Boomers will change second home ownership in the US
The Benefits of Fractional Ownership in Private Residence Clubs
Why Fractional Property?
Keep The Door Open
Fractional Ownership? We'll have a piece
Middle East Leisure Real Estate Market Booming
Racehorses:
Running Down a Dream
A Horse by The Name of Fractional Life
Supercars:
Ascari Racing Festival Weekend
Fractional Life hits Le Mans
So Why Not Buy?
Supercars- The cars of 2006/7
Let's Take The Lamborghini
Vineyards & Wine:
Fractional Vineyards and Wine
