Fractional Ownership News
Fractional Paris opens new property
Fractional Paris, a division of Paris Property Finders, is one of a handful of companies specialising in Parisian fractional property and has just completed renovations on a 2-bedroom apartment featuring a private terrace, in the heart of the historic Marais.
A similarly appointed apartment with outdoor space could cost today's buyer well over €1,100,000 plus the associated headache to purchase, renovate and furnish. Fractional Paris is offering a 1/12th share with the right to four weeks of use a year, in perpetuity, for €120,000. The price includes the all acquisition costs, renovation and furnishing, and legal and financing fees.
"Vacation property can be prohibitively expensive and a lot of work to manage from afar. Especially in the current market, fractional ownership is an exciting proposition as it makes it possible to live the good life for less; owners enjoy a designer Parisian pied-a-terre to entertain friends and family and someone else handles all the hassle - all for a comparatively small cost," says Laura Sanders, Director of Sales at Fractional Paris.
7 rue Malher mixes modern touches with French antiques and natural stone finishes dominate the apartment while a subtle layering of patterns, prints and antique details give the apartment a glamorous edge.
"Owning a luxury asset outright is not always the best use of your money - and certainly not in today's climate. Our buyers get a gorgeous apartment in one of the best neighborhoods in town, for only a small part of the cost of full ownership. And then realize the appreciation when the property - or even their individual share - is sold," continued Ms. Sanders. "I'm happy that we're able to offer a win-win to our clients in this market, and ecstatic that it turned out so beautifully."
29/10/08
