An alternative to a wholly owned second home
Innovative solutions to the recession can include fractional ownership of property - typically a second home, where the total cost is borne by multiple parties, so reducing the capital and yearly load on an individual.This ensures that the person who has the money and the inclination to spend on leisure time pursuits does not need to think about too many repercussions.
RCI, the resort affiliation group who deal in timeshare holidays, have gone one step further into this market where they will help in negotiating and making the most of a timeshare home, a deeded property.
According to Radhika Shastry, Managing Director, Group RCI, India, "Shared ownership offers considerable potential for developers, operators and financial institutions. These models offer increased resilience during fluctuating market conditions.
In response to a desire for a high quality alternative to a wholly owned second home, without the associated costs, hassles and responsibilities, sales of fractional homes have demonstrated a market with considerable untapped demand in India.
In the US and Europe this concept has caught on big time, with people exchanging their own fractional home for fractionally held homes in other countries - which is where we come in"
To read more, please, visit - Times Property
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Yeah, with prices so high in real estate, you need to join hands with other to buy a property. Those of you who are waiting for Pune real estate prices to fall further are advised to wait a little longer as builders have lobbied and decided to hike prices marginally (by 100 rs) to scare you into buying soon. they have given all their monies to netas so they need money from you. Wait and watch!!
ReplyDeleteAssembly elections in Maharashtra are due in just another 4-5 months. So wait and watch. Politicians will need more money from the builders :)
ReplyDelete