Fractional ownership rising in Brazil

The number of property investors purchasing fractional and timeshare units in Brazil has grown by a significant amount within the last 12 months, it has been revealed.

Overseas Property Professional (OPP) has reported that sales of the fractional properties shot up by approximately 60 per cent last year, with the increasing South American tourism trade cited as one reason for the rise.

The figures, released by holiday exchange firm RCI, come despite the company posting an overall sales loss of 12 per cent during 2009.

Mario Ocampo, public relations director for RCI Latin America, told OPP that the rise in interest in the region could be due to the recession in North America, as the markets had not been as negatively affected by the economic troubles.

"The involvement of European investors has also been very important in the Latin American market," he explained.

"Part of the Brazilian growth in particular is due to European investment."

Numerous property portals have already predicted that the South American destination is set to be a top seller during 2010.

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