Fractional ownership 'will increase in popularity'

The popularity of fractional property ownership schemes is set to increase during 2009, it has been claimed.

According to one foreign property specialist, the concept - which involves buyers purchasing a percentage of a property and sharing use of the home with other owners - will become more popular over the coming months as purchasers begin to choose this option over full ownership.

"We're still selling some property but certainly nothing like the scale we were doing. The market for full ownership is not what it was," marketing director of Select Property Helen White stated.

She added that the firm is launching a new shared ownership scheme to give potential buyers the opportunity to invest in overseas real estate, noting such models are likely to gain in "prominence" during this year.

Fractional real estate schemes may appeal to investors looking to make a purchase in Bulgaria, where, according to recent figures from weekly publication Stroitelstvo Gradut reproduced in the Sofia Echo, the price of real estate it falling.

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