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Could fractional ownership help revive the Italian property market?

Date : (News Section: Italy)

Could fractional ownership help revive the Italian property market?
Fractional ownership is growing in popularity and is being heralded as one way to help revive the Italian property market. The Global Property Guide reported that more and more people are looking to move to the Mediterranean country, especially in retirement, but with the financial crisis meaning many are unable to raise the money for a deposit, entering the market can prove difficult.

Fractional ownership is one solution to this problem and is already popular in the US. Greece, Portugal and Spain are also beginning to embrace the policy, thanks to the financial crisis. Fractional ownership works by enabling people to purchase a deeded share in a residence, giving them access to a property for a set number of weeks per year and all amenities.

The scheme is praised for it simple, stress-free and potentially profitable approach to home ownership and with Italy's property market in need of regeneration, this could prove to be just the ticket to removing the finance barrier. This will be good news for countless retirees, who choose to flock to Italy year after year. According to AARP (formerly the American Association of Retired Persons), Italy is a must visit destination and one of the top places for people to retire abroad.

Le Marche is just one area proving popular among retirees and Dawn Cavanagh-Hobbs, founder of family-run company Appassionata, explained just why the region is so attractive. "Bordering five other Italian regions as well as the Adriatic Sea, Le Marche is said to showcase all of Italy within one region. Unspoilt countryside, fantastic seafood and glorious sunshine abound - who could resist falling in love with such a place?" she asked.

Mrs Cavanagh-Hobbs and her husband Michael have developed two unique homes for fractional ownership on the Estate Giacomo Leopardi in Le Marche. The estate features vineyards, olive groves, a truffle orchard and a lavender plantation. Those that partake in fractional ownership can enjoy the benefits of these, not to mention the joy of the plots extensive grounds.

Article by +Danny Bance on behalf of

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