Fractional ownership in Europe on the rise

The fractional ownership market in Europe saw an increase in sales towards the end of 2009, it has been reported.

The Best Group, a fractional consultancy, reported £2 million worth of sales across Europe since the start of November, Overseas Property Professional (OPP) has stated.

Best Group CEO Brad Lincoln told OPP: "What has made completions accelerate is a sense that properties could become more expensive in six months.

"Part of the driver is people are seeing fractional finance coming through and are expecting prices to be driven up as the world comes out of the economic downturn."

OPP suggest that fractional ownership companies in Portugal may have taken advantage of the rising cost of property in the country.

While other developers like Pestana, who reported a continued increase in transactions since 2007, taking advantage of an uptake of fractional finance.

Investment consultancy Property Frontiers recently described Portugal as being a "safer" market to invest in than its European neighbour Spain.