Fractional ownership remains popular

11.19.2010

Owning a vacation home is an aim of many people across the globe, but sometimes the upfront cost can seem prohibitive, and timeshares come with significant drawbacks. But as one developer tells the Toronto Star, it's easier to invest in penthouses for sale in Canada through fractional ownership.

Developer Walter Thompson, who sells property on Lake Muskoka in Ontario, says that fractional ownership is popular among many buyers because it allows them entry into the market along with the added benefits of being an owner.

"You get amenities that enhance your quality of life - the things you don't get at a cottage - at a fraction of the cost," Thompson told the paper.

Fractional ownership gives buyers deeded ownership of a portion of a property, not just a portion of time to use the home. That flexibility allows residents to either use their time themselves or rent it out to others.

Other parts of the world have also found the method to motivate those looking to buy a penthouse for sale or luxury villa. The Tribune recently reported that lawmakers were in the process of altering Bahamanian law to provide for better protections for fractional owners.