Rising airfares, currency fluctuations and Europe’s warming climate are enticing families to shun mid and long-haul locations for holiday homes in the UK and Ireland. And more British and Irish buyers are looking for shared ownership property, according to a report by Fractional Life.
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Rather than villas, which they might only use four weeks of the year, parents are saving money by taking the kids to a residence they share with other families a short drive or flight away.
More insights into shared ownership property will be discussed by Firstlight The K Club at Fractional Summit 2010, Europe’s largest fractional real estate conference.
Firstlight The K Club offers one-eighth titled interests in family homes and apartments at Ireland’s number one golf resort in Co. Kildare. We will be meeting potential second homeowners to talk about why our magnificent country retreat has won 14 consecutive years of awards – and why Firstlight The K Club is tipped as one of Europe’s safest places to buy in 2010.
Fractional Summit takes place at the London Marriott Grosvenor Square on February 18-19. To book an informal chat with Catherine Monaghan, marketing director at Firstlight The K Club, email c.monaghan@firstlightkclub.com Or come and be part of the debate as Catherine will be part of a panel discussion at 10.15am on Feb 19.
Your questions answered
Firstlight The K Club this week answers more of your questions about this outstanding shared ownership destination, also the home of the 2006 Ryder Cup.
Q. What does it mean to be a shared owner at Firstlight The K Club?
Catherine Monaghan: Shared ownership has never been offered at the K Club until now. It offers an exciting lifestyle opportunity where owners experience unrivalled levels of luxury and service in Ireland’s leading golf and spa resort.
The shared ownership scheme allows more people to buy at this stunning resort at a fraction of the full property price, yet with all the benefits of your own luxury home, plus full family membership of The K Club with all it has to offer.
Owners have an undivided title deed, allowing resale – inclusive of all the benefits – to a wide audience.
Q. Do you think consumer knowledge about shared ownership is increasing?
I think consumer knowledge is increasing in Europe but that in Ireland and the UK it still has a long way to go. There is a common misconception that shared ownership is timeshare which it is not as it is title-based ownership and therefore possible to resell, will, or bequeath.
Groups such as FractionalLife.com are definitely raising awareness with their annual Fractional Summit taking place in February each year – this is a great forum for consumers and industry experts to get together and share ideas in an open forum.
They also host a Fractional Expo yearly in London which is helping consumer knowledge grow. We need more property journalists to embrace the idea and educate consumers on the differences with timeshare, the different types of ownership (and merits of each) eg. title-based versus company shares; and the rationale in a changed economy, for this type of lifestyle purchase.
Q. Can you offer finance to buy a titled interest at Firstlight The K Club?
We are working with a number of lending institutions to develop a finance opportunity and hope to have more news on this topic in the near future.
Q. What sort of buyer will Firstlight The K Club suit most?
Because of the variety of property types and styles on offer, it is difficult to classify a typical buyer.
The properties range in size from two-bedroom [1,215 sqft] apartments to four-bedroom frontline golf [3,800 sqft] detached houses. The sizes and variety make them ideal for one or two occupants as well as families.
Investor or property agent? Come along to Fractional Summit on Feb 19th at 10.15am to hear Catherine Monaghan, marketing director at Firstlight The K Club.
One-to-one chat with Catherine? Book an appointment on Thursday 18th & Friday 19th February or email your question to: c.monaghan@firstlightkclub.com
Firstlight The K Club: +353 1 610 7111
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