With the latest trend towards fractional ownership rapidly becoming entrenched in South Africa as an affordable way to own equity in quality leisure property, the very first national Fractional Ownership Conference is to be held on 15 August 2007 (10am-4pm) at the Protea Hotel in Stellenbosch, Western Cape. This promises to be an extremely informative symposium for developers and promoters wishing to enter this fast growing industry.
Hosted by www.fractionalownership.co.za, currently the largest fractional home ownership portal in South Africa and a member of SAAFI (South African Association of Fractional Intermediaries), this event - which is to be held annually - has to date attracted some 150 delegates from around the country, who have already registered to attend.
Leading stakeholders within the SA fractional ownership market who will participate in the conference include SAAFI, IFA Hotels & Resorts, Rode & Associates (well-known South African valuators), Seeff and Pam Golding Properties. This year’s conference will cover key aspects of the fractional ownership market in the country, as well as how global vacation ownership markets are performing.
Topics to be covered include:
a.. Defining the sectors of the industry
b.. Trends and performance in Southern Africa and global markets
c.. Why developers are focusing more and more on mixed use developments
d.. Defining the sectors of the industry
e.. Industry regulation in South Africa, legal structures and finance options.
f.. Tax implications for companies as well as investors
g.. Hospitality and ongoing investor management
h.. Fractional ownership re-sales
Comments Werner Geyser, conference organiser and co-owner of fractionalownership.co.za: “There’s no doubt that fractional ownership is the new buzzword in the real estate industry in South Africa. Over the past six months product and sales enquiries on our website have increased by over 130 percent, and we have also identified an additional 35 new intermediaries which have entered the market over the past year as promoters of this dynamic product.
“This is hardly surprising as fractional ownership has high value-for-money appeal for both individuals and corporates. For individuals it’s a cost effective means of owning equity in a quality home which they can use for holidays, and for businesses it’s also ideal for leisure use, executive travel, entertaining clients and as staff or customer incentives. Products start at just R200 000 and range up to around R550 000 for 28 days’ usage per annum. Increasingly, we see that people are seeking a ‘home from home’ type of environment when going on holiday, but without any of the responsibilities or costs associated with wholly owning a home - maintenance, for example, and with a range of facilities and management/support services on hand. Currently developers and intermediaries in the industry are moving towards mixed use developments, providing more of a resort type environment, especially in and around leisure destinations such as coastal areas, the Winelands, and bush and golf estates.”
Adds Geyser: “Fractional ownership means that one can still enjoy the benefits of true property ownership in a prime located and impressive holiday home in an exclusive environment or community. It makes sound economic sense when considering that you only wish to enjoy limited use of the property for several weeks each year - yet it still can be called your own, and enjoyed with friends and family.”
Article from Cape Business News
