Fractional Ownership Property is a way of buying a certain percentage in a property and also only having to pay out for a certain percentage of the running costs of the property.
Basically a property is split in to shares lets say four quarter shares and you can buy a quarter share, with the option to buy more on a later date if so required.
You will have three months of the year alternatively with the other shareholders to use as you please and you will only pay for the three months running and maintenance costs.
This is a good idea at these times of financial unrest and for first time buyers who are finding it hard to get on the property to be able to invest in a property.
Fractional Ownership Property is now becoming available worldwide and is usually found on new complexes with different packages available. It can also be used for buying yachts and things like helicopters.
A special Fractional Ownership Property contract of sale is required and a lawyer must be appointed.
If this option is of interest to you please do not hesitate in contacting us where our experienced property department can give you all the details and guide you though all procedures.
Be safe and secure and fully protected in your Cyprus investment