Bula to Shared Ownership in Fiji
If owning a holiday home in the Pacific Islands is on the wish list but seems out of reach, then shared ownership could well be the way to get a slice of the Fijian property pie.
By splitting the costs of a Fijian property asset with others and having a company share contractual agreement in place, shared ownership offers all the benefits of resort holiday living – with the upside of extra privacy and potential capital gain.
“This is not a timeshare concept,” explains Bayleys Real Estate (Fiji) Limited director, Philip Toogood.
“Timeshare contracts allow you to effectively buy time to spend at a property – rather than purchasing an actual share of the property asset itself.
“Shared ownership allows for multiple owners to jointly own a freehold property, with the use of that property and its amenities allocated proportionately.”
Toogood says the concept of shared ownership has been very popular in Fiji – particularly with New Zealanders who are a mere three-hour flight away from an island holiday.
“It’s affordable with many advantages over staying at a resort – and the added benefit of owning a tangible, valuable and saleable asset,” he says.
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