Timeshare or Shared
Holiday Ownership should not be seen as a traditional
investment opportunity and historically timeshare property prices fall
rather than increase. However, timeshare can offer a lifetime of
holidays. Timeshare can offer excellent accommodation in resorts with a
wide range of leisure facilities and most owners are satisfied with
their investment.
Which Timeshare?
The original concept of shared ownership of an apartment sold in fixed
weeks, has generally now given way to investment in weeks in a
particular season at a resort or holiday “points” that can be exchanged
for accommodation at one or more resorts or for other holidays. Some of
these are legitimate and offer the opportunity for good value holidays,
unfortunately others are little more than scams. This together with
high pressure sales techniques employed by some companies has given the
industry something of a bad name.
The good news is that the low prices and poor reputation mean that the
wise investor can often now purchase timeshare resale weeks at a
fraction of the original list price.
How to buy?
You can buy directly from the timeshare or holiday club at the resort,
via resellers or privately, some owners now even advertise weeks for
sale on EBay.
Generally timeshare resellers offer lower prices than the timeshare
companies but the latter will often offer you a free or low cost
inspection visit to the resort so you know what you are buying.
If you buy privately, remember that the timeshare management company
will have to transfer the title to the timeshare week to you and will
require the seller to send them their owner certificate probably with a
transfer fee. Unless the purchase price agreed is low you would be
unwise to pay until you receive the holiday certificate but then how
can the seller then be sure that they will get paid? If you do buy
privately do use an intermediary such as a solicitor just as you would
when buying a house.
The European timeshare industry is regulated under
a EU Directive, some other types of holiday ownership are not and
buyers may not enjoy the same protection.
Click here for information and
advice from the UK Department for Business Enterprise and Regulatory
Reform.
Existing Timeshare owners may be
interested in a new free online independent consumer magazine for
timeshare and shared ownership,
Owners Perspective
Useful Links
OTE - Organisation for
Timeshare in Europe
TATOC - Putting Timeshare
Owners First
BBC
News - Holiday Club Closed Down
Timeshare and Holiday Club Scams
We often hear about people who have fallen foul of Timeshare or Holiday
Club Scams. If you have been caught by a scam or
know someone who has, the
UK Office
of Fair Trading would like to hear from you.
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