With a second home by the sea out of financial reach for most families now, the demand for timeshare is on the rise again, according to leading timeshare resale specialists Worldwide Timeshare Hypermarket www.timeshare-hypermarket.com.
Timeshares priced typically between £4,000 and £10,000, for example, are a viable alternative for families seeking luxury accommodation at a resort who are looking to get away a few times a year – without the heavy overheads and commitment that can come hand in hand with freehold ownership.
Despite the state of the economy, Britons continue to treat themselves to the luxury most of us would call a necessity – a rest, and a change of scenery to recharge the batteries.
According to a report in Perspective Magazine late last year, the number of holidaying Britons has risen by around 25% in the last year or so, making it the biggest rise since overseas holidays became part of the British lifestyle in the sixties after commercial jet travel was launched in the fifties.
Luxury timeshares in sun-soaked beauty spots such as the Caribbean, Florida, California and Australia can be found for around £2,500 – multiply that by a hundred and you’re looking at the cost of buying a quality apartment in many destinations, including southern Europe. Even the price tags of freehold homes by the sea in prime spots in the UK including Devon, Cornwall and Poole in Dorset – where the exclusive stretch of beach at Sandbanks attracts the multi-millionaire set – can be eyewatering, reaching into the millions.
“Timeshare is becoming a very attractive option for British families who can longer afford to purchase holiday or second homes in the UK or overseas,” said Philip Watson, Managing Director of Worldwide Timeshare Hypermarket which is a member of the Resort Development Organisation (RDO.org).
“We have experienced a 25% surge in interest in the last year, primarily from families looking with luxury accommodation with sea views but without the millions of pounds needed to purchase them in the UK.”
Worldwide Timeshare Hypermarket says the escalating cost of properties in sought-after beach locations in Britain is fuelling the biggest timeshare boom in 20 years.
Another factor may be influencing the surge of interest in timeshares. In February 2011, the new EU Timeshare Directive came into force across the EU Zone, tightening up regulations on how timeshare is sold and in turn making owning timeshare more hassle-free than it has ever been.
Mr Watson says Worldwide Timeshare Hypermarket has launched a number of initiatives to inform the public about the benefits of buying into the lifestyle, with educational ad campaigns. WTH created the industry’s first iPhone app for owners.
More than half a million Britons own timeshare, approximately 48% of them qualified professionals. One of the most comprehensive timeshare surveys, conducted by a University in the UK a few years ago found that despite negative press, almost 90% of timeshare owners were happy with their timeshares.
WTH also said that many working class families are cashing in on timeshare taking advantage of an affordable getaway for the whole family at half term, the school summer holidays or just a long weekend getaway in between vacations.
Meanwhile, luxury fractional properties in exclusive locations such as Tuscany, the Caribbean and city properties have attracted affluent buyers, some of whom own a share in a high end five star holiday villa in more than one destination – “ski, beach, vineyard”.
Once a buyer has purchased timeshare through WTH they can then exchange into any of about 6,000 accommodations worldwide available through Worldwide Timeshare Hypermarket’s extensive international exchange network.
Timeshare is an eco and economical way to holiday primarily because apartments are not left empty for long periods, and owners don’t have to worry about the financial headaches that can go hand in hand with full freehold ownership. As a viable option to owning a holiday home outright, the surge in demand for timeshares may continue for some time to come. What is also interesting is the change in timeshare owner demographic, which is getting younger.
Mr Watson said, “If the trend continues, more than one million Britons may have timeshare properties by 2014.”
For more information, visit www.timeshare-hypermarket.com