UK fractional property gains momentum
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Fractional property in the UK is enjoying a boom in popularity as buyers investigate shared ownership holiday homes in areas such as Cornwall, Devon and Scotland.
Barrasford & Bird Worldwide has made several sales at its Tregrena Barns scheme in Cornwall, which is the first of several developments the company is planning for the south-west.
Prices at Tregrena Barns start at £39,000, and interest has come from Europe and British ex-pats in Hong Kong. “Who'd have thought that UK holiday homes would attract foreign buyers but they are,” managing director Robin Barrasford told OPP.
In contradiction to the received wisdom that fractional holiday homes would never work in the UK due to the climate, Nick Turner of The Registry Collection said: “Around 40% of the shared ownership market in Europe is from British buyers who are tending to have holidays closer to home. The UK has got the biggest potential of any market and there are some really nice destinations in places like Devon and Cornwall being developed. They have a big audience who can drive there and don’t have to worry about the exchange rate.”
