With the rise in French property prices, simple village house with terrace within 40 minutes of the beaches in a popular Mediterranean South of France region like the Herault now costs from 150,000 euros and up. The 50,000 euro give aways no longer exist.
Breaking News Mediterranean sea view apartments with shared pool coming up for completion end September 2008. The developers share our belief in France’s fractional ownership future and once all the charges and other details have been ironed out we will be marketing these on a fractional ownership basis with no bars - no one has to wait for x amount of shares to be reserved before buying and enjoyiong their fractional ownership property.
In the past people have bought French holiday properties and relied on rentals to pay the mortgage, leaving the owner with use outside the high season. The last two years have seen the rentals market becoming uncertain, and with the rise in property prices even 10 weeks worth of rentals will not cover costs.
It is a fact that 70% of British, American, Irish owned holiday homes in France are used for less than 1 month out of each year. So why pay all the taxes, costs of maintenace etc for 12 months?
Why not buy with a group of like minded Francophiles? Share the costs, share the property, share the pleasure.
Our idea and guiding mission is to provide genuine French fractional ownership opportunities.
1.We will only list offers with realistic purchase price, realistic administration, maintenance, care and change over costs. 2. All fractional offers made through Harmony Ownership must be genuine fractional offers and not disguised time share. Full ownership and control for the owners, no hidden controller or costs. 3. We will give preference in listing French fractional offers where the holding body is a proper French legal company - any foreign company ownership is fraught with future legal, tax and inheritance issues. 4. We will give preference and mark out the fractional French properties which will be wholly owned by a French limited liability company with full control and all shares owned by the fractional share owners.
We have consulted international and French lawyers about the best way/ only way to structure ownership and as this is the beginning of French fractional ownership, it is very important to start in the right way.
Having looked at various French fractional offers that have recently emerged on the internet, we have come down to a very select group that we are happy to list. We had three more but they are now sold out.
However we have clients who have decided that they want a share of different types of properties and they are confident enough to want tpo buy the whole property and then release the equity and time to other like minded people as time goes by. Hence more listings will appear.
We are also happy to find properties that fit the the wishes of a group of buyers. So if you would be interested in French fractional ownership, but are not interested in our present listings, contact us and tell us what you would like. We can find the property set up the owners company, handle the French legal and administrative side, set up a management company ( a simple majority vote of the owners can change the management company at any future date) If we can form a group with the same requirements, then we will let you know and your dream could become French realty!
You will find pages on the site that explain French fractional buying procedure, structure, how weeks/months are allotted and of course the costs.
Remember with French fractional ownership the Harmony way, you are the owner, not some sort of leaseholder or time share victim.
Think about it, a sixth share, entitling you to two months use a year of the simple village house with terrace within 40 minutes of the beaches in a popular Mediterranean South of France region like the Herault costing 150,000 euros, would only be priced at 25,000 euros.
