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Upbeat Portugese fractional ownership awareness day
Date: 2011-09-19 11:47:48
Piers Brown reports from Portugal.
Last week the Registry Collection’s series of European fractional awareness days for 2011 visited the Quinta Da Marinha Hotel (left), Cascais, Lisbon – the last roadshow session. There was a strong collective of around 40 delegates including fractional real estate professionals and many Portugese developers keen to share and learn about the potential for fractional ownership sales in Portugal. These included Oceanico Group, Colinas do Alvor SA, Vale d’Oliveiras Quinta Resort and Spa, Pine Cliffs.
The Registry Collection’s Susan Duncombe and Matt Holmes welcomed delegates before handing over to Philip Bacon, HVS for a comprehensive Fractional Ownership 101 overview. Philip explained where the fractional model sits within the real estate/hospitality marketplace and gave some insight as to why offering fractional purchasing options could make sense for developers, particularly in the current market.
The next session focused on Business Planning for fractional ownership with panelists Ioannis Verdelis, The Best Group; Philip Bacon, HVS and Len Silverfine, The Big Idea Company, highlighting some dos and don’ts to consider when incorporating fractional ownership as a resort sales option.
Later that morning, Eric Gummers of Howard Kennedy presented on the basic points developers need to follow as a result of the 2011 EU Shared Ownership directive from a fractional legal perspective. This was followed by a presentation from Chris Allen of Citadel Trustees endorsing the need for quality ownership structures, consumer protection and the benefits of using a trustee within the legal framework of fractional ownership sales.
After a short break for coffee, David Blair of Generator Systems presented on the need for the industry to embrace technology and video to drive incremental sales, productivity and ROI.
Len Silverfine was next to present on the future of the fractional business in Portugal and drew comparisons with how the fractional ownership market within the USA had grown since the early noughties to a peak of $2.3 billion USD in 2007 and the lessons learnt during this time.
The first afternoon session, ‘The Potential for Fractional in Portugal’ was lead by Portugese resident, Sergio Palma Brito of ILM Group, with contributions from Piers Brown of Fractional Life and Philip Bacon. Sergio reasserted the need for developers to embrace fractionals as a way to generate incremental sales and the audience were reminded that the majority of European fractional real estate sales success had already been achieved by developers in Portugal. Ioannis Verdelis was next to present on what fractional ownership products are selling in today’s market, followed by a presentation from Piers Brown on "Speeding Up In The Slowdown" with a special emphasis on social media and online marketing for the fractional ownership sector. Susan Duncombe then summarized the day bringing the event to a close before lunch.
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