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Fractional Ownership is an exiting development in purchasing property as a group. Fractional Ownership is essentially a way of owning a part share in a property, depending how many people are in the group that purchases the property this will reflect the percentage of the property you own. Fractional Ownership should never be mistaken as a form of time share, with Time Share you are buying time for use of the property which is owned by someone else. With Fractional Ownership you actually own part of the property, example, if 2 people own a property then you would own 1/2 if there are 15 owners of the property then you would own 1/15 of the property. If the property is to be sold then you would receive 1/15 of the sale price which should be more than you actually paid for your share. With land and property in Crete being on a steady rise many people are looking towards Crete as a place to invest into property, looking to the future for that higher return for their investment.
You have 25,000 Euros which you decide to leave in the bank in a normal instant access savings account, which means you can draw on it at anytime so long as you do not go below a certain limit because if you do you will not receive your 3.00% . For this investment you are making to the bank, for the first year he will pay you a special rate of 3.00% AER variable which is payable to you at the end of a year saving. This would be 750,00 Euros less taxes, after this year keeping your money in the bank you would receive only 1.50% AER variable on your savings. So if you do not draw from your money for 2 years you will receive in interest 1,136.00 Euros less tax which will bring your total interest earned over 2 years to below 1000,00 Euros.
Banks use your money to invest in property and other high paying return investments, the bank then takes out his cut and you get your smaller cut. The unbelievable situation here is he will make your percentage smaller 50% smaller if you continue to invest into the bank. More type of accounts are available which pay a higher rate of interest but this usually means locking your money into the account for a number of years.
Banks use your money to invest in property and other high paying return investments, the bank then takes out his cut and you get your smaller cut. The unbelievable situation here is he will make your percentage smaller 50% smaller if you continue to invest into the bank. More type of accounts are available which pay a higher rate of interest but this usually means locking your money into the account for a number of years.
What Is Fractional Ownership ?
Save And Invest !
Thank You Say's The Bank Manager