Your Slice of Paradise
to Collective Ownership
Collective ownership means that you share the full ownership of a property with other co-owners.
This could be other members of your family or friends, but in most cases this will simply be other investors
of the Collective Ownership Property.
You own the building as if it were your own - just shared rather than the whole.
This makes it as much an asset as a traditional purchase, but without the worries of property management when you are not there.
The ownership is defined, as with any other property, by the title deed.
This is owned by a single entity such as a Limited Company. The shares in this entity are divided equally between the owners - which are referred to as fractions - typically 10 fractions. This gives you the right to stay exclusively in your property for the corresponding fraction of the year. As you own a share(s) in the company, you can, of course, sell your fraction whenever you want.
The property will be managed by a company established by the developer but funded by the Collective Owners who are free to choose who manages the property. Each collective owner contributes to an annual maintenance fund. Good management is a key aspect of Collective Ownership.
Over many years our specialist partner Realpoint Property have built up a reputation for quality service in the sales of properties and they continue to provide this service in the Collective Ownership world by ensuring we only deliver properties that meet our client's expectations.
Below you will find some background to the Collective Ownership market, how it has come to fruition in Italy and discover what Realpoint Italy considers one of the best collective properties they have seen - the Pinelli Estate.
In the US, fractional ownership has been around for over 20 years, and has been used for both condo-hotels, villas, but also for private jets and yachts. This makes a lot of sense - why have the hassle of full ownership with all the costs of maintenance when you only use something for a few weeks per year.
In Europe this concept has been slow to gain acceptance but in the last few years the interest has increased dramatically. Fractional or Collective ownership is the fastest growing segment of the property market and is rapidly catching on in Italy, Spain, France and Portugal, in fact throughout Europe. The association with timeshare is not justified - with timeshare you own nothing - you just have access to a property for a limited number of years. With a Collective Ownership Property you are a named shareholder of the company that owns the property. Your share holding, or fraction is an asset which can be sold by you at any point in the future or can be gifted in a will to family members.
In order to equitably manage a Collective Ownership Property between owners, there have to be rules for sharing access to the property. This is invariably achieved using a rotating calendar so that you always get a fair share of both the peak seasons and off-peak seasons. Share holding percentage [or fractions] can vary but the usual model is a 10% share, will allow for 2 weeks per year for annual maintenance.
Collective Ownership Property in Italy
Italy, along with much of Europe, is embracing Collective Ownership property. Developers see this as a new alternative to the traditional model of build & sell, and also find that there is much more interest from buyers because of the additional services provided which are so important for Collective Ownership to be successful.
Italian property lends itself to Collective Ownership in two ways. Firstly, there are numerous high-value properties on the market which only appeal to a few very affluent individuals. With Collective Ownership you can buy into a whole property on a shared basis, and have exclusive weeks at a luxury property depending on the number of shares you own.
Secondly there are resorts with lots of facilities such as golf, wine-tasting, 24-hour concierge, pools, tennis, with a property on the Pinelli estate you even have access to a yacht!
Guide to Buying Collective Ownership Property in Italy
As with buying anything, care should be taken that you fully understand what you are buying and the terms of your purchase.
Read more about buying Collective Ownership in Our Guide
Our partners at Realpoint Property have explored the various Collective Property offerings and have concluded that The Pinelli Estate, stand out amongst the rest. Read more below about why.
The Pinelli Estate
The Pinelli Estate extends to over 35 acres on rolling hillsides, at just over 300 metres elevation, facing the Cilento National Park and the Tyrrhenian Sea, with Capri and the Amalfi Coastline on the horizon.
Realpoint Property has been awarded the exclusive right to sell the three unique properties on the estate, nestled amongst the olive groves and lemon trees, each in total privacy from the other, above the historic town of Agropoli and just 90 minutes south of Naples and its international airport, and 40 minutes from the new Sorrento/Amalfi airport opening late 2020.
Visit our specific web pages for more details (below) of these unique properties and how you can secure your slice of paradise.
Collective Ownership at the Pinelli Estate
Properties on the Pinelli Estate are sold as collective ownership.
Through Collective Ownership, you can be one of an exclusive group of ten owners; each with a 10% share in the UK registered company that owns the property.
From £120,000, you will enjoy 5 weeks exclusive annual residency in your own home. You will have all the upsides of ownership without the year-round costs of maintenance or the worries that go with it. The other nine owners enjoy the same benefits, and all repairs and maintenance are conducted in one 2 week period every year.
Each property is fully managed and includes:
Services and utilities
Fully furnished throughout (including all dining and kitchen equipment, bathroom toweling, hand towels and swim towels etc)
Cleaning and laundry
Gardening and estate management of olive groves and vineyards.
Local taxes and full property insurance.
Every aspect of the running and management of the properties is organised and managed for you.
The estate's management organise the occupation of the property to ensure each and every owner arrives to just relax during their stay. They also manage rentals on your behalf should you choose to offer any of your weeks for rental to paying guests. Best of all, you can personalize your property as much as you like. Prior to your arrival, the estate manager will remove your personal possessions (family pictures, artwork, ornaments, etc.) from their on-site storage and place them exactly where they were when you were last at the estate. On departure, they are removed and placed back into storage.
American clients will be familiar with the well-established and popular concept of collective ownership, found across US resorts and the Caribbean, but it is still a relatively novel approach in Europe. It is totally different to time-share, as your shared ownership of the property is freehold; an asset that can be re-sold or passed to a family member at a future date.
Enjoy a luxury life style by buying a share of the Collective Ownership at the Pinelli Estate - sold exclusively through Realpoint.
Advantages of Collective Ownership
There are numerous advantages to buying a Collective Ownership property at the Pinelli Estate,
and here are just a few:
Economic sense - affordable ownership of some of the best property in Italy, at a fraction of whole ownership cost.
Reduced running costs - pay only your share of the annual costs.
Peace of mind - the property will be operated by a management company.
Shares purchased are transferable and saleable.
You'll never tire of the views: the Mediterranean, olive groves, vineyards and the Cilento national park!
Personalisation - the feeling that you actually own the whole property when you stay, with your own personal effects on display.
You can enjoy complimentary use of a fully captained and crewed Rizzardi 50 Top Line motor yacht, licensed for up to 12 guests plus the crew.
Location - sea views, or the Cilento national park? You have both!
Your Own Collective Ownership Property
Due to high demand, our partners RealPoint Property search Italy to find the next Collective Ownership properties for you if the location of The Pinelli Estate is not for you.
We recognise that the property has to meet all the criteria that you expect from us for your ideal Italian home,
so it takes time to find that perfect property.
When a suitable property is found we carry out an in-depth due diligence exercise on the property before we go ahead and add it to the collective portfolio.
We want to keep you informed about these exciting new properties but of course, until we have completed our due diligence and secured the property they are not available for purchase.
In order to avoid any disappointment, we have provided you with a means to register your interest with us - so that you can make sure that when the property comes on the market as a Collective Ownership property then you will have first refusal.
It costs nothing to register your interest, so take a look at the properties and just let us know.