Dublin, Ireland (October 27, 2011) — ShareSpark.com has officially announced their new fractional ownership website that promotes sharing of assets rather than outright sale or purchase of an asset.
With the decline in the worldwide economy, a nearly new luxury motor boat can be found for sale on second hand markets for anything from €50k to €100k. However, this is still just outside the reach of the masses. This is where fractional ownership opens impressive new ownership opportunities – for literally everybody and anybody. Consider the same — nearly new — €50k boat above, but now consider buying a 20% share with some like-minded investment partners. €50k has just become €10k and the on-going annual maintenance bills have just reduced by a similar proportion.
ShareSpark.com believes that fractional ownership should be something that we consider in our everyday lives, as most assets purchased rarely get used 100% of the time, so why pay for 100%.
“People who have purchased items during the ‘boom’ times may struggle with repayments or upkeep as their income or spending power decreases,” explained Sharespark’s CTO and co-founder Paul Nolan. “With ShareSpark.com, people have a ‘one-stop-shop’ for finding both shared ownership bargains and finding investment partners with whom to share their existing assets.”
Consider someone who has made a significant investment in property, but now finds that that the increasing interest rates and lower spending powers the world over is creating a financial burden. Equally, consider someone who is looking to get onto the property ladder, but is either waiting for the ‘theoretical’ rock bottom or struggling to raise finance. In this case, the investor could sell 50% of their investment property to an investment partner. This would allow the investor to benefit in a number of ways:
– He will receive a cash injection from an investment partner corresponding to the agreed price for 50% of your property.
– On-going mortgage and maintenance payments will be shared 50/50.
– Above all, you have peace of mind that there are two investors going forward and the payment burden has reduced without the need to dispose of the property asset at the ‘bottom’ of the market.
ShareSpark.com is not just restricted to property investment. ShareSpark.com caters for literally everything and anything that you might reasonably want to share with an investment partner. Today, ShareSpark.com has listings for such wide and varied items as Private Jets, Boats, JetSki’s, Property, Games Consoles, Cars, Machinery and clothing. ShareSpark.com is a completely free resource and available to anyone, anywhere to either list an asset or make offers on an asset.
“We see a bright future for shared ownership,” said Nolan, “it’s an emerging segment of the market that can sometimes be difficult to explain, but when people ‘get it’ they can immediately see the possibilities. Not only that, but we also offer the ability for people to rent or swap their assets if they are not quite ready for the fractional ownership plunge.”