Albufeira, Portugal (June 29, 2012) — Pine Cliffs Resort in the Algarve launched the innovative Pine Cliffs Premier Club in May. This shared ownership concept is located in a unique prime seafront destination on the clifftops overlooking one of the longest beaches on The Algarve’s coastline and offers homebuyers part of one of Europe’s finest five-star resorts at a fraction of the price.
By acquiring a fractional ownership in a Premier Club property owners receive a 1/13th share (providing 4 weeks usage per year) in a specific fractional property, the title of which is held in a trust company, controlled and regulated by First National Trustee Company (FNTC).
At the end of the ownership period of 26 years, the property is sold and each owner receives their proportional share of the net proceeds of the sale. Preserving its value, the titled 1/13th interest can also be willed, placed in trust or owned by a separate legal entity, such as a corporation.
The prices of a 13th share start from €135,000 (£108,000) in a two bedroom town house and €189,500 (£150,000) in a three bedroom townhouse, which provides four weeks usage per year.
Wholly owned properties are also available on the resort ranging from €745,000 (£610,000) for a two bedroom apartment up to €4.5m (£3.6 m) for a four bedroom luxury independent villa.
Rental rates for a non-owner for a week in one of the Premier Club properties could typically cost as much as €7,000 (£5,700) for a two bedroom property and €8,750 Euros (£7,100) for a three bedroom property.
Starwood Hotels & Resorts manages the resort’s facilities through the Luxury Collection Brand which means Premier Club owners have access to the resort’s impressive array of facilities as well as hassle-free ownership in the capable hands of United Investments Portugal which is a member of IFA Hotels & Resorts.
The Pine Cliffs Premier Club are elegantly designed and consist of two and three bedroom townhouses located in secluded settings, in a choice of traditional Moorish or contemporary architecture.
Pine Cliffs Resort is also affiliated with The Registry Collection which opens up a whole world of luxury leisure travel opportunities, with owners able to choose from an extraordinary portfolio of superb holiday accommodation dotted around the globe.
SOURCE: Pine Cliffs Resort