What is a timeshare?

After a long period of restrictions across the globe, the air is finally starting to clear and people are coming out to play — and to buy second homes. The Spanish real estate market for second properties has been picking up in recent years, and the fact that lifestyles are becoming more flexible and mobile means people are looking for ways to split their time between a primary residence and a destination home.

According to idealista, the leading online property site in Spain, sales of homes to non-resident foreigners in Spain grew by 51% in 2021, with 43,827 transactions closed, as reported by the Ministry of Transport.

There are different options available in the market for buying a second home in Spain that focus on flexibility and profitability. Timeshare is one of them and has been around for decades, but most people don't fully understand its pros and cons.

Keep reading to find out more about timeshares, as well as the new second home ownership models available today.

The most controversial aspect of timeshares is the type of contracts that buyers have signed in the past, which put them under an obligation to pay annual fees and other maintenance costs for up to 30 years or longer. They are also very hard to resell — selling one week a year at a holiday destination to another person in exchange for maintenance fees isn't exactly easy.

Another common criticism of this vacation home model is that there is little to no return on investment. Timeshares often become a financial burden with no real resale value.

In Spain, the Supreme Court passed a ruling in 2015 declaring that most timeshares in Europe had been illegally sold. Many timeshare holders were able to claim back their investment, and the bad reputation of the product was made official. Many timeshare companies went bankrupt.

VIVLA's fractional ownership offers a truly flexible alternative that is also profitable for buyers. Its main value comes from the fact that buyers purchase unique homes and villas in Spain's most beautiful locations, and they can own anywhere from ⅛ to ½ fraction of the home.

Each fraction gives owners 6 full weeks of use per year together with a full list of amenities. It's a more flexible way to own a second home while avoiding the burden of full ownership, since you split all related costs.

Homes come fully managed so owners can have the comfort of a hotel or resort, but the mindset of owning their own place and calling it home. We've also partnered with the best legal and real estate firms in Spain to provide ongoing support to our customers.

Contact VIVLA today and discover a new way to fully own a property in a more flexible way — paying only for the amount of home you need to use.