FAIR SHARES IN POR­TU­GAL

The Daily Telegraph - Property - - Overseas -

“We are Mr and Mrs Av­er­age,” says Amanda Brown. “So if we can buy a place abroad us­ing frac­tional own­er­ship, any­one can do it.”

Amanda Brown and her part­ner, Dave Smith, who both work in telecom­mu­ni­ca­tions, re­cently bought a quar­ter share of an apart­ment on a new de­vel­op­ment near La­gos in Por­tu­gal.

“Be­cause we both work full­time, we can only take a max­i­mum of six weeks’ hol­i­day a year, ” says Amanda. “So it didn’t make sense pay­ing for some­thing for the whole year.”

They also found it very at­trac­tive that the com­pany they bought through took care of ev­ery­thing: “When we looked at buy­ing our own place out­right, we were put off by all the has­sle with Por­tugese bu­reau­cracy that we would have had to go through,” she says. But when they bought a frac­tional own­er­ship prop­erty, “ev­ery­thing was taken care of”.

In fact, the big­gest prob­lem they faced through­out the whole process was find­ing a UK bank to open a euro ac­count to trans­fer the funds for the pur­chase.

Now the proud own­ers of an apart­ment five min­utes’ walk from the sea, Amanda is al­ready check­ing out which other frac­tion­ally owned apart­ments she can swap, so they can go ski-ing.

As far as Amanda and her hus­band are con­cerned, frac­tional own­er­ship is great: “I don’t know why ev­ery­one doesn’t do it,” she says.

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