How to Purchase a Luxury Holiday Home for a Fraction of the Cost.
How to Purchase a Luxury Holiday Home for a Fraction of the Cost.
Learn about fractional ownership and how it can make your dream a reality.
Based in Le Marche, Italy, Appassionata is one of Europe’s leading fractional ownership companies.
During the last 14 years, we have developed 6 magnificent properties and have worked with over 60 owners, giving between 10 and 12 individuals the opportunity to collectively and securely own their own slice of Italian heaven.
Appassionata’s Chairman, Michael Hobbs, provides insight into how fractional ownership works and how it can benefit those who want a luxury holiday home, without all of the hassle.
IS FRACTIONAL OWNERSHIP RIGHT FOR ME?
On average, a holiday homeowner only uses their property for approximately 40 nights. However, they still have to pay for the entire year.
Fractional ownership was developed to create a more secure and reliable solution for those wanting to share ownership of a high-value item, such as properties, aeroplanes or boats, with ownership usually being shared between 4 to 12 owners.
In summary, fractional ownership allows you to arrive at your home, ready to start your holiday without any chores or anxiety. You own a share of this property in perpetuity, with the right to sell at any time: One of the biggest differences to timeshare.
IS THE PURCHASE PROCESS SIMPLE?
With us, buying a fractional ownership home in Italy is simple and straightforward.
The property is already registered in the Italian land registry and you have deeded ownership of the property. You buy a share in the UK company that owns the property (Appassionata) via a simple transaction with no additional purchase costs and a straightforward legal contract.
IS THE PROPERTY READY TO MOVE INTO?
All the houses are beautifully restored and ready for occupation.
All structural work and renovations have been completed and furnished to the highest of standards by our very own interior designer, Dawn Cavanagh-Hobbs, creating a beautifully balanced blend of functionality and style.
HOW MANY WEEKS OF RESIDENCY EACH YEAR?
You have between 4 and 5 weeks of annual residency, depending on the property. To book your dates, we use a residency calendar that is easy to operate and provides flexibility for all.
The weeks are reserved each year to ensure each owner always receives weeks in both the peak and off-peak seasons. Weeks can be exchanged with co-owners, used by friends and family or rented to a third party.
Owners who desire more residency weeks each year can buy more than one share, not always in the same property.
WHAT ARE THE RUNNING COSTS FOR THE PROPERTY?
To ensure the properties are efficiently maintained, an annual service charge is payable by each owner. This charge is calculated on the total running costs of the property and is equally divided between the 10 or 12 owners.
This is one of the great benefits of fractional ownership and substantially reduces the costs you have for running the property.
WHY DOES FRACTIONAL OWNERSHIP MAKE SENSE?
While it is extremely tempting to want to purchase a property outright in Italy, one has to ask: “how much am I really going to use this house?”
There are restrictions on non-Europeans visiting Italy each year, for example, many people coming from the UK, USA or any other 3rd nation state may only be able to spend a few months in Italy each year. Fractional ownership offers a solution to that problem.
GET IN TOUCH
Our latest property, Palazzo Scarsini, offers over 435 m²/4,700 ft² of luxurious living and is just a short drive from the coast and mountains.
This stunning Le Marche home has four large bedroom suites, all with en-suite bathrooms, spacious open-plan living spaces, a formal salon, and an incredible south-facing terrace.
A spa, gym and small wine cellar have been created under 15th-century vaults, providing an amazing space to relax and enjoy the tranquillity of this remarkable home.
ONLY €190,000* euros for a 1/12th share - 60% already sold - as of February 2023.
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