Whole ownership “will become a luxury” in the overseas property market according to the Association of International Property Professionals’ chief executive Mark Sharp.
Speaking at a seminar on the future of the overseas property sector, Professor Sharp said: “The market hasn’t recovered. We need to examine where the future of this industry actually lies, and I think whole ownership will become luxury and fractional will become the norm.”
Rob Whitton, chief executive of Freedom Bay, added that the current low-ebb of the market could provide ample opportunity.
“Markets go in cycles. It will always happen and we are still in the ‘fear’ period,” he said.