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Kreta Eiendom has experienced an increasing interest in shared ownership of houses in Crete. We are proud to present Fractional Ownership in Karoti Residence and Plakoti Village developments.
THE BENEFITS OF OWNING A SHARE OF A HOUSE ARE OBVIOUS:
- The entry ticket is far more reasonable than buying the house alone.
- Running expenses are shared between several parties.
THE CONCEPT IS AS FOLLOWS:
- Each house is divided into 1/4 shares, where one can purchase one or several shares.
- 1 share gives the exclusive right of use for 6 weeks during the period from May 1st to November 1st, and then another 6 weeks in the period from November 1st to May 1st.
- The periods of use vary in time each year so that over a period of 4 years the exclusive use has covered all the 52 weeks of the year.
- The owners may switch periods of use amongst themselves.
- The owners may freely sublet their exclusive period (there is a great demand for rentals).
- The owners may at any time sell their share to any buyer at their request.
- The house is fully furnished. This means that the house is delivered including all kitchen appliances and other white goods, furniture, TV-multimedia, Interenet (if available) and all basic equipment needed in a home.
- All running expenses are included in the monthly service fee. This includes gardening in private gardens, joint development expenses, insurance of house and furnishings, major cleaning at the end of each period, payment-service and accounting, filing tax returns for the Greek authorities, Internet-usage (if any) and necessary maintenance.
- Usage of water and electricity will be charged to each of the owners.
KLICK ON THE LINKS TO READ ABOUT:
FRACTIONAL OWNERSHIP IN KAROTI RESIDENCE
FRACTIONAL OWNERSHIP IN PLAKOTI VILLAGE
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