A Fiji resort is the first in the country to offer freehold or fee simple fractional ownership” of its multi-million dollar villas, the on-line news service Fiji Live reports.
The six-month-old Taunovo Bay Resort & Spa Fiji is launching the “timeshare” concept in the country. Timeshare or fractional ownership is popular in the U.S., and has become a maintstay of the tourism industry in parts of Hawaii.
Investors will be offered a one-tenth freehold ownership of a Taunovo Bay villa, which is valued at NZ$340,000. The investment includes the land.
See Fiji fractional news item for more details.
Neil
