When the economic meltdown broke out, it was evident that a considerable number of owners tried to get out of their timeshares. But this year, the road to economic recovery is already visible and in Brazil, the number of property investors purchasing fractional and timeshare units has grown by a significant amount within the last 12 months.
According to Overseas Property Professional (OPP), sales of the fractional properties shot up by approximately 60% last year, with the increasing South American tourism trade cited as one reason for the rise. Meanwhile, the figures released by holiday exchange firm RCI come despite the company posting an overall sales loss of 12% during 2009.
As Mario Ocampo, public relations director for RCI Latin America, told OPP, the rise in interest in the region could be due to the recession in North America, as the markets had not been as negatively affected by the economic troubles. He explained that the involvement of European investors has also been very important in the Latin American market. Moreover, part of the Brazilian growth in particular is due to European investment.
On the other hand, numerous property portals have already predicted that the South American destination is set to be a top seller during 2010.
Since the late of 1997, sales have been threatened by the economic condition and the number of owners trying to get rid of their timeshares. But compared to the sales performance this year, the timeshare industry has a great improvement and as it has been revealed, investors buying timeshare units has grown significantly.