In the most recent newsletter from Grupo Real del Mar, they announced a new program they are setting up:
“Today we bring an excellent opportunity for you through our new co-property program, which is perfectly designed for you to have the possibility to acquire property in any of our developments without investing the total value of the estate. The key is to gather two or more people who seek the same benefit and take advantage of the opportunities we offer in our developments.”
In today’s market you have to be creative and think out of the box in order to make sales. And that’s what Grupo Real del Mar (developers of Real del Mar, Punta Esmeralda, La Joya and Alamar) are doing with this program. It has some merit. Similar in some respects to fractional ownership in that two, four or up to ten owners share the ownership of a property. With many owners not actually using their property 12 months of the year, this way they still get use, but their cost to get in and their maintenance fees are reduced. I wonder how they’ll have the actual ownership and title set up. I’ll try and get some more information on this and update this post.