Propertygenie.co.za to offer fractional ownership listings

Propertygenie.co.za to offer fractional ownership listings

Propertygenie.co.za has entered into a partnership with fractionalownership.co.za to provide access to the latest fractional ownership listings which will be available from the 12 December, 2008.

While it is well established overseas, fractional ownership is a relatively new concept in South Africa. Unlike timeshare, where users buy only the right to utilize a property, fractional ownership allows buyers to purchase an equity share in the property.

"We are continuously looking for ways in which to grow the propertygenie.co.za website and the partnership with fractionalownership.co.za has provided a valuable enhancement to all our web users", says Managing Executive of propertygenie.co.za, Johan Strydom.

Fractional ownership has become a very popular low cost investment vehicle for people looking to secure a holiday home, without significant capital outlay, and at the same time paying only for their usage of the property. It also potentially allows individuals to invest in a range of holiday properties for the price a single property would have cost them.

The Fractional Network will initially feature 40 fractional ownership properties and more will be added in the coming months.

The content will be powered by fractionalownership.co.za. who are experts in the business and have offered fractional ownership options since 2005.

Dirk Wilson, co-founder of fractionalownership.co.za, says; "We are obviously very pleased to have propertygenie.co.za as a partner as we able to expose a wide range of internet users to fractional ownership listings."

Through various other key propertygenie.co.za partnerships, The Fractional Ownership network will also be available on Realestateweb.co.za, ooba.co.za, SundayTimesProperty.co.za and iafrica.com.

Propertygenie.co.za recently partnered with The Sunday Times and The Times website to provide property listings content for TheTimes.co.za.

Hello ooba news

ooba (formerly MortgageSA) welcomed the 0.5% interest rate cut announced yesterday by the South African Reserve Bank which will save South African home owners an estimated R259m in home loan repayments each month, but says more cuts are needed.

According to a new poll by South Africa's leading property listings website, nearly a third of home hunters decide that a property is right for them before they even enter the house - and a kitchen is overwhelmingly the most important room when it comes to the buying decision.

Propertygenie.co.za has entered into a partnership with fractionalownership.co.za to provide access to the latest fractional ownership listings which will be available from the 12 December, 2008.

South Africans spent over R10 billion during the festive season last year. This year ooba suggests carefully planning your holiday season spending to avoid a financial hangover in January 2009. "Festive season debt can take months to pay off in the new year," says Jenny Rushin, Provincial Sales Manager for ooba (formerly MortgageSA).

Weak economic conditions, higher interest rates and the global credit crisis have forced banks to be far more picky about who they will lend money and less generous with their lending rates. But Mary Jane Lefevre, Regional Sales Manager of ooba, said that before you apply for a home loan, there are steps you can take to improve your credit status and encourage lenders to look more favourably on your application.