It seems sketchy as hell.
They sell an apartment, that apartment in resort. The price is about typical normal apartment.
They said that I own that apartment, and can visit the resort few days a year, enjoying staying at that apartment. Just book your day and they handled the rest. I still not fully wrapped my head about this concept yet, but why not stay there forever but “book” ?
My aunt said this seems good deal. But I feel something fishy.
Is it a good investment compared to normal apartment in residence building ?
Can someone tell me more details on this type of real estate?
You need to book it because you are not the only person who “owns” it. Many people do, and usually you can only book like 1-2 weeks a year or something.
Despite paying the full price of an apartment you’re only really buying 1/52 of an apartment
Plus they have you pay a bunch of maintenance fees which can be a few hundred to thousands a year.
But the price is about an apartment, but only a bit cheaper (1-2% cheaper). Why i only own only one or two week ?
Because that’s where they trick you. They sell you something as if it’s a good deal when really it’s not, and they make a ton of money by selling the same thing to 50 other people.