Owners Action - 1 million UK timeshare owners by 2014?

The boss of a leading European timeshare resales company has predicted a million timeshare owners in the UK by 2014.

A shortage of affordable second homes combined with tighter regulations on the sale of timeshare should produce the magic figure, according to Phil Watson, managing director of Worldwide Timeshare Hypermarket.

"Timeshare resales are witnessing a resugence in popularity with both the “staycation” enthusiasts and those seeking cost effective ways to holiday at home and abroad," he explained.

The increasing cost of UK coastal property is fuelling the biggest timeshare boom in 20 years, with families turning to overseas investments 'in their droves'.

"Detached houses with sea views in Cornwall and Devon regularly fetch up to £1.5 million, while those on Dorset’s ‘millionaire coast’ are the fourth most expensive in the world," said Watson.

Meanwhile the number of timeshare holidaying Britons has risen by 25 per cent in the last 12 months alone – the biggest annual increase since their heyday in the late 80s.

EU regulations designed to protect consumers are fast making modern timeshares a hassle-free holiday home option.

They allow normal people to sample the lifestyle of being a second home owner at a fraction of the price – typically between £4,000 and £10,000.

Watson added: "We have experienced a 25 per cent surge in interest in the last year, primarily from families looking for luxury accommodation with sea views but without the millions of pounds needed to obtain them in the UK."

According to recent figures, more than half-a-million Britons already own a timeshare, 48 per cent of whom are qualified professionals. The shortage of affordable second homes in the UK has increased that number by at least a quarter since August 2010, said Watson.

He added: "If the trend continues, more than one million Britons may have timeshare property by 2014."

source: www.rciventures.com