Unrequited vacation of the property market

The purchase of a timeshare (taymshear) is currently on the market of exotic holiday properties in the country as well as supply and as demand. Evidenced Investor.bg online poll and survey companies in the segment.

On the question "Does the investment interest in real estate with a timeshare (timeshare) in our country?" The majority (73%) out of 1340 have voted in the poll answered "No".

The poll is pretty indicative of the current level of demand by Bulgarian consumers, currently has no great interest in the rest of the type taymshear, told Investor.bg Karavidov Aristide, Governor of Arica Taymshear Club, which operates in the segment. According to him, this may be due both to the economic crisis and the relatively poor knowledge of the product. To develop the market and increased demand, it is necessary to explain to users what is actually a taymshear and to establish the necessary legal basis to defend their interests, he said.

What is taymshear?
Taymshear types of contracts are in the field of tourism and hospitality, through which gives entitlement to a holiday home or hotel room for a certain period of time. The existence of such contractual relations requires the creation of legislation that regulates them. Since the contracts of the type taymshear are new to Bulgaria, they still are not governed by Bulgarian law. Thus the relationship between seller and buyer taymshear can be settled only in a contract between two parties. To ensure the interests of the parties shall take legislative measures in this direction, said Karavidov.

Late last year the European Parliament has adopted rules that aim to create greater certainty for buyers taymshear. According to the amendments consumer has the right to information and taymshear seller is obliged to issue informational materials which describe in detail the conditions in the proposed holiday complex. Should actual conditions do not meet the specified, the client has the right to claim.

The client is given and the law of reflection. Within two weeks after signing the contract the client can waive that during this period does not make payments under the contract. Regulated and how that may change the annual fee for maintenance of the property or the annual membership fee taymshear club.

Buyers admitted to be held mainly because of lack of knowledge. Board of Karavidov is before signing any contracts was to consult with a lawyer, and to personally ensure the quality of proposed conditions in a residential complex.

Despite the lack of interest among the larger group of consumers, however, over one fifth (21%) of participants in the survey of Investor.bg said they would invest in taymshear.

Opportunities for this in Bulgaria was rather limited.
Only a few companies are offering or taymshear taymshear-like products in Bulgaria, explained Karavidov. We can not be purchased taymshear in the region of Varna and Nessebar. Expected demand in the near future to increase significantly, especially in mountain and Black Sea resorts. Among the reasons shows that there are many unsold holiday properties in those areas in which they taymshear is possible to find the outlet.

With the popularization of the product is expected to increase interest not only from the Bulgarian clients but also by foreign tourists, such as German, which traditionally visit Bulgaria.

Despite the low share of taymshear Market of tourist products in Bulgaria, the potential for development is very high, says Karavidov. According to data from PricewaterhouseCoopers in 2007 taymshear sales in the United States amounted to 6,7 billion dollars. In Europe, the market amounted to around EUR 10 billion annually and employs 40 thousand people. The world today has more than 6.7 million owners of taymshear of which more than 1,5 million live in Europe, according to European Organization segment Resort Development Organisation.

Who buys taymshear?
Buyers of taymshear are mostly people who traditionally visit the same tourist destination. Have built a sense of second homes and are ready to ensure your vacation for years to come.

Another type of buyers are those who benefit from the current conjuncture situation. They buy taymshear at a time of weak demand and depressed prices of the tourist market, then sell it, profit is earned.

"I expect the supply of taymshear gradually be increased and this could lead to more investment in advertising and promotion of the product. Offering holidays taymshear type may be out of this crisis for the market of holiday properties in the country, predicted Karavidov.