Recognised as a well-established and highly successful golf and beach resort, San Lameer on the KwaZulu-Natal south coast has proven to be one of South Africa's most popular destinations for fractional ownership, says Werner Geyser, sales consultant for Pam Golding Fractional Ownership. San Lameer is minutes from the popular resort town of Margate, 20 minutes from the Wild Coast Casino and a scenic 75 minute drive from Durban.
"This is not surprising given the sound return on investment enjoyed by fractional owners at San Lameer. Furnished to high standards and each including a golf cart, our two bedroom and three bedroom units have enjoyed excellent occupancy rates of 73 and 65 percent respectively during the year to date (2008), both of which include usage by owners as well as rentals via the rental pool," he says.
"In terms of two bedroom units, owners used 60 percent ie 17 days of their allocated four weeks (ie 28 days) with the remaining 40 percent placed in the rental pool - of which 33 percent of the bed nights were rented out at an average of R1600 per night providing an income return of R6000.
Taking into account an owner's usage of 17 days at this same rate, this translates into a usage value of R27 200. In other words you have foregone the income by making use of the villa yourself, however you would have paid a similar rate to have enjoyed the same amount of holiday time in a similar holiday destination. As a result your return on a two bedroom share (fraction) at a cost of R260 000, the usage plus rental represents 13 percent.
Similarly, regarding the three bedroom units, owners used 50 percent ie 14 days of their allotted weeks with the remaining 50 percent placed in the rental pool - with 28 percent of the bed nights rented out at an average of R2200 per night. With 14 days' usage affording a usage value of R30 800 and the rental income representing R8800, the return on a three bedroom share of R299 000 represents 13.2 percent.
Geyser says over and above this, over the past three years an average escalation of 15 percent in the price of the shares at San Lameer has been achieved, further enhancing the value of this fractional product. As a result, not only is the purchaser minimising his/her holiday expenditure, the leisure asset is also appreciating as the share is underpinned with real property value. Fractional ownership also provides access to what may otherwise be hardly affordable, luxury destinations, whether these be golf, seaside, game farms or an international destination.
With breathtaking scenery, tranquility and seclusion, San Lameer is a conservation haven with 195 different bird species, abundant wildlife and indigenous fauna and flora, a championship golf course. Currently Pam Golding Fractional Ownership are marketing fractional shares in a luxurious two bedroom, two bathroom villa with a spacious, open-plan design flowing to outdoor areas, covered terraces and including a surround-sound entertainment system, flat screen television, air conditioning and a two-seater golf cart.
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