The timeshare concept was initially developed during the
mid 1960’s in Europe mainly in England and spread to the first developments
being introduced in the United States in 1974. The concept of splitting a
resort into 50 owners per unit (two weeks for maintenance per annum) spread to
South Africa when the concept was “sold” by Brian Stocks to the Southern Sun
group who introduced the first timeshare product being the Umhlanga Sands
in 1982.
The Umhlanga Sands comprised 237 partially self contained
units which went on the market for less thanR2500 out of season for a four
sleeper unit up to R25000 for a six sleeper unit in the main in season weeks at
the end of each December. The success of this first venture resulted in
additional units being launched on a yearly basis by the Southern Sun group for
example in 1983 the Beacon Island Plettenburg Bay, 1984 Cabana Beach Umhlanga
1985 Sabi, 1986 Pine Lake etc. From those early days numerous other parties
have developed projects in South Africa to the point where fixed timeshare
resorts now number in excess of 150. Worldwide over 5000 resorts have been
developed with an inter woven network available through the exchange organizations
RCI (Resort Condominiums International) and Interval International/Sunswop
which allow owners to inter change between their own resort both nationally and
internationally.
The question is often posed as to whether timeshare
holidays offer good value for money or not? Whether one owns in high season or
low season periods, it can categorically be stated that ownership affords good
value and an excellent return on ones investment. Whilst the main criticism of
timeshare today is the rising cost of levies, this must be related directly to
the rising cost of hotel accommodation.
Whereas a levy thirty years ago in an out of season
period for the week may have only been R270 and the cost of a hotel unit for a
week for four persons was R2500. This in todays terms would be approximately
R4000 for the levy with normal hotel accommodation in the same resort being
approximately R12600. A further question often asked is, is timesharing a good
investment? Whereas in out of season periods, ones capital growth is often
almost negligible investment should be looked upon on the savings realized
between the annual levy and the cost of standard hotel accommodation per annum.
The situation however is somewhat different with regard to high season weeks
where growth has been in some instances phenorminal with increases from
original purchase of R25000 for a four sleeper unit now reaching the level of
R140000 thirty years later. One should also of course bear in mind the savings realized
during the interim period of use.
Should you be considering purchasing a timeshare unit and
need advise on what to buy and where to buy, contact Quantum Sun where we will
happily assist in any purchase you may be considering. May we suggest you
contact us on our e-mail or telephone where we will be happy to discuss your
future timeshare purchase. Also why not pass this information onto friends and
acquaintances.