“But what is timeshare? It is free to use, exclusively and for a specific period each year, a tourist apartment equipped with adequate furniture for the purpose, according to the College Registrar Spain. Take the right to annex additional services such as cleaning the apartment, care and maintenance of the common elements of building or development which integrates the apartment. The “specified period” of each year is what the law calls “Time”, which will have a minimum of seven consecutive days and will be repeated annually. All shifts of the same building or development will have the same length and each buyer may acquire desired. The “time share” as holiday system had its origin in the French Alps in 1965, from holiday then the formula is implanted in the U.S., where it was called “Time-sharing.” In Spain, tourism companies dedicated to the promotion of timeshare right began to emerge in the early 90s.
In Europe, the residences are located primarily in Spain, specifically in the Canary Islands. Other destinations Popular highlights Portugal, Italy and southern France. There are 5500 such resorts and over 6.7 million timeshare owners worldwide, of which 1.45 million live in Europe. The annual turnover of more than 10,000 million dollars. In Spain there are, according ANETC-OTE, 327 complexes with 24,200 apartments. The average length of stay is 9.9 nights and average annual occupancy levels of 76%. More than 100,000 Spanish families are owners of timeshare in Spain, a total of 611,200 families. The price depends on factors such as location, building capacity, category, etc.