One of The Top 21 Fractional Real Estate Professionals

As the fractional ownership property market enters an exciting stage of its development, Fractional Life profiles 21 of the industry's big hitters and asks them how they think the fractional sector will fare in 2010.

Peter Kempf is one of the  most experienced individuals in the luxury international real estate market. Before founding PKI he served as vice president and Midwest regional director for Sotheby's International Real Estate, director of international real estate for Christie's Great Estates and CEO-Europe for DCP International.

Looking forward he says: “Overall, I am optimistic. Sales in Q3 and Q4 of 2009 improved for high-end projects and I think this will continue on a modest level through Q1 and Q2 of 2010. I think Q3 and Q4 will show even more improvement. Typical institutional lending for developers will continue to be non-existent causing further delay in the launch of new product. However, developers with access to private capital should consider beginning project planning now because by the time they have all their approvals the market will have returned. The demand will improve in Europe because as the concept becomes better known, the acceptance of it improves. Also, the economic collapse caused a change in the way people look at their resources and will now consider fractional, something they never would have done before the crash.”



Comments

[George Sell]

Another of the Fractional Life Top 21 is Byrne Murphy, one of the principal movers behind PKI client Palazzo Tornabuoni in Florence.