In recent years, an increasing number of Israelis have tried to rid themselves of time-share vacation units they had acquired for about $10,000, offering to sell them for a nominal fee or even to give them away due to high maintenance fees - starting at NIS 1,700 - which management companies charge.
A number of international time-share companies offer schemes in Israel under which a person buys the right to spend a fixed period each year - from three days to two months - at a specified vacation unit. The disadvantage of time-shares - apart from the maintenance fee - is that owners are entitled to use their unit only during the predetermined period.
In the mid-1990s, companies waged intensive marketing campaigns, complete with soirees in which prospective buyers were wined, dined, given gifts and shown promotional films, to convince them that a time-share is a good investment. Many Israelis were wooed by assurances that they could trade their time period for a different time or spend their vacation at an affiliated time-share facility elsewhere. However, in most instances that has not been the case.
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