With much focus on the timeshare market, fewer people are discussing another attractive vacation ownership option – fractional properties which are faring better than expected in the current economy.

Fractionals cater to a slightly different type of traveler than timeshares. While the latter are more similar to regular vacations, fractional property can be viewed as a kind of second home.

As with timeshares, however, the benefits of fractionals come with a smaller price tag than the traditional product, in this case a vacation home.

According to the vacation ownership commentator for Examiner.com, the emergence of the fractional market some 15 years ago was facilitated by the success of timesharing.

However, by offering fewer and larger units for longer periods of time – from four to 12 weeks per year – this option makes fractional owners more invested in the area they choose to own.

Examiner's Mark Silverman says fractionals are growing in popularity – their number has more than doubled to over 150 resorts in the last six years. He also points out they hold most of their value on the secondary market.

As the credit market tightened, fractional properties have seen a fallout. However, Silverman suggests, it is likely to be smaller than in the mainstream construction industry since many buyers tend to pay cash for their ownerships.