Transfer Smart News: Chinese Travellers Warned of Timeshare Frauds

Nowadays, timeshare scams did not only gain the attention of people from top vacationing countries like US and UK but also to the other parts of the world. In China, Beijing citizens looking to travel abroad during this holiday season are being warned by local government to be cautious of timeshare vacation offers. Although timeshares become unattractive due to scams and many owners try to get out of their timeshare contracts, there are still many potential consumers including the Chinese citizens who will be interested in this form of vacation package.

According to Liu Dazhong, head of the consumer rights protection department of the administration, consumers might be cheated by lucrative promotions like 'traveling around the world' or 'buying timeshare services as an investment.' He added that sometimes timeshare companies boast that consumers can purchase the rights to use a hotel resort for 20 years, but then disappear with the cash. Liu stressed out he wants to slow the growing number of consumers being cheated by scams with elderly people emerging as the largest target group.

As part of the administration's month-long campaign to warn consumers about timeshare scams that was launched last weekend, as many as 260 notice boards were set up in busy shopping malls like SOHO Shangdu and The Place.

The concept of timesharing was quickly adopted by developers worldwide. While many were lured into this form of vacationing, many owners are also having difficulties with their timeshares due to its number of disadvantages. As a result, these owners want to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart. Unlike the timeshare industry in countries like US which is now mature, the Chinese market continues to lack regulation and its consumers must be warned to fall trap into these frauds.