Fractional ownership is the same as ownership of any other real estate, wherein you enjoy potential appreciation, depreciation, interest and expense deductions. At your discretion, you may sell your share of the property, gift it, or leave it to someone in a will, just like any real estate property.
In terms of your tax considerations, your accountant or tax advisor would be better suited to provide specific details and advise what your individual tax circumstances may offer. As tax benefits and deductions differ from country to country and change from time to time, the surest advice is to check with an expert prior to your purchase.
With rental potential, some villas may qualify for 1031 exchanges, and additional tax benefits, that your professional tax advisor will need to determine for you.