You know that I am a fan of fractional ownership as a way to own your piece of Paradise in the Caribbean.  The large majority of property purchased in the Caribbean is accomplished with fractional ownership.  Bargains abound from Aruba to the Dominican Republic in the world of fractional condos and villas.  For the past two years I have personally witnessed the newest Caribbean resort’s development and construction, and it is now having it’s coming out party this month – Scrub Island Resort, the first resort to open in the BVI in 15 years!  This tropical paradise is on 230 acres on an unspoiled paradise. Read the rest of this entry »

During our work the past years in serving Buyers interested in owning a Caribbean fractional  as their way of owning a piece of Paradise, Marriott International  has been a major player.  They recently announced that they are closing down their development of Caribbean fractionals and residence-club products.  Their decision to pull back from this very attractive real estate product is not a surprise.  All of Marriott International’s fractional, residence club and time-share business earned only $632 million in the first six months of 2009, compared to $863 million in the same period last year for the same division of the company.  

The other two major players in this division of worldwide real estate product, Wyndham Worldwide Corporation  and Starwood Hotes & Resorts Worldwide, are now being watched to see if they will scale back their Caribbean fractional projects because of falling sales and the loan products drying up for this type real estate.  ( You may recall from earlier articles that almost half of the fractionals purchased in the Caribbean were all-cash purchases.)  I do expect announcements soon from Wyndham and Starwood. Read the rest of this entry »

There are 25 Caribbean countries that Jim Walberg  follows relating to their real estate economic trends.  The trends he follows includes Caribbean fractionals, villas, townhomes and condos.  In spite of the current global economic crisis there are international real estate markets that are still thriving.  Remember, all real estate is local.  Four of the locations in the Caribbean that are thriving are the Dominican Republic,  Belize, U.S. Virgin Islands, and Dominica.  There is an amazing amount of cash that continues to sit on the sidelines waiting for smart values in the world of international real estate.  The Caribbean is one of those locations where the cash is being spent.  Read the rest of this entry »

Fractional ownership of property in the Caribbean is the most popular method of owning your piece of Paradise – from Aruba to the Mayan Riviera  in Mexico.  A new fractional opportunity in the Dominican Republic has just been announced.

One of the most beautiful and exclusive privately owned luxury villas in the Dominican Republic  is now offering the opportunity to purchase a 1/10^th share of Villa Castellamonte, which allows them five weeks of enjoyment in the DR.  You know I am a fan of fractional ownership.  It is a way for people to enjoy their slice of Paradise without having to fully own the property.  There are some “potholes” to avoid with developments that are promoting that they have fractional ownership opportunities, when, in fact, it is not true.  So, it is a “Buyer Beware” for people investigating a fractional ownership anywhere in the world. Read the rest of this entry »

One of the truths about real estate is that all real estate is local.  The world news continues to report each day the demise of real estate because of the world’s credit meltdown, however there are always real estate locations that are still thriving.  The Caribbean fractionals are one of those locations.

I am constantly looking for the best opportunities in the Caribbean for people to secure their slice of Paradise.  For the last several years the real estate product that has represented half or more of the sales has been fractionals.  If you recall, almost ten years ago the Ritz Carlton in Red Hook,  St. Thomas, was one of the first to test the market of fractional deeded ownership as a method to own real estate with several other partners.  It was a huge success.  Below are six more Caribbean islands to consider for your slice of Paradise by purchasing a fraction of the property instead of the owning it all yourself. Read the rest of this entry »

The St. Thomas Ritz-Carlton just completed the entire re-design of 81 of their 105 two and three bedroom two residences!

As you may recall, the Ritz at Red Hook, St. Thomas is one of my favorite elegant places to stay in the Virgin Islands.  This particular Ritz-Carlton was the beta test site for the Deeded Fractional Ownership  concept for the Marriott Corporation  over ten years ago.  The outstanding results created at this Ritz-Carlton with the sellout of their initial fractional ownership opportunities launched the development of deeded fractional ownership within the Ritz organization worldwide.  They have now expanded luxury villas at their Red Hook, St. Thomas location as part of their deeded fractional ownership product.  Their success with this concept has now swept over the entire Caribbean. Read the rest of this entry »

Another of Jim Walberg’s (YouTube)  picks for pure luxury in the Caribbean is the Cayman Islands and the Wyndham Grand Bay Waterford!  This Residence Club resort was just added to The Registry Collection!!!

There are a couple of other parts of the Caribbean that are missed with those who want a piece of Paradise.  One of those special places is the Cayman Islands.  The Wyndham Grand Bay Waterford  is one of my favorite luxurious choices that you can find in the Caribbean.  The Cayman Islands are not noted for the sailing experience that I love, however if you love mash potato coral sand beaches and breathtaking SCUBA diving these are the islands for you. Read the rest of this entry »

The Adventuras Club is a new luxury condominium resort built at the private seaside resort community of Puerto Adventuras in the Riviera Maya of Mexico!

Yes, the Caribbean real estate community includes the Riviera Maya  on the cost of Mexico from Cancun to Belize.  I first discovered this part of the Caribbean in 1995 and even had the opportunity to purchase an acre beach front lot with a new Spanish style home for $120,000.  There was no financing available at that time I didn’t have the cash.  I missed one of the best real estate opportunities in purchasing that Caribbean home. Read the rest of this entry »

People are still focused on purchasing a piece of Paradise, even though the world credit crisis continues.  Fractionals continue to be one of the most popular ways to enjoy the Caribbean experience!

The world’s credit crisis has yet to slow down the sales of Caribbean fractional resorts.  The reason is that most of them are purchased for cash without the need for a real estate loan.  And, the mix of Buyers are still mainly from the U.S. markets – Chicago to Boston, and New York to Florida.  The people purchasing fractionals are 80% from the U.S. and 15% from England and Europe.  The remaining numbers are from Canada and South America.

You will recall from a past article about the amazing condo franctional purchases at Los Altos  in the Dominican Republic.  This super luxury complex consisting of 2 and 3 bedroom Caribbean-style condominiums was completed less than a year ago, and it is selling like hot cakes!  It is located in the world-class Casa de Campo resort.  It is Casa de Campo’s only condo project.   Los Altos combines the romance of a tranquil Caribbean getaway with the ultimate in rustic luxury.  Los Altos looks over the internationally renowned Dye Fore golf course and is located adjacent to the inviting and exciting Altos de Chavon Village with its collection of shops, restaurants and cultural events.

The typical Caribbean fractional and/or luxury real estate club sell a 1/8th to 1/12th interest in the property.  The many benefits include the management company for rentals when you are not able to visit your Caribbean get-a-way, and the maintenance of the luxury resort.  At Los Altos a 2-bedroom, 2.5-bath luxury condo starts at US$175,000, fully furnished for a 1/8th share of the ownership.  That is approximately six weeks a year at your very own luxury resort on one of my favorite destinations, the Dominican Republic.  Let me know  if you want more information on the many Caribbean fractional ownership opportunities in Paradise.

So, why are the Canadians still focused on the Caribbean as their second homes?  It is so darn COLD there half of the year!

Eleven months ago it was the British Boomers  who were flocking to the Caribbean.  Who has taken over those purchases are the Canadians!   The Canadian market has been the largest increase in Caribbean real estate purchases this past year – both fractionals and full deeded  ownership.

The Canadian demand for second home is being fuelled by their Boomers’ desire to re-invent their retirement lifestyles – following the sun!  It is REALLY COLD from Edmonton to Nova Scotia half of the year!  With direct flights to the Caribbean from Toronto and Montreal the entire Caribbean is easily accessible – from Aruba to the Dominican Republic.  And, this year 42% of our Canadian Buyers have been paying ALL CASH for their real estate purchases!  Here are the results of the Harris/Decima  study following the Canadian trends.

14% of the Canadian population own recreational real estate asset.

57% of owners are sole recreational property owners.

43% of owners have invested in shared ownership assets – fractional ownership properties.

36% of those who are sole owners purchased their property prior to 1990.

43% of fractional and timeshare ownership investment with most acquisitions made since the year 2000.

59% increase in second home ownership among Canadians since 1990.

30% of the total population in the Harris/Decima Survey indicated they are interested in purchasing a recreational property asset.

71% are interested in acquiring sole ownership properties.

14% are interested in fractional ownership.

48% prefer to be very close to the beach.

46% want retail facilities nearby.

Contact me today  if you want to get in on what the Canadians are discovering in the Caribbean for their second homes.  The Caribbean continues to be the real estate HOT SPOT in the Western Hemisphere.  Until next time…go Maple Leaf’s!