For the past two years of sailing adventures in the BVI I have sailed by this development as we headed to Marina Cay for some painkillers and conch fritters, or to the anchorage right across the channel from Scrub Island.  We even took our dingy over to visit one day and wandered around the construction site.  The location is spectacular for many reasons;  A marina that has 55 deep-water slips, including five slips for yachts up to 150 feet, as well as provisioning supplies, diesel fuel, black water pump-out station, metered electricity, laundry facilities and more services;  The over-the-top spa and fitness center;  Caribbean sunsets – a must for me;  and…a few very private beaches.

Scrub Island Resort officially opened February 11^th,  with some GREAT rates between now and March 31^st – a $399 daily room rate.  This is about half of what it will be after the “soft” opening, so if you can make plans quickly you will be getting the deal of the year with these rates.  The rate also includes breakfast and nightly cocktail receptions.  The amenities and choices one has to discover the BVI are endless with Scrub Island Resort as your luxurious home base.  Here are a few to consider;

• Snorkeling and SCUBA diving adventures to destinations such as The Wreck Of The HMS Rhone,  Angel Fish Point on Norman Island, The Dogs, and many more.  And, a trip to The Baths on Virgin Gorda is a must for breathtaking snorkeling.
• How about marlin fishing to the BIG Drop with Scrub Island Marina as your shortest run to my favorite big game fishing spot.
• How about the shopping destinations in the BVI?  One of our top boutiques is a Peter Island Resort across the channel from Scrub Island.  The clothes are very high end with many of them now in my wife’s closet.  Another one would be at The Bitter End Resort on the island of Virgin Gorda.  It is worth an afternoon to just wander around.
• The Scrub Island Resort lagoon pool with the 15’ waterfall is where my wife would hang out most of the day.  It is another spot that will take your breath away from morning to sunset.  AND…they have a great pool bar and restaurant so you never have to leave your lounge chair.
• If you never leave Scrub Island the resort has created five different dining experiences to satisfy all of your gourmet desires – from candle light elegance to bare foot in the sand casual.
• For those who don’t want to fully disconnect from the world, the resort has wherever you are at the resort and all the beautifully appointed rooms have king-size beds, big plasma satellite TV, air-conditioning and non-stop views of the Caribbean.

For more information go to their website and check more of the details, or contact me TODAY.  I know you will be very excited about this brand new Caribbean experience awaiting your review.  Until next time…your Caribbean lifestyle detective remains on duty!

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.

This news should alert the discerning second and third home buyers that it is the time to BUY!  Prices for Caribbean fractionals have fallen  the past year so there is lots of room for the bargain hunters.  Analysts are even predicting that the fractional products in Paradise could be in for a long recovery.  Joseph Greff from J.P. Morgan Securities  recently said, “This business, at least for the next 10 years, is going to remain permanently shrunk.”  I personally don’t share this pessimism, but Mr. Greff may be looking at data from afar that I don’t have given that I am right in the middle of the action in the Caribbean markets.

One of the best fractional/residence club products that Marriott has produced in the Caribbean is at the Ritz Carlton in Red Hook, St. Thomas.  This was one of their first entries into the fractional product over ten years ago.  Because of the success in the U.S. Virgin Islands  it sparked similar developments around the world under the Ritz Carlton brand.  With this news Marriott is still continuing to manage properties built by other developers and will continue to license its brands to luxury developer.  Plus, the Marriott will complete its luxury-fractionals and residence projects that are currently under construction.

They are not permanently exiting fractional-ownership project development.  The Marriott has said it will start building new luxury fractional and residence projects when those specific markets recover from the world economic meltdown the past two years.  One of the issues that is still facing consumers is the ability to find mortgage money for these second home products.  Lenders have not had this type of credit available for over a year because of lowering risk in their lending portfolios anyway they can.

Surprisingly, Marriott has done better with time-shares the past two years with over half of their revenue the first half of 2009 coming from this product – $338 million!  With the Marriott writing off a $760 million non-cash charge against third-quarter profits it will almost cancel out any gains from the luxury fractional and residence products Europe, Asia and all of North America.  CLICK HERE   if you would like more information about the Caribbean Franctionals as a way for you to buy your slice of Paradise.  Until next time…your Caribbean lifestyle detective remains on duty.

Dominican Republic:  The DR is one of the most stable Caribbean countries including Latin America.  It continues to attract international businesses because of their business-friendly policies.  Coupled with the low cost of living, the real estate values in the DR are very competitive with other Caribbean countries.  At the moment, the DR is considered the golf capital of the Caribbean.  There are more world-class golf courses in the DR than any other place in the Caribbean.

Also, travel to the DR is very easy because of the amount of direct flights from the U.S., Europe and South America.  There are ten international airports in the country.  It is a three hour flight from New York City, less than two hours from Miami, and only 45 minutes from San Juan, Puerto Rico.  The luxury resorts and choices of real estate allows the DR to be the Caribbean’s most popular tourism destination.

Belize:  Belize is the only English speaking country in Central and South America.  It is the least populated country in Central America, and real estate opportunities are growing rapidly.  The tax and business structure of the Belize has been designed to conduct your personal and business affairs in a safe and tax-favorable environment.  It is an environmental paradise.  From the rainforest, the exotic wildlife and birds, and white coral sand beaches, and world class diving, has elevated to my top four countries to consider purchasing real estate.  Belize has the world’s second largest coral barrier reef – the top one is the Great Barrier Reef in Australia.  The SCUBA diving and snorkeling is world class.

U.S. Virgin Islands:  Visiting or living is this Territory of the U.S. is a dream come true for me.  The beauty is boundless amongst the three very diverse main islands; St. Thomas, St. John, St. Croix.  Each of the islands is unique even though they are just a few short miles apart.  St. Thomas is the most populated and the hub of commerce and tourism.  St. John is almost all a National Park.  St. Croix is the quieter of the islands, but just as beautiful.  The real estate opportunities range from $200,000 to millions.  Because the USVI is a Territory of the U.S. its government, tax structure, and all standards are the same as in U.S.  The mash potato white sand beaches, sailing, snorkeling, SCUBA diving, fine dining, and duty free world class shopping is what keeps the world coming back to this fabulous example of what the Caribbean has to offer.

Dominica:  This is the smallest of the Caribbean islands.  Dominica is one of the more rugged of the Caribbean islands,  and it’s beauty will take your breath away.  It sits midway in the chain of Caribbean islands, just a few miles from Martinique and Guadeloupe.  It is an example of Nature’s unspoiled beauty.  Two thirds of the island is covered by tropical forests which includes over 1,200 plant species.  It is covered with lakes, rivers, streams, and waterfalls.  English is the official language with a large portion of the population speaking Creole.  This island appeals to who are seeking a sense of adventure, or would like a very quiet time away from the speed of light many of us have normalized around.  I love this special slice of Paradise.

These are my Top Four picks for the 2009 Caribbean real estate markets.  I welcome comments about any of your favorite Caribbean islands.  Your Caribbean islands lifestyle detective remains on duty.  Until next time…fair winds!

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.

Villa Castellamonte is one of the DR’s top 5-star luxury villas.  The private villa has 15,000 square feet of living space, with eight bedrooms and ten full baths.  It has a complete staff as part of the package and is located on the North coast of the Dominican Republic at the Playa Grande – Cabrera area.  You may remember seeing this villa featured on MSNBC’s “On the Money”.  It was even named a “Top Ten Villa” in the Caribbean, and mentioned by Fodor as a must-stay if you are visiting the DR.

The Playa Grande – Cabrera area is about 70 miles east of Puerto Plata, and is now extremely popular for two reasons: 1) It’s gorgeous white powder-sand beach and the incredible Robert Trent Jones – designed 18 hole golf course.  Playa Grande Beach  was rated as “…one of the Top Ten most beautiful beaches in the world” by Condé Nast travel magazine. Along with the mash potato powder-like sand, the beach is lined with coconut palms and bordered by the rugged coral cliffs.  You know I love to surf  and this area of the DR is noted for it’s big waves.  As you have discovered from my past articles about the Dominican Republic, it is not just a place that makes world class cigars, it is a world class destination.

Villa Castellamonte is privately owned by Mr. Jason Matthews and he will keep a 20% ownership in it.  “For me, the rationale to fractionalize Villa Castellamonte made sense because although my ownership will be less, so too will be my expenses.  And, fractional ownership programs are found throughout the world, allowing investors to own and enjoy a property of a much higher value than they could typically afford individually,”  Financing any second or third home in the world is a real challenge today, given world economic climate.  So, Mr. Matthews has agreed to personally provide financing for qualified investors who would like to purchase a fractional ownership in his breathtaking villa.

If you would like more information about how to be one of the very special owners of Villa Castellamonte, contact me anytime and I will send you information.  Until next time…your Caribbean lifestyle detective remains on duty.

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.

Terra del Sol, Aurba:  This is one of the few completely planned communities in the Caribbean, with a Trent Jones champion golf course to go along with their beautiful homes, villas, condominiums, golf, spa & fitness, fine dining, and much more.

Botany Bay, St. Thomas:  Timbers Group is developing the ultra-luxury resort located on the western tip of St. Thomas.  It will be managed by the international hospitality management group – Jumeirah Group,  which is a member of Dubai Holding. This project has a variety of fractionals – from condos to very large townhomes.

Wyndam Grand Bay Waterford, Cayman Islands:  The Cayman Islands are about 180 miles northwest of Jamaica and is noted for its breathtaking diving and an off-shore banking center for much of the world.  This project is located at Crystal Harbor Safe Haven and has something for everyone.

Adventuras Club, Puerto Adventuras, Mayan Riviera:  Sometimes people forget that Mexico has a thriving Caribbean real estate center – from Cancun to Tulum.  The Mayan Riviera is exploding and the Adventuras Club is just about 25 miles south of Cancun.  I love this part of Mexico as one of my part time homes.

Casa de Campo – Los Altos, Dominican Republic:  This is THE spot in the DR for luxury real estate.  It is right next to Altos de Chavon, a gorgeous replica of a 16^th century Italian village, with shops, restaurants, and many cultural attractions.  Casa de Campo has already won the Travel & Leisure  Magazine’s #1 “Family Friendly Resort In The Caribbean”!  Besides the natural beauty of the island, is also the golfing capital of the Caribbean.

February Point Resort, Exuma, Bahamas:  With February Point’s oceanfront settings, the luxury amenities of the resort, the furnishings that come with the fractional ownership of the villas, and the tax advantages of The Bahamas, it is a very appealing option for those wanting to own a piece of Paradise.

These are seven of my suggestions for those wanting to check how to own a piece of the Caribbean at a fraction of the cost of buying a home.  Let me know what you discover from these suggestions.  Your Caribbean lifestyle detective  remains on duty!  Until next time…fair winds!

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.

Given that this was their first venture into the Residence Club market over ten years ago, it was time for the Ritz to refurbish their residences.  What they have created is over the top!  The new décor was designed to highlight the flair of the Caribbean while still keeping with The Ritz-Carlton tradition of pure elegance.  Each refurbished unit also includes artwork by the resort’s in-residence local artist, Lucinda O’Connell.

“We are very excited to unveil this makeover to our Members as they return to their residences over the course of this year,” said Ronald Parker, general manager of The Ritz-Carlton Club, St. Thomas.

The fractional owners at the St. Thomas Ritz-Carlton also enjoy their own personal concierge services, which assist them with their every need prior to and throughout their stay – even the stocking of their unit with groceries before they arrive, plus, they have the use of the 53-foot catamaran, Lady Lynsey, and a full-service spa, salon and fitness center.  The deeded fractional ownership allows Members and their guests to use a one-twelfth interest, for 21 days annually.  As I have mentioned many times, this is a destination I highly recommend for your  next visit to the Caribbean.  Just a side note, the bay in front of the Ritz is THE kite-boarding center of the Virgin Islands.  Until next time…fair winds!

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.

Many of you have probably vacationed in the Caymen Islands.  But for those of you who have never been to this Caribbean paradise, the Cayman Islands are located in the western Caribbean.  The Cayman Islands are approximately 180 miles northwest of Jamaica and are made up of Grand Cayman, Cayman Brac and Little Cayman. The overwhelming amount of fish life, coral reefs, water sports and shopping make Grand Cayman the perfect destination for the world travelers looking for non-stop luxury, relaxation and water adventures.

The Waterford  has choices for anyone’s needs, from luxurious villas, grand penthouses and an elegant “Great House.” It is located in Crystal Harbor Safe Haven, overlooking the magnificent North Sound and Sting Ray City.  Those that have been to the Cayman’s know that Sting Ray City is unforgettable. And, it is right next door to the North Sound Championship golf course for those who can’t stand to be without a day of golf. A side note is that my lowest golf score is at 114!!!  The resort includes 44 two-bedroom and three-bedroom oceanfront villas, and three luxury penthouses. If you are one of the Residence Club owners at the Waterford you will enjoy lodging throughout the year with at least six weeks of flexible usage, plus unlimited “space available” usage at no additional charge. And, the prices start at about $300,000 for membership to the Residence Club.  When you are at your villa you will be blown away as to what is included; access to a Land Rover, BMW, Mercedes or Audi; and access to a Boston Whaler with your own personal captain as you explore all there is connected to the Cayman Islands waters.

The Waterford just joined The Registry Collection program – a global Residence Club network with over 30,000 members and more than 160 luxury resort opportunities on five continents. These 160 properties participating in The Registry Collection are available for exchange to any of the Residence Club owners, fractional property owners, and fractional yacht owners. As the world’s largest luxury exchange program, The Registry Collection program provides members with access to some of the world’s finest vacation properties, as well as a personal concierge service that is available 24 hours a day at each of their properties.  Spread the word about this luxury resort opportunity to your clients who are looking for their first “second – home” location , or those who are accumulating additional properties around the world.  Contact me  for more information as to what is happening in the Grand Cayman, and any of the other islands in the Caribbean.  Your Caribbean lifestyle detective is always on duty.  Until next time…

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.

Fast forward to 2009.  The Mayan Riviera has exploded in value, population, and as a world class tourist destination.  This region has over a 100 miles of mash potato coral sand, palm trees, turquoise blue water, and the typical 85+ degree weather.  Plus, you have the cultural experience of Mayan culture and the amazing international treasures – the many Mayan ruins in this region with Tulum  right on the coast.

The three main regions of the Mayan Riviera as Cancun,  Playa del Carmen,  and Puerto Adventuras - which is right in the middle of the region.  The Aventuras Club is a new fractional interest condominium resort built within Puerto Aventuras.  The Private Residence Club offers three distinctly different locations with luxurious vacation home villas situated on the Marina, the Lagoon and the Beach.   The resort offers elegantly appointed one, two and three bedroom villas that are lavishly furnished, decorated and supplied with all you need. The beautiful resort community offers diving, snorkeling, deep sea fishing, biking, golf, swimming with the dolphins, shopping, fine dining and much more. 

And, it is a very short drive to my favorite street in the Mayan Riviera – La Quinta Avenida  or the famous 5th Avenue in Playa Del Carmen. This charming cobblestone pedestrian passage offer Mexican Art, crafts, jewelry, high end shops, designer boutiques, restaurants and night life and only a block from the beach that would remind you of the south of France. In fact, I generally find more Italian, French, German, and visitors from other countries than the locals in this region.  Playa del Carmen is the location of the ferry to the island of Cozumel.

The Adventuras Club has two and three bedroom condos starting at $105,000 to $128,500 for 1,500 square feet to 2,500 square feet at the Marina, Lagoon, or the Beach.  This allows you a 1/8 ownership of the condo and a minimum of six weeks a year at your Caribbean resort community.  I have enjoyed many of the restaurants and shopping in this region, so contact me  if you want more information about the opportunities awaiting you.  Until next time…your Caribbean real estate and lifestyle detective is on duty.

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.

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!