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.
