The fractional ownership trend is finally spreading onto the Cayman Islands!

When most of you think of the Caribbean you forget about the Cayman Islands, Jamaica, and the Turks & Caicos.  Also, many of you still think that the Bahamas and Bermuda are part of the Caribbean.  So, for those of you who have not yet experienced the outer islands of the Caribbean, here is some info to peak your interest.  The Cayman Islands consists of three small islands: Grand Cayman, Cayman Brac and Little Cayman. Cayman Brac can be reached through a weekly one-hour direct flight from Miami or through daily connecting flights from Grand Cayman. Residents enjoy freedom from taxation, a stable democratic government (British Territory), and the highest standard of living in the Caribbean.

Cayman Brac, the middle sized island, is about the same size as Manhattan (12 miles long, 2 miles wide) but the skyline that gives it its name is natural: a sheer rock bluff (”Brac” is Gaelic for bluff) that runs the center of the island and sets it apart from its two low-lying sister isles. The island is home to about 1,800 residents and has a number of caves dotting the island that are rumored to still hold hidden pirate treasure.

It is no secret that Cayman Brac has some of the world’s finest diving and its greatest attraction is its surrounding waters. Virtually every major dive magazine has ranked the island among the World’s Top Ten Destinations. That’s because just offshore you’ll find more than 100 species of coral, more than 500 kinds of fish and some of the most dramatic and unique geological formations on the planet. Cayman Brac offers some of the best diving in the Caribbean and most sites are just a few minutes boat ride from the resorts.

Crystal Azure Beach Resort is now offering fractional ownership at preconstruction prices. This is an opportunity to purchase an outright share of ownership in one of our luxury, beachfront villas supported by full service amenities and a comprehensive rental management program. This means you can use, rent, lend, trade, will or sell your fractional ownership as you see fit without restriction. The prices for a ¼ ownership start at $110,000US!  There are an additional $260 in monthly maintenance and management fees.

The Waterford Private Residence Club is another fractional ownership opportunity on Grand Cayman. It will be a five-star resort and spa. It will contain 50 two- and three-bedroom villas and four estate homes spread over 11 buildings and 10.5 lushly landscaped acres. As a fractional, buyers can purchase a 1/8 share which entitles them to six weeks of usage and additional time based on availability, at no additional cost. The prices for preconstruction start at $297,900US! The Waterford will be completed by May 2010.

All villas and homes will be delivered fully furnished and equipped with designer furniture and top quality appliances. When in residence, owners will have access to a Land Rover, BMW, Mercedes or Audi for their personal use. They’ll also be able to use a Boston Whaler boat, complete with captain. Owners at The Waterford will receive five-star quality care when visiting. From a 24-hour concierge to make golf and dinner reservations to pre-arrival grocery shopping service, every need will be attended to. With two pools, a community Great House with a cigar room, fine dining restaurant and bar, plus a full service spa and health club, it will be the choice of many discerning owners who can’t wait for the a home in Paradise.  I will keep you posted as to how the build out goes for both of these new fractional ownership opportunities that have now come to the Cayman Islands.  Until next time…