Tuesday, October 21, 2014
   
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Private Residence Club View

Owners of luxury fractional property buy a share of a single residence, that provides them with a couple of weeks to thirteen weeks of usage a year. The ownership period varies by development and can be expressed as a fraction (eg 1/10, 1/8, or ¼) or as a number of weeks (eg 5, 6 or 12 weeks).

Private Residence Clubs are the upper tier of the luxury fractional market, providing all the services of a five star hotel together with the ownership.

There are hundreds of fractional and Private Residence Club developments located in city, beach, mountain and resort destinations. Use our home directory to search through these locations.

They are sometimes compared to timeshares, although there are several key differences. For instance luxury fractionals are in better locations, are more luxurious and typically larger, providing 2, 3 or 4+ bedrooms.

This article covers the reasons people buy fractionals and PRCs, and if you're looking to buy read the list of questions to ask before buying your fractional. For easy reference there is a glossary of terms.

The latest news and research on luxury fractionals and Private Residence Clubs is available below.


North American Shared Property Shows Small Increase in 2013

The annual survey from Ragatz Associates shows an increase of 4% in the total sales for various shared ownership properties in 2013.

Read more: North American Shared Property Shows Small Increase in 2013

Timbers Resorts Adds Former Ritz-Carlton Club Bachelor Gulch to Its Portfolio

Colorado-based Timbers Resorts, a successful independent developer and operator of private boutique resorts and residence clubs, has just announced the addition of the former Ritz-Carlton Club - Bachelor Gulch to their portfolio. This property will be the thirteenth property managed by Timbers Resorts.

Read more: Timbers Resorts Adds Former Ritz-Carlton Club Bachelor Gulch to Its Portfolio

New Residence Club Fairmont Heritage Place, Mayakoba to Open in 2014

The Riviera Maya is known as a fascinating destination for modern luxury combined with spectacular natural beauty and ancient history. It is here that you'll find the new residence club, Fairmont Heritage Place, Mayakoba under construction and expected to open in June of 2014.

Read more: New Residence Club Fairmont Heritage Place, Mayakoba to Open in 2014

North American Shared Property Decreases in 2012

The annual survey from Ragatz Associates shows a drop of 10% in the sales for various shared ownership properties in 2012.

Read more: North American Shared Property Decreases in 2012

The Queen Anne Mansion Combines Historic Preservation and Fractional Ownership

The Queen Anne Mansion is a museum-like model of 19th-century opulence located in Eureka Springs, Arkansas. Owners Lata and Steve Lovell have just spent several years meticulously restoring this historic 12,000 square-foot mansion. With a view to preserving it for the next 100 years and beyond, they have formed the Queen Anne Mansion Preservation Trust, as a private residence club.

Read more: The Queen Anne Mansion Combines Historic Preservation and Fractional Ownership

Residences at the Sebastian in Vail

Vail is known internationally known for its superior skiing, brilliant blue skies and an abundance of breathtaking scenery. This private residence club and hotel allows owners to be in the heart of it all while enjoying the ultimate in luxury.

Read more: Residences at the Sebastian in Vail

The Dancing Bear Residence Club in Aspen, Colorado

Aspen is known worldwide as the Rocky Mountain playground for the rich and famous - it is sophisticated, artistic, and athletic - and it’s here that you’ll find Dancing Bear Aspen a new and luxurious private residence club.

Read more: The Dancing Bear Residence Club in Aspen, Colorado

Vacation Home Sales Rise in 2011

The National Association of Realtors (NAR) just reported that sales of vacation homes in the US rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. This is certainly an encouraging sign after falls in prior years and reinforces the trend seen in fractionals, where overall 2011 sales were up 4%.

Read more: Vacation Home Sales Rise in 2011

Fractional and Shared Property Increases in 2011

The annual North America survey by Ragatz Associates showed a slight increase of 4% across all shared property types, including fractionals, private residence clubs and destination clubs.

Read more: Fractional and Shared Property Increases in 2011

Four Seasons Starts New Residence Club at Walt Disney World

Four Seasons has recently announced that it will be opening a new resort community at Disney World. Planned to open in 2014, the Four Seasons Resort Orlando at Walt Disney will include a 444-room hotel, 40 residence club units and up to 90 private residences. The new development will be an enclave within the existing Golden Oak residential community which was created and master-planned by Disney.

Read more: Four Seasons Starts New Residence Club at Walt Disney World

The Best Ski Resorts for Shared Luxury Property

While it's no secret that North America boasts many incredible skiing destinations, choosing the location that packs both great snow and slopes with great service, good food and other desirable features can be overwhelming. Thankfully, the readers of SKI magazine have taken much of the guesswork out of the equation, and with many of these resorts opening this week, now is the time to look at places to stay.

Read more: The Best Ski Resorts for Shared Luxury Property

Private Residence Clubs Lower Prices

Many second home markets have seen price drops of 20-40% over the last few years. Private residence clubs and luxury fractionals in these markets have reflected these overall real estate trends. In some cases the prices are down by over a hundred thousand dollars. Here are some examples in some sought after locations.

Read more: Private Residence Clubs Lower Prices

A Review of Shared Ownership Around Deer Valley, UT

Owning your own ski home may mean you spend more time worrying about burst pipes and roof replacements, than the time you spend enjoying the slopes. That's where shared ownership comes in. It removes the worries and hassles of ownership, while giving you a place to call home. Deer Valley offers several high end fractional options.

Read more: A Review of Shared Ownership Around Deer Valley, UT

Fractional Ownership Choices in Los Cabos, Mexico

Located in the southern tip of the Baja California peninsula, Cabo San Lucas is one of several small towns towns known collectively as "Los Cabos" ("The Capes"). And with average temperatures that seldom go below the mid-fifties and highs that seldom reach above the mid-nineties, this mild climate combined with access to both beaches and deserts makes "Cabo" one of the more popular resort communities in the world.

Read more: Fractional Ownership Choices in Los Cabos, Mexico

Calistoga Ranch Living: Owning the Napa Valley Dream

Have you ever envisioned owning your very own luxury lodge nestled in the heart of Napa Valley wine country? What if it included access to an indulgent spa, gourmet restaurant and five-star hospitality services? Now fantasize sipping a fine vintage from your own private wine collection stored in an on-site wine cave?

Read more: Calistoga Ranch Living: Owning the Napa Valley Dream

Own a Luxury Apartment at 47 Park Street in London

London's 47 Park Street Grand Residences by Marriott in the Mayfair district provides members with all the amenities of a five-star hotel as well as all the comforts of a luxuriously appointed home. Part of the Grand Residences by Marriott program, this firm offers fractional ownership shares of prime real estate in the heart of one of the world's premier cities.

Read more: Own a Luxury Apartment at 47 Park Street in London

Fairmont Heritage Place Adds Residence Club in Santa Fe, New Mexico

The Residence Club at El Corazon de Santa Fe, Santa Fe's only downtown fractional ownership property, is to be managed by Fairmont Heritage Place, an exclusive private residence club offering from global luxury hotel brand Fairmont Hotels & Resorts.

Read more: Fairmont Heritage Place Adds Residence Club in Santa Fe, New Mexico

A Better Place to Spend Your Winter – The Hyatt Residence Club at Siesta Key

Even the most avid winter sportsman knows that, at least sometimes, it's better to spend part of the winter somewhere the snow never flies. Of course, northern residents who don't enjoy any part of the season after November, the “snowbirds,” flock somewhere more temperate as often as they can.

Read more: A Better Place to Spend Your Winter – The Hyatt Residence Club at Siesta Key

The Best Places for Shared Second Homes

Just in time for the Spring real estate season, a recent article in Barron's highlighted the best places to purchase second homes in the United States. Barron's rates these locations based on beauty, comfort, convenience, a range of lifestyles and, above all else value now that the worst of the financial crisis is over.

Read more: The Best Places for Shared Second Homes

New Private Residence Club in Costa Rica

In Costa Rica, one of the premier tropical destinations of the world, there's a new place to own a vacation home, The Palms at Playa Flamingo.

Read more: New Private Residence Club in Costa Rica

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