Private Residence Clubs and Luxury Fractional Property
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.
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.
The annual survey from Ragatz Associates shows a drop of 10% in the sales for various shared ownership properties in 2012.
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.
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.
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.
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.
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.
Under a new multi-year relationship,
Aspen, Colorado, known as a premier travel destination for the wealthy and the glamorous, is experiencing renewed interest in fractional ownership at private residence clubs. The popular mountain destination boasts year-round opportunities with a mix of cultural events, a cosmopolitan nightlife, verdant mountain scenery and, of course, ski resorts that attract world-class skiers. Even with all these vacation features, Aspen did not escape the real estate slump induced by the 2008 recession. But a turn-around appears to be in the works. Reports show residential sales are rebounding with fractional properties just beginning to show an uptick.
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