Interested in dipping your toe in The Caribbean at a Fraction of the price?
Fractional ownership is ideal for those who want to live the Caribbean lifestyle but are unable to commit the time each year to justify the investment in full ownership of one of our luxury properties. It provides all the privileges of ownership and membership whilst limiting your annual running costs to only the time owned. The Point community is projected to develop considerably over the coming years, while local government incentives and legislation mean Grenada has never been a more appealing investment opportunity.
Vacation homes are among the ultimate discretionary purchases – something most people want, but do not absolutely need. Vacation homes can be hard to justify because of the expenses of whole ownership and the burdens of property maintenance. In the ongoing effort to increase the attractiveness of vacation home ownership, vacation ownership concepts have, over the past 40 years, evolved into new structures seeking to improve on their predecessors. Fractions are simply one of the most recent developments. Accordingly, fractions are not a one-shot phenomenon but rather a stable outgrowth of ongoing experiences.
One consequence of the current economic climate is the pressure on prospective buyers to make an economically sound purchase in terms of price points and carrying costs. Given that most second homeowners don’t utilize their property more than three to four weeks a year, a fractional makes economic sense. Especially today, buyers ask “why pay 100% of the cost of purchasing and maintaining a vacation home used only a fraction of the year?”
The luxury fractional is more than the bricks and sticks of real estate. It is the feeling of belonging and offering a lifestyle. It is an experience-based product. Today’s educated consumer puts a premium on the “experience” – the items that may cost little but provide significant satisfaction. Moreover, properly trained management generate in Owner-Members the feeling of belonging in a privileged circle of members, not simply owning a piece of real estate.
At all times they will have the peace of mind of knowing that the resort and their property is being professionally managed by a reputable 5 star resort management company. This relieves them of the many stresses involved in managing a private property themselves from another part of the world.
Fractional ownership provides them with a title deed that reflects their financial interest in the resort. As well as being negotiable at a future date it can also be passed on to their children. In this way they will be ensuring a future filled with luxury lifestyle vacations for both themselves and their family.
When construction is completed for phase 1 (planned for 2017) the owner will be entitled to 5 weeks per year for personal use of the condo or villa and access to all the fine dining and recreational facilities of the resort.
The owner may also choose to not use some portion or all of their 5 week entitlement. If this is the case, the property can be rented and the owner will receive a share of this rental income. This can result in a significant return on investment.