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.
When the economy took a dive in 2007/8, there was a noticeable decline in the fractional home market. The luxury of purchasing a share in a second home was a financial risk too great for many. Even when the housing market and other economic indicators started to improve again, the fractional market remained weak. However, that seems to be changing. Recent reports indicate a definite rebound in the market. We talked to management and owners at several high end private residence clubs to learn more about why sales are back up and why people are attracted to buying a share of a property.
For more than 85 years, Sea Island has provided travelers with a luxurious private sanctuary, combining breathtaking nature, outdoor activities, and the highest quality accommodations. The Cloister Ocean Residences, a private residence club on Sea Island, aims to offer the very best in personalized worry-free vacations.
The annual survey by Ragatz Associates of private residence clubs, destination clubs and fractional interests shows total sales of $516m in 2014, which is inline with the overall sales for 2013. The mix of sales within these groups has changed between the two years.
The annual survey from Ragatz Associates shows an increase of 4% in the total sales for various shared ownership properties in 2013.
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.
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.