Cruise Talk: buying an apartment on the world

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Topic: buying an apartment on the world

gaz hants
First Class Passenger
Member # 5749

posted 11-11-2006 04:39 PM

as i was dreaming about winning the euro millions lottery i thought i would see how much it cost to join the world of residensea.

one of the cheapest 'studios' would be usd 825,000 plus annual fees of usd 72,000

so if i bought for one year and sold for what i paid for it, the cost of a round the world cruise would be usd 72,000 for 2

the questions are these:
is it reasonable to assume prices of suites stay constant?
are there any more fees on top of those mentioned or are they per person?

Posts: 273 | From: hythe southampton uk | Registered: Jun 2005 | IP: Logged

Magic Pipe
First Class Passenger
Member # 6994

posted 11-11-2006 04:53 PM

I don't think you actually buy a condo on these ships, I think that they are long term leases. With that being the case, one would think that the value would decline over time, unless there was a very strong demand.

Posts: 213 | From: NYC | Registered: Jul 2006 | IP: Logged

Cunard Fan
First Class Passenger
Member # 7530

posted 11-11-2006 08:24 PM

I heard that it just a long term lease. I think its a fifty year lease.

Posts: 2327 | From: Pasadena just north of Queen Mary | Registered: Sep 2006 | IP: Logged

eroller
First Class Passenger
Member # 1649

posted 11-11-2006 08:29 PM

No need to settle for the WORLD. New on the horizon is Residential Cruise Line and the MAGELLAN.
www.residentialcruiseline.com

Also are the Four Seasons Ocean residences.
www.oceanresidences.com

Both have elaborate websites and beautiful ship designs (especially MAGELLAN) but if they actually get built is anyones guess.

Ernie

Posts: 7046 | From: Miami, Florida USA | Registered: Oct 2000 | IP: Logged

PamM
First Class Passenger
Member # 2127

posted 11-12-2006 04:19 AM

Interesting idea gaz hants.. but you can do a WC with P&O for 2 for $72,000 which would also include all your meals etc & housekeeping [is that included on The World?].

Also you would need to complete the purchase for the exact time you wanted to board, and find a purchaser to take it off you on the day of departure. Imagine the hassle with solicitors, their fees and all the rest of it. Then there is the loss of interest on your outlay of $825,000. Some return would be nice, but with the reduction in the length of lease, not likely [will she really last 50 years?].

Pam

Posts: 12176 | From: Cambridge, UK | Registered: Jun 2001 | IP: Logged

feargus
First Class Passenger
Member # 3982

posted 11-12-2006 04:21 AM

I will have to check with my wife but i'm pretty sure the world is sold out. It took some time to get them all sold so I wonder if the other ones will ever be built, i can't see it unless there is a dramatic upturn in demand or they come up with a much better business model. I like the idea it and if i had lots and lots of money i would probably go for it.
i did spend a total of about 2 months on the world traveling with my wife on the world a couple of years ago (she used to be the resort controller) and while it can be a bit quiet onboard it is a nice way to cruise.

Posts: 249 | From: Halifax,Canada / Abu Dhabi, UAE | Registered: Jul 2003 | IP: Logged

gaz hants
First Class Passenger
Member # 5749

posted 11-12-2006 07:24 AM

according to their website there are a few for sale, ranging from doubles to 3/4 bedrooms.

Click here

my numbers failed to show, so my world won't be including residensea for the forseeable future.

i know there are cheaper world cruises but they last for 90 days for so. the world takes a year to get around with days on end in port.
if the lease is quite long it shouldn't devalue too much.

also do some years have higher maintenance costs than others (like a car service)?

[ 11-12-2006: Message edited by: joe at travelpage ]

Posts: 273 | From: hythe southampton uk | Registered: Jun 2005 | IP: Logged

feargus
First Class Passenger
Member # 3982

posted 11-12-2006 10:22 AM

Yes, i was slightly wrong. all apartments are sold from the original company, the ones available now are being sold by the apartments present owners.
for the maintenance the cost is spread over the years with a standard payment each year. she has been dry docked once in Portugal and is due to dock next year in the bahamas. No major items needed any attention, the resident use this time to change the decor etc of of their apartments. the kind of money that is floating around on there i doubt if they worry too much about the costs of maintaining the thing. not to say they have unlimited amounts of course but the costs of keeping their home away from their other homes wont bother them. it will of course be interesting to see her in 50 years if she lasts that long and if i last that long, she will be a classic by then...i probably wont be!

[ 11-12-2006: Message edited by: feargus ]

Posts: 249 | From: Halifax,Canada / Abu Dhabi, UAE | Registered: Jul 2003 | IP: Logged

PamM
First Class Passenger
Member # 2127

posted 11-12-2006 10:44 AM

So the annual fee quoted does include food and beverages. That apartment looks very small though, not really 'living' accommodation, more just for vacations? No hot tub on that balcony

Pam

Posts: 12176 | From: Cambridge, UK | Registered: Jun 2001 | IP: Logged

Cambodge
First Class Passenger
Member # 906

posted 11-13-2006 07:23 AM

Lordy that cabin is narrow! It would be like living in a bowling alley! But to the owners of multiple dwellings worldwide it would probably suffice.

[ 11-13-2006: Message edited by: Cambodge ]

Posts: 2149 | From: St. Michaels MD USA , the town that fooled the British! | Registered: Nov 1999 | IP: Logged

Ernst
First Class Passenger
Member # 5369

posted 11-13-2006 08:17 AM

quote:
Originally posted by Cambodge:
Lordy that cabin is narrow! [..]

This phenomenon is sadly not limited to "The World". It seems to be the consequence of being limited to outside cabins - the ships length is becoming the limiting parameter and the only way cabins can grow is becoming a tunnel. Very unpleasent indeed.

Posts: 9746 | From: Eindhoven | Registered: Jan 2005 | IP: Logged

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