For those seeking a holiday home with year-round sun, the Caribbean is always going to be high on the list, with its plethora of beautiful islands offering great weather, friendly English speaking locals, stable government, and often US$ linked currency.
However, if the prospect of an overseas purchase, with the staff and maintenance hassles that property ownership inevitably brings, is just too much to take on, then it’s time to look at the resort property option.
Resort properties offer ‘zero aggravation’ ownership (at a price.. maintenance and management fees can be steep) and the resort will rent out your property when you are not using it.
Typically, there are restrictions on Owner use (four to six weeks per year use is the norm) – and you will usually find the property sits in a ‘rental pool’ whereby returns from the individually owned properties are pooled and rental is shared, on a points or percentage basis.
So is this a good deal?
Example 1:
Cove Suite 1f at Blue Waters Antigua
The Cove Suites comprise 28 suites and penthouses which sit in four acres of manicured grounds on an elevated site, alongside (but private from) the Blue Waters resort. They enjoy fabulous ocean and sunset views and guests and Owners have full access to all amenities of this award winning resort.
Cove Suite 1f – Measuring more than 730 sq ft, 1f is spacious and private, with a large open-plan living and bedroom area and oversized bathroom, this ground floor suite combines classic beach living with modern luxury. The private outdoor seating area leads directly to the pool terrace and 50’ shared pool.
Blue Waters Resort is located in the north west corner of Antigua and is just a 10 minute drive from the airport. The resort sits in 17 acres of stunning grounds and offers four restaurants, three bars, three beaches and three pools (one adults only), spa, gym, tennis courts, children’s club and concierge service. 2017 World Travel Awards voted Blue Waters Antigua and Barbuda’s Leading Hotel.
Ownership entitlement: Full access to all resort amenities and facilities.
6 weeks per year use, of which three weeks may be taken in High Season (being roughly Christmas to Easter)
Financials: Asking price US$425k – Owners share 50% of the net pool returns. Deductions include actual maintenance charges plus a share of resort costs which may vary from year to year.
Example 2
Villa 316-7
Sugar Beach St Lucia
The 77 Sugar Beach Villas are scattered across the hillside overlooking a spectacular bay, with fantastic Piton and sunset views. Guests and Owners enjoy full access to all amenities and facilities of the five star Sugar Beach resort.
Villa 316-7 is a two bedroom, two and a half bathroom 1,988 sq ft property on a 7,880 sq ft freehold plot. It has a large, completely private terrace with 33’ foot pool. The Villa is built in a charming French Caribbean style, with cool and contemporary interiors and luxurious oversized bathrooms.
Sugar Beach, A Viceroy Resort sits on the south west coast of St Lucia in 130 acres of pristine rainforest, between the iconic Pitons – which are World Heritage listed, and overlooks two white sand beaches. It is a 40 minute drive from the international airport. The resort offers four restaurants, three bars, large main pool, watersports/dive centre, gym, tennis, kids club and butler service.
Ownership Entitlement: Full access to all resort facilities and amenities. 15% discount on food and beverage spend plus spa treatments. Four weeks per year use, of which two weeks may be taken in High Season (15 December to end of April)
Financials: Asking price US$3m. Owners share 37.5% of the net pool returns. Deductions include insurance and a maintenance contribution.
