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Prices of US private residence clubs, fractional projects slow to recover

Their prices are still down 25-30 per cent from the peak years of 2004-07

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In 2007, 88 quarter-shares were being sold at the Cloister Ocean Residences at Sea Island, Georgia. Though sales of private residence clubs and other fractional developments have begun to pick up, hitting US$516 million last year, the market remains a quarter of the size it was in 2007.

New York

SEVEN years after prices for private residence clubs and other fractional developments collapsed, the value of a small slice of paradise is still far from recovered.

Sales last year began to pick up, hitting US$516 million, but that is just a quarter of what it was in 2007

sentifi.com

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