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

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, according to a recent report from Ragatz Associates, which tracks this market. And the prices for those shares that did sell are still down 25-30 per cent from the peak.