In this market the affluent still want an island getaway home – just for a lower price tag.

• Real estate developers are marketing affordable vacation homes to wealthy clients in a tough market.
• Developers are trying to avoid lowering the price on existing homes, and instead are advertising affordable second, third and even fourth homes that offer extra amenities like pools and beach access.
• The goal is to play to value and convenience, while still including the perks of a vacation house.

Facts & Figures

• At a sporting club in central Florida, members can buy 1,500 square foot cabins starting at $600,000.
• On a private island in the Turks & Caicos clients are able to purchase small houses for as low as $1.4 million, which is 44% less than the $2.5 million required for the island’s least expensive property and home previously.

Best Quote

“We’re trying to get the point across that you can have a great place in a wonderful island for, quite frankly, a reasonable price.” – Steve Schram, Chairman, DPS Sporting Club Development Co.

Tags: developer, economy, real estate, recession