SOUTHAMPTON, BERMUDA – Bermuda’s real estate market continues to be strong,
despite slowdowns in the United States. In fact, under-supply and
over-demand are driving up prices, and magnifying a vacation home trend that
started on the island a few years ago. As of the first week of September, 12
houses starting at $4.8 million and ten condos starting at $1.3 million are
the only real estate properties available for non-Bermudians to purchase,
according to Rego Sotheby’s International Realty agency.

A government policy enacted in 2005 restricts the kind of real estate that
can be offered to foreigners, thus drastically limiting the supply of
vacation homes available on the popular island. That’s why fractional
ownership is becoming the hottest trend to hit Bermuda. The Reefs Club, a
high-end equity residence clubSM development next door to the world-famous
Reefs hotel, is ready to meet the demand.

“Right now there’s such a limited supply of real estate in Bermuda,” says
Buddy Rego of Rego Sotheby’s International. “Locals are not able to sell
property to non-Bermudians. Residence clubs such as The Reefs Club fill a
niche. They’re selling to people who want a vacation home in Bermuda, but
don’t want the multi-million dollar price tag.”

Residence clubs are also ideal for those who want to spend several weeks per
year at their home, but don’t want the hassles of upkeep, maintenance,
security and insurance costs associated with traditional whole ownership.

The Reefs Club offers hassle-free vacations at a fraction of the price of
traditional island homes. Starting in the mid $300’s, Club owners can enjoy
a spectacular beachfront location, rooftop putting green, fitness center,
and the famous La Serena Spa, among other amenities.

The Reefs is celebrated as one of the “World’s Very Best Hotels and
Resorts”, “The World’s Best Top Hotels for Service”, and one of the “World’s
Best Family Resorts”. Now The Reefs Club will offer that same first class
service and hospitality.

“The more we researched and asked our guests about fractional ownership, the
more we realized it’s ideal for people who want to own something in Bermuda,
don’t want the year-round responsibilities, and want to be able to keep it
in the family,” says David Dodwell, president of The Reefs Club development
company. “The response from repeat guests and their families has been
exciting,” Dodwell adds, “And because they’ll own a piece of The Reefs, they
can come more often and enjoy those services and amenities we’re famous
for.”

The Reefs is known for making guests “Feel Perfectly at Ease” during their
stay on the island. Now they’re inviting families to “Live Perfectly at
Ease” with their own slice of paradise to enjoy for generations. The Reefs
Club offers fully furnished two and three bedroom homes with unobstructed
ocean views, just steps away from award-winning restaurants, a private pink
sand beach, and world class diving and snorkeling. A quick phone call to the
concierge and dinner reservations, golf tee times, and on-site spa
appointments are made. Owners can also take advantage of personal storage
for golf clubs, diving gear and of course, the essential “Bermuda shorts”!
The Reefs Club is part of the Elite AllianceSM – an exchange program
offering owners luxury vacations at other private residence clubs around the
world.

The luxury shared ownership concept has grown into a $2.1 billion industry,
reports industry consulting firm Ragatz Associates. Equity residence clubSM
properties now grace some of the world’s most exclusive destinations, from
Cabo San Lucas and Aspen, to Manhattan and Florence. Although often confused
with timeshares and destination clubs, private residence clubs are quite
different. Club owners actually own deeded real estate, which can be sold or
willed just like any other form of real estate. Owners are part of an
exclusive vacation country club, and reserve accommodations well in advance,
and on a short-notice, space-available basis.

DCP InternationalSM is an equity residence clubSM consulting firm that works
exclusively with independent developers such as The Reefs Beach Club Ltd.
DCP InternationalSM pioneered the equity residence clubSM concept and is the
most experienced consulting firm in the industry. DCPI residence clubs have
generated more than $700 million in sales to date and the company currently
has more than $2 billion either sold or under contract. DCPI has consulted
with private developers on more than 30 projects in the United States,
Mexico, the Caribbean, and Europe.