36
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DESTINATION FOCUS Marina resorts
www.opp.org.uk
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JULY 2009
WORDS
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Alex Evans
Y
INDUSTR
Buoyant market
Developments in the marina resort market highlight international buyer trends at all levels – with demand at the
luxury end continuing to grow but aspiration continuing to draw more mass market interest
Agents and developers actively revenue were sold in six weeks from of properties and moorings has helped of_f ers a relaxing weekend or short
targeting the af_f_l uent buyer March to April at The Landings, a luxury to bolster prices during the last 12 break without having to travel too far.
over the last couple of years marina development in St Lucia. Sold to months. “Demand has risen dramatically There are thousands of inland lakes
have not been as insulated from the a mix of nationalities including British, due to the increasing interest in here, meaning plenty of opportunity for
PEOPLE
downturn as they might have hoped North Americans and other Europeans, boating and recreational or retirement marina developments to meet the ever-
– and this is perhaps most apparent in sales director Oliver Gobat puts this properties,” claims Eric Watson, MD of increasing demand.”
the marina market. down to high quality and a recently Canadian agent Ultimate Properties Aspirational buyers are looking
As Nakheel began handing over 900 introduced scheme that guarantees International Realty. “Especially in beyond the local market for more exotic,
homes around the Anchor Marina on a rental return of 6% for two years. waterfront and fair-weather locations af_f ordable or exclusive waterfront
the Palm Jumeirah in April, with over “St Lucia promises a year round rental where there’s a lack of supply to match.” developments. With demand rising, and
1,000 more at the Waterfront in Badrah market, with higher yields and growth Hannu Mantyharju, deputy CEO of supply limited, man-made waterfront
due at the end of the year, construction potential in the north because of the Finland-based Holiday Club Resorts, projects have proliferated – with Dubai
TION
of big marina projects in Cyprus are beaches and nightlife,” he says. “Because has also observed increasing demand the most high prof_i le pioneer.
being delayed as lenders seek additional The Landings is built on reclaimed land, for waterfront living among domestic “Waterfront developments are always
guarantees in the downturn. it also of_f ers the rare opportunity of buyers. “The idea of having a second popular and in Dubai they’re expanding
Yet, while a number of ambitious buying freehold Caribbean beachfront home on the waterfront is very
DESTINA
marina projects have been delayed or property.” appealing and, for many Finnish people,
even shelved in recent months, others The exclusivity of_f ered by marina
have seen sales activity pick up recently. resorts certainly appeals to a certain
Eight apartments totalling $8m in sales type of buyer, and limits on the number
BUSINESS
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