Bermuda's Reefs Club Reports Brisk Sales in June

Bermuda's Reefs Club Reports Brisk Sales in June

Vacation News » Vacation & Leisure Real Estate Edition | By George Sell | July 12, 2011 10:00 AM ET

The Reefs Club, a fractional ownership private residence club in Bermuda, has made 40 fractional real estate sales during two weeks in June, welcoming 37 new members and three existing owners who have purchased an additional fractional interest.

"Having completed construction of The Reefs Club in the midst of the recent economic recession, we are thrilled and encouraged at the recent sales success. It is a testament to the strengthening of the private residence club market and the peerless nature of The Reefs Club product," said Peter Kempf, president and CEO of Peter Kempf International, the club's sales and marketing consultant.
Owners at The Reefs Club purchase a 1/10th deeded interest in one of 19 two-or-three-bedroom  residences, with prices start at $179,500 (USD) for a two-bedroom, and $229,000 for a three-bedroom unit.

David Dodwell, whose family has owned and operated The Reefs for 37 years and who is the developer of the club said: "We are very pleased with the success of our recent sales drive and would like to welcome the new owners to what we earnestly believe to be the best vacation home value proposition in the world."

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