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By Jaime Cunningham
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For anyone fantasizing about buying real estate but unable to settle on a location, there's an ideal new solution: invest in a condo on a luxury cruise ship. Cabin owners can not only list exclusive ports of call as their temporary addresses but also enjoy the amenities offered on traditional holiday cruise lines, from restaurants and athletic facilities to Internet access and theaters.
Launched in 2002, the World is the first condominium cruise ship. In addition to its 110 luxury residences, the ship has a medical center, a swimming pool, an art gallery, a spa and restaurants. Ports of call vary by season, but within a single year, the World promises to hit the most desirable seaside locales in the Mediterranean, western and southern Africa, the Caribbean and Asia. A 31-square-meter studio starts at $825,000, including furnishings and an entertainment center. Rentals are also available, starting at $1,300 a night per unit (aboardtheworld.com).
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Two more condo ships are set to launch within the next three years. Four Seasons Ocean Residences will offer similar amenities but will also cruise to some of the world's most exciting events, including the 2012 London Olympics, Rio de Janeiro's Carnival and the Monaco Grand Prix. Condos start at $2.8 million (oceanresidences.com).
Beginning in 2010, residents can set sail on the Magellan, a 200-unit luxury liner that will sport a heliport, a theater, a casino and an observatory complete with a resident astronomer. Prices start at $3.3 million; fractional ownership is also available (residentialcruiseline.com). Seems like the right way to sail off into the sunset.
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