Private Residence Clubs explained

A Private Residence Club or PRC's can be described as the most exclusive form of shared ownership of hospitality serviced luxury real estate, including penthouses, hotel and resort suites as well as lodges, villas and apartments.

Private residence memberships in South Africa are commonly found in exclusive golf and wine estates, as well as luxury hotels and game parks. 

Owners or members purchase a fractional ownership interest in one or more luxury suites or residences, with each owner enjoying exclusive and flexible right to use for a defined period each year.

Owning a luxury vacation home should be a pleasure, and not a burden. Private residence clubs offer a more advanced form of shared or ‘fractional’ ownership of luxury vacation homes without the upkeep and maintenance headaches associated with 100% holiday home ownership.

Not only is your residence impeccably maintained and looked after, owners will also enjoy all the guest services and benefits of a five-star hotel.

The residences usually form part of a 5 star hotel or they are free standing apartments, villas or lodges that are directly serviced by the hotel whereby owners will typically check into their residence through the main reception or dedicated membership concierge, and for the duration of their stay, members have full use of the resort amenities such as the spa, gym, clubhouse, as well as other recreational facilities such as golf, game viewing and even ski passes.

Globally, the majoity of private residence club memberships are offered at a prestigious and exclusive estates, whereby whole ownership of real estate is known to be very expensive or extremely difficult to purchase, therefore private residence memberships offer unique hassle free ownership and usage option at a fraction of the cost of whole ownership.

Fractionals and PRC’s generally offer investors more ‘real estate’ ownership over limited period ‘right to use only’ or time-sharing products. Memberships can be owned by more than one person, also transferred or re-sold to another person, subject to the club rules.

Decor

PRC residence’s are specifically decorated with luxury, comfort and style and generally fitted and equipped with top-end hard and soft furnishings that you would expect from a very luxurious villa.

Usage and global exchanges

The leading private residence clubs offer their members flexible usage options; this includes global exchange into other luxury holiday homes and residences in some of the most exclusive resorts and travel destinations in the world. The average ‘right to use’ is 21 days per year, with some memberships offering unlimited usage on a rotating priority system within each residence.

Private residence clubs in South Africa

There are some truly world resorts that offer private residence clubs in South Africa, these resorts are fast becoming globally recognised brands due to the size and quality of the fractional residences, with guests being treated to the infamous warm, professional and friendly hospitality of the South Africans. Although currently a limited number resorts and hotels that offer private memberships, this is set to change with some of the leading resort and hotel brands releasing memberships into the market over late 2010 and 2011.

The magnificent geography of South Africa offers PRC owners a wealth of unique experiences from world renowned Safari and wildlife viewing to the majestic mountains and dramatic coastline and beaches, it will take years for anyone to experience everything this country has to offer.