The Rise of North American Investment in Dominica's Secret Bay: Exploring Diverse Ownership Options
The Surge of North American Interest in Secret Bay
The Residences at Secret Bay, the crown jewel development and the only six-star, all-villa resort in Dominica, has witnessed a remarkable surge in investment interest from North America in the first quarter of 2024. A staggering 35% of the total investors in Secret Bay during this period hailed from North America, a significant jump from the same period last year, when only 5% of investors came from the continent.
This heightened interest from North American buyers extends beyond the resort's sought-after Citizenship by Investment (CBI) program. In fact, out of the total investors for Q1 2024, 40% were lifestyle, non-CBI clients, with an impressive 80% of those clients originating from North America.
"This interest from North American buyers and investors is really a testament to their desire for an offering that has a successful track record, and that provides numerous lifestyle and investor benefits like a "Plan B" and mobility," said Marvlyn James, Director of Sales and Marketing at GEMS Holdings Limited.
Diversifying Ownership Options at Secret Bay
In response to this exceptional demand, The Residences at Secret Bay has expanded its ownership offerings, providing more diverse investment opportunities for both CBI and non-CBI clients.
Whole-Ownership
The most coveted way to own a villa at Secret Bay is through The Residences' whole-ownership program, the perfect route for buyers seeking a private island home experience that they can call a home away from home. Whole-ownership sales include a return on investment, use of your private villa 10 – 24 weeks per year, plus optionally qualify owners access to a second citizenship.* Additionally, owners also become members of Secret Bay's ThirdHome exchange program. Prices range from $1.4 Million to $4.5 Million.
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Fractional Ownership
The most effortless way to own a villa at Secret Bay is through the Residences' fractional program. This option is excellent for buyers seeking the benefits of ownership and a place to retreat. Unlike many other resort fractional sales, Secret Bay provides a return on investment; plus, fractional owners may optionally qualify for a coveted second passport. Each fractional purchase includes a one-week per year stay, membership to ThirdHome, and no annual fees. Those seeking more weeks may complement a fractional purchase with a gemstones membership. Prices start at $216k.
Citizenship by Investment
This option continues to garner praise from astute global investors who seek a path to ownership that unlocks the opportunity for citizenship and a coveted second passport. The CBI route is optimal for jetsetters seeking a real property interest in an established resort with a proven track record of financial performance. CBI ownership includes one week per year, membership to ThirdHome, and a path to exit after three years. Those seeking more weeks may complement a CBI purchase with either a gemstones membership or whole ownership. Prices start at $216k.
Residence Club
A Residence Club like no other, Secret Bay's gemstones program is designed for those seeking an ownership experience without paying for unused time. Members can buy one of three gemstone Memberships: G30, G50, or G80. They will gain vacation credit and preferred pricing for future stays at Secret Bay, along with privileged access to the resort's six-star services and amenities. There's no expiration, no fees, and like whole-ownership, fractional, and CBI, gemstones include membership to the ThirdHome program. Priced from $30k to $80k.
Accolades and Recognition
Secret Bay and The Residences continue to be heralded by top publications worldwide, earning merit awards and features in prestigious international journals. For the third time in four years, Secret Bay was named Travel + Leisure's #1 Resort Hotel in the Caribbean, Bermuda, and the Bahamas. Secret Bay also made Conde Nast Traveler's list of best Caribbean resorts.
Other notable accolades include being named one of the Caribbean Journal's best luxury boutique hotels in the Caribbean, being spotlighted by The Times UK as one of the coolest hotels in the Caribbean, and being showcased by Fodor's as a spectacular hotel. The Wall Street Journal, the most discerning global business publication, featured The Residences' highest-priced offering, a $10.3 million compound, and citizenship as an amenity.
The Residences were also featured prominently in United Airlines' in-flight magazine, Hemispheres, and multiple UK publications, including GQ and Vogue, highlighting them as desirable vacation home offerings. The property is the first and only property in Dominica that is affiliated with the elite luxury brand Relais & Châteaux.
Conclusion
The surge of North American investment in Dominica's Secret Bay is a testament to the resort's exceptional offerings and its ability to cater to the diverse needs of global investors. By expanding its ownership options, Secret Bay has positioned itself as a premier destination for those seeking a luxurious, sustainable, and secure investment opportunity, whether through whole-ownership, fractional ownership, citizenship by investment, or the unique gemstones program. As the resort continues to garner international acclaim and recognition, it is poised to attract even more discerning buyers from North America and beyond.
