IF YOU are struggling to find a property or piece of land of your own, it might be time to look to new horizons — on the ocean.
People are snapping up permanent homes on luxury cruise ships, where full ownership of a floating studio condo could set you back just over $446,500.
And it could be an attractive alternative for out-of-luck buyers in Sydney and Melbourne, with news the booming property markets there are close to peaking.
Permanent homes at sea provide all the comforts of a studio or multi-bedroom unit on land — plus unparalleled seafront views — and the idea is growing more popular.
Last week, Los Angeles-based luxury liner company Crystal Cruises announced it would deliver three new ships, each with 48 private residences ranging from 55.7 to 371.6 square metres.
The prices for units on these ships haven’t been released but are expected to be in the multi-millions, according to Business Insider.
The largest and oldest residential ship on the water is called The World, which first set sail in 2002 and offers 165 private residences.
Studio apartments on The World are selling for more than $US1 million ($A1.4 million) while the top suites are priced at up to $US13 million ($A17.7 million).
If you’re interested, you should know that added costs can be pretty steep. Residents pay annual fees to cover maintenance and staff wages, which can be another 10 per cent of the purchase price — making life at sea a better option for cashed-up retirees than struggling first-home buyers.
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