They’re putting the “ship” in homeownership.
Storylines cruises is offering landlubbers the opportunity to own a piece of a luxury liner on which they can sail around the globe once every three-and-a-half years.
The 741-foot, 55,000 ton MV Narrative is under construction in the largest shipyard in Croatia and should be ready to take passengers — or, in this case, owners — on their first trip in 2024.
Storylines Chief Executive Officer Alister Punton stressed to the publication owners of the apartments are not buying timeshares, but will have full ownership of their residences or can opt-in via 12- or 24-year leases. Unlike a timeshare, there is no limit on the amount of time a person can stay in their home, and he said some will live there 365 days a year. Owners who buy outright will get a perpetuity clause that allows them to roll over into a new residence on a future ship without making an additional purchase.
Cruises will also be a bit different than your average line, stopping in ports of call for longer periods of time and remaining in geographic regions for three months at a time. Destinations will be determined with input from residents.
Of course, the amenities come at a price. An additional $2,365 per person, per month, cover all meals, wine and beer, certain spirits, tips, WiFi, laundry service, and onboard activities and entertainment.
It’s not the first time residences are being offered for purchase on a cruise ship. The cruise ship The World has been offering homeownership at sea since its launch in 2002. Back in 2007, Four Season Hotel and Resorts planned to sell high-end ocean residences aboard the Magellan, a 13-deck, 719-foot ship, for prices ranging from $3.8 million for a one-bedroom to $40 million for a triplex penthouse.
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