Until recently, the ‘Residential Cruise Ship’ concept was represented by one ship, the five-year old The World. Now there are at least four additional ships that are in various stages of development. Here’s a quick rundown to get you started. But we know, as a Halogen Guides reader, you expect more from us – research into how these residences are sold, owner rights and obligations, the annual maintenance fees and what the ‘after-market’ might be for these units, since you might want to sell. So we will reach out to each firm over the next few weeks and try to get these questions answered – and get past some of the marketing hype.

If you want to cut to the chase, then Download our Guide to Residential Cruise Ships.

How the Concept Works

Itineraries for these mega-ships go year-round, with stops of a few days at every port. Currently, The World is the only currently operating ship – here is their 2007 itinerary. Depending on the ship, there are several options: full ownership, fractional or shared ownership and rentals – for those that to experience the ship as a vacationer.

The World by ResidenSea

The only ship currently sailing, The World, five years since its launch, has sold all of its units. Each year, residences do come up for resale. Vacationers can still experience The World without purchasing a residence. Units varying from studios to 6-bedroom apartments rent from $1,200 to $4,200 a night, with a minimum stay of six nights. Prices are based on double occupancy of two guests per bedroom. Any additional guests will be charged a $350 per person, per night fare.

One destination club, Exclusive Resorts, owns several units on the World, and we hear from members of that club that they are very popular and are booked 12 months in advance – at least for the desirable routes.

The Four Seasons Ocean Residences

The Four Seasons Ocean Residences is a venture of Ocean Development licensed by the luxury hospitality company. The Four Seasons has plans to launch in 2010, hitting Norway, Bermuda, and the Caribbean among other locations in its first voyage. Residence sales commenced in May 2007, according to a Four Seasons Ocean Residences press release.

The towering 13-deck ship offers 112 residences based on whole ownership and a 50-year leasehold basis. Residences run from $3.75 million to $39 million, and sizes range from 797 square feet for a 1-bedroom unit to 7,860 square feet for a 4-bedroom unit.

The Magellan

Currently still awaiting construction is The Magellan, plans to launch from Portugal in 2010, to 150 different countries, with 300 different ports of call in its first two years. Full and fractional ownership choices are available via a 100-year leasehold. All of the 212 residences on board are available for full ownership, while only the 138 residences on Decks 6, 7, 8, and 9 are fractional ownership residences.

Residence sizes range from 600 square feet for a 1-bedroom apartment to 2881 square feet for a 4-bedroom penthouse. 1-bedroom apartments start at $1.8 million and prices reach as high as $8.8 million for a 4-bedroom penthouse. Annual fees start at $96,000. Fractional residences are sold in one-month increments, starting at $156,250 per month. Fractional ownership operates under a first-come, first-serve basis, with first-comers having their choice of preferred months of ownership and residences.

Orphalese

Currently under construction in Finland, Orphalese plans to launch in 2008. 200 permanent residences ranging from the 1,000-square-feet, 2-bedroom Pegasus Estate to the 3,700-square-feet, 5-bedroom Penthouse are available for full ownership. The 2-bedrooms start at $1.8 million with $30,000 in annual fees, while penthouses start at $10 million with $78,000 in annual fees. 265 guest suites are also available on the ship for cruise passengers who do not own residences. More here.

Voyage Partners

Frankly, we don’t know too much about this new offering, but will do some research. But we already have one review about them in our database – which is surprising since the boat has not been built yet. According to their website, the first ship is almost sold out.

For a comparison of all four ships at a glance, see the chart below.

If you are an owner at The World, or have signed a purchase agreement for any of the other ships, send us your feedback at tips@heliumreport.com.