MIRAMAR, Fla. (TheStreet -- The high seas may generate the next big wave of high-end property buying.The concept of selling residential units aboard a cruise ship first made a splash with the 2002 launch of The World, the only vessel of its kind. Others, however, have floated plans to capitalize on this unique real estate sector. The World, managed by Miramar, Fla.-based ResidenSea, is a far cry from the standard vacation ships run by Carnival ( CCL - Get Report) or Royal Caribbean Cruises ( RCL - Get Report). The 12-deck ship is owned co-op style, by its residents. Prices start at $1.4 million for one of the 165 units set aside for buyers.
|Since 2002, The World has travelled the globe as a residential community at sea.|