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Condo Cruise Lines is selling out its first ship

Do you love cruising so much that you wish you could own an onboard suite and cruise whenever you wanted? Well, now you can. Condo Cruise Lines is buying older, medium-sized cruise ships and creating luxury condominium suites out of two-thirds of the existing suites. Investors can purchase the suites and live in them or rent them out to vacationers. The first, unnamed ship is 80 percent sold out.

Interestingly, according to a June 19 article in PR Newswire (registration required), suite prices ranged from $349,000 to $529,000 when they went on sale last January. But no one wanted to buy the smaller, cheaper suites. Condo Cruise Lines converted the single suites into three-room penthouses, which then sold out. It's not too late to snag one of the last condos left on the ship, but you'll be paying between $562,000 and $1,280,000 for your new home at sea.

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The ship will enter drydock in Singapore and renovations should be complete by early December. New amenities will include a spa, health center, casino, three lounges, six bars, a pool and sun deck, and a dining hall. The floating condominium will then head for San Francisco to start its two-year-long world cruise.

Owning a condo on a cruise ship seems like a complicated affair. Do you have to pay extra to eat in the dining room? How do you arrange for renters to get to the ship, get the keys, and pay you? If you're curious, contact Condo Cruise Lines. And don't forget to tell me what you think of this new way to cruise.

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