The World vs Ulyssia vs Somnio

[WorldTraveler1020]

I will begin retirement in a few years and have the means to buy an apartment on one of the residential ships. Does anyone have any thoughts?  Too risky to buy aboard either Somnio or Ulyssia given construction hasn’t begun?  Will the world be too close to its scrap date if I buy in 2028?  Thanks!

[WorldTraveler1020]

Ulyssia and Somnio are supposed to start the build this year. Also, virtually the entire staff of the Njord has left and is part of Ulyssia. 

 

 

 

Edited September 9 by WorldTraveler1020
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[Travel_Around_The_World]

Isn't Residences at Sea (The World) also building a new ship? I thought I read that somewhere. 

[WorldTraveler1020]

No, not that I’m aware of. 

[cmvikinger]

17 hours ago, WorldTraveler1020 said:

No, not that I’m aware of. 

 

According to this, the Ulyssia is the one @Travel_Around_The_World is referring to.

https://www.royist.com/travel/ulyssia-residences-ag-launches-320m-superyacht-in-collaboration-with-espen-oino/

[WorldTraveler1020]

This article is referring to the fact that a former executive of residensea, Alain Gruber, (who left residensea a decade ago) is on the team behind Ulyssia. Residensea has no connection to Ulyssia. 

[Gourmet Gal]

Residensea and Residences at Sea are not affiliated.  The World was developed by Residensea.

[Gourmet Gal]

I don’t recall the year The World was built.  I cruised aboard a few times shortly after so early 2000’s.  I recall the lifespan was projected to be 50 years.  That seems long but I don’t really know if it is.  I don’t know what happens then, a big write-off I guess.  Be prepared for well over 6 figures annually for normal maintenance, fuel, staff, etc. plus a minimum for food. You’ll be required to have a permanent residence ashore as well - possible as an owner IIRC.  I was lucky to find some great itineraries to sail but otherwise there are a lot of sea days.  Most owners skip those and fly to meet the ship for fairly short stays more like a second home.

[rebeccalouiseagain]

Yeah- The World was designed for people with disposable income.  The cabins won't be worth much in the next decade- as they become dated and the ship becomes a money pit. If The World had been "successful" there would be a fleet of Residential Cruise Ships.  I don't think they are a money maker.

[walkingsoon]

Pretty nice looking digs.

 

I see Ullyssia's build price estimated at $1.5B with 132 suites starting at $10M and annual fees at 3-3.5% of the purchase price. 

 

Somnio looks like it's 39 apartments starting at $11.2M and a build price of 500M Euros.

 

Hat's off to the OP for having the means. I don't see it as a big risk  (although you are 'investing' in a depreciating asset) so much as I see many attractive alternatives at that level. For example, you could book highest end available spaces on the fly and pay a service to have your belongings shipped ship to ship with no effort required on your part. Then you wouldn't have to worry about that one specific ship manager's or owners' association having plans that don't align with yours.

 

Out of my reach, but I wonder if Oceania or Azamara couldn't take their next R-Class due for retirement and turn that into a workable residential cruise ship.

[Gourmet Gal]

22 hours ago, rebeccalouiseagain said:

Yeah- The World was designed for people with disposable income.  The cabins won't be worth much in the next decade- as they become dated and the ship becomes a money pit. If The World had been "successful" there would be a fleet of Residential Cruise Ships.  I don't think they are a money maker.

Ulyssia is a creation of the team that developed The World. The owners update and maintain their units on The World beautifully because they have the means to do so but I don’t know the details of the wind down towards year 50 or how that affects resale.  Obviously it’s not an investment but something fun to do with one’s money.