The Reefs Club has begun marketing its fractional condominiums to Bermuda residents, saying it could be the “ultimate stay-cation” or place for guests to stay.Starting at about $180,000 you could buy shared ownership with unlimited stays (based on availability) in a luxury two-bedroom oceanfront condo.The award-winning Southampton resort is billing it as the “ultimate Buy Bermuda opportunity”.Reefs Club sales associate Marlene Bicchieri said the fractionals were 40-percent sold.However, she said a softening in the fractionals market and the poor economy were not major factors in the decision to market to Bermuda residents?“The idea came about because we have so many expats living and working on the Island, many of whom will leave when their work permits expire.“We realise it would be wise to market to expats and Bermudians while they are here now instead of after they leave.”Bermudians or expatriates who buy a fractional can also take advantage of the opportunity to exchange up to three Bermuda weeks per year in order to travel to over 500 other locations around the world.“We know Bermudians enjoy travelling worldwide and ownership at the Reefs Club gives them this opportunity for a fraction of the cost,” she said.Ms Bicchieri said they have one Bermudian owner “who saw the value in our opportunity”.The fractional ownership system works by several owners all buying into and sharing one propertyShe added: “This provides an opportunity for expats in Bermuda on work permits to buy a shared ownership in a beautiful 2000-plus square foot ocean front condominium for a fraction of the cost- a home that they may come back to time and again year after year long after their work permit expires and they no longer live and work on our beautiful island.”She said fractional owners also receive one complimentary storage trunk to leave their Bermuda wardrobe behind in when they leave the Island, thus potentially making travel back and forth to Bermuda virtually luggage freeShe said prices start at $179,500 for a two bedroom share and $229,000 for a three bedroom share.“We believe this is the ultimate buy Bermuda opportunity and will be a wonderful purchase for our local Bermudians and expats alike to enjoy now and for generations to come,” Ms Bicchieri said.“You may purchase a shared ownership with up to 10 individuals who are 18 or older. Many of our owners have included their children with the idea that their entire family including future grandchildren will enjoy Bermuda now and in the years ahead.”She said owners could truly get an unlimited number of weeks at The Reefs, although it is based on availability.“We have 11 two bedroom homes and 8 three bedroom residences,” she explained.“An owner is not limited to one home, they have access to all the homes in the category they purchase, and all the homes look exactly the same. “Additionally, an owner may book more than one home during the same week based on availability and have a larger family celebration if they would like.Tucker's Point Club last July dropped the price of its fractional ownership villas at the Harbour Court Residence Club by more than $100,000, citing the global economy.