Visitors to Bermuda could get their holidays for free - if they decide to buy a property at the exclusive The Reefs Club in Southampton.

The new luxury private residence club, which is due to open next year, is offering to reimburse tourists up to $5,000 towards the cost of their 2008 holiday should they choose to purchase a part of the club, with ownership starting at $345,000.

It will also open up a new market to non-Bermudians to be able to feasibly buy a piece of real estate on the Island.

The Reefs Club is currently being built next to The Reefs hotel, and, in order to ensure everyone coming to the country has an opportunity to enjoy a free holiday, the offer is being extended to all Bermuda-bound travellers, regardless of where they stay on the Island.

"We encourage people to visit and discover what The Reefs Club offers Bermuda enthusiasts," said developer David Dodwell.

"Of course, we would like to have everyone stay at The Reefs to experience our hotel, however, we are usually sold out during the busy summer months.

"For this reason, we decided to extend the Free Bermuda Vacation offer to buyers who may be vacationing elsewhere on the Island.

"We welcome those who are interested in having a luxurious Bermuda vacation home to enjoy a personal tour of The Reefs Club during their visit and learn about our exciting ownership opportunity."

The Reefs Club features fully furnished two and three-bedroom residences with unobstructed ocean views.

The homes are also on the doorstep of the hotel's three gourmet restaurants, a spa, a private pink sand beach, and world-class diving and snorkeling facilities.

Amenities include an owner's lounge, infinity-edge pool, fitness centre and rooftop putting green with impressive views of the Atlantic.

Meanwhile, a concierge co-ordinates dinner reservations, golf tee times and on-site spa appointments and other Island adventures.

"Owning at a luxury fractional development such as The Reefs Club is essentially the only feasible way for foreigners to own real estate in Bermuda," said Mr. Dodwell, referring to the government policy that restricts the amount of real estate that can be sold to non-Bermudians.

"Because of their affiliations with hotel properties, private residence clubs are not affected by these regulations."

Currently, there are only 12 homes for sale in Bermuda starting at $4.8 million and 10 condos with an average price tag of $2 million.

For more information about The Reefs Club visit www.reefsclub.com or call the sales office at (1) 866-399-9568.