ALL aboard for an offshore asset with a difference - the floating condo.

It’s the property investment which brings the wonders of the world to your doorstep (or should that be gangplank?).

Just imagine it…through your panoramic window, the morning sun reflects off the glittering sea and, as you slip out of your luxurious bed, you wonder what awaits you on the horizon.

Dancing in the streets of Rio at carnival time? Christmas in the Caribbean? Or perhaps a shopping spree in New York. All this and more can be within minutes of your luxury penthouse, while, thanks to modern technology, you can still stay in constant touch with your investments and family and friends back in the U.K.

It all began with the launch of The World Of ResidenSea, a condominium ship boasting 165 luxury residences, six years ago. With homes selling for £1.45million to £5million, this 43,524-ton ship was presented as the ultimate private property enclave for those with serious money. And it created a huge stir in the property, cruising and holiday sectors as the only luxury condo ship plying the world’s oceans.

Now a new generation of condo ships are now being built as wholly residential floating villages. Four Seasons Ocean Residences and the monster-sized Magellan are newly-built vessels due to be launched by 2010.

A huge incentive for prospective investors in the Four Seasons floating condo is that the 112 private residences on the 48,600-ton vessel will be managed by Four Season Hotels & Resorts - although, predictably, this service will not come cheap. A one-bed berth costs from £1.875million - and goes up to £20million for a four-bed triplex. But for this sort of investment you get your own penthouse with wraparound terrace, a twin-bathroom master suite, a home office and hotel-style concierge services on call 24/7.

Four Seasons Ocean Residences

In its first year, the ship is scheduled to sail to the Amazon, Antarctica and the Grand Prix in Monaco. The pace, though, will be relaxed, with 250 days in port each year.

Rival Arizona-based Residential Cruise Line is aiming for bigger and, they claim, better with plans to launch their own $750million condo ship, Magellan, in mid-2010, with even more units on offer. The ship will feature 210 residences, with full ownership prices from £1.8million to £3.5million. This 76,000-ton ship will be the largest existing or planned condo ship in the world, carrying 1,100 passengers plus 350 crew, and is expected to travel to 150 countries and 300 ports annually.

With these projects in mind, it looks like the future could see an increasing number of investors waiving their option on a landlocked apartment or villa in favour of a life on the ocean wave.