Travelers who fantasize about owning a superyacht may be able to turn their dreams into reality — at a much lower price.

As they’re called, residential yachts are basically apartment buildings on the sea. Property buyers purchase large yachts to live on, and not own or operate smaller boats.

The yacht can be sold once most of its apartments are gone. Once that happens, it functions as a luxury line and cruises the globe, with staff on board and easy access to spas, restaurants, wine cellars, gyms, and other amenities.

One residential yacht is SomnioVard is building a superyacht that measures 728 feet long. When it is completed, in 2024 it will become the largest yacht on the planet. according to Vard’s website.

Somnio offers 39 apartments and starts at 9.5million euros (or $11 million). Erik Bredhe is Somnio’s founder and captain. He said that prices vary depending on apartment size and where they are located. Higher units will cost more.

However, $11,000,000 is not. more than enough to purchase a private yachtIt is not even close to the price of a superyacht.

Yacht influencer Denis Suka — known as “The Yacht Mogul” to his more than 550,000 Instagram followers — told CNBC he is helping to design a 295-foot superyacht called Mogul.

He said that the project will be completed at a cost of around $150million with one buyer.

Mogul is twice as long as Somnio.

According to Somnio, the yacht’s crew will take care of maintenance, repairs and fuel supplies as well as shore excursions. Somnio also states that staff will plan the journeys, but residents are able to recommend places. according to the company’s website

They are not free. Bredhe said that buyers must pay an annual fee, which includes expenses such as fuel, maintenance and food, as well personal services. Somnio has a no tipping policy, Bredhe stated. This can include anything from 0 to 100. 15% to 20% of yacht charter costs

Bredhe stated that only invited buyers can own the boat. He said some people have approached the company directly, while others have referred friends and family.

For another, it is the same. residential yacht named The WorldThe company was founded in 2002.

CNBC was informed by a CNBC representative that all residence types had seen significant increases in their value following the launch of the ship. This is due to demand from potential buyers worldwide.

Bredhe said that although owners can’t rent their apartments out, family members and friends may be able to use them if the owner isn’t there.

You can also find studios there one- to three-bedroom apartmentsThe prices can range between $2 million and $15 million. A few of these are up for sale right now, according to a representative from the company.

A current resident said that he was inspired by The World’s unique sailing experience in Rio de Janeiro. He asked for anonymity because he did not want to reveal his identity.

According to CNBC, the resident lived aboard the yacht for four-years. He has since traveled extensively in Indonesia, Madagascar and the Mediterranean.

“We like the carefree nature of being able to go to our home on The World whenever we like and only having to take hand luggage — as we have both summer and winter wardrobes aboard,” he said.

He stated that he had never considered purchasing a private yacht as “our friends have nothing but issues with staff and mechanical issues which seem to severely spoil their enjoyment.”

Since its launch, The World has traveled to places such as Greenland, the British Isles and the “White Continent” — Antarctica.

Another superyacht — the 948-foot-long Njord — is scheduled to be completed by 2025. The company also plans to offer apartments aboard to those who desire the excitement of ocean travel but don’t want to own a yacht.