The private residence club at El Corazon de Santa Fe has announced it will make new financing options available to buyers, in a bid to stimulate demand during current economic conditions.

The New Mexico-based development offers ownership schemes for fully furnished, two-bedroom residences from $130,000 for a one-eighth share, and Rob Harper, development manager for El Corazon, explains: "We understand that times are tough for almost everyone, but we also know there remains a strong desire to have a vacation home in the downtown area, where new development is limited. Our financing program was created with the goal of allowing potential buyers to own affordable, luxury real estate in Santa Fe."

Recent house price projections from Moody's Economy.com predicted that Santa Fe's real estate market will grow at an annual rate of 3.6 per cent over the next decade, placing the city among the top 10 housing markets in the U.S. during this period.

"The Santa Fe real estate market remains relatively stable and a great value," Harper explained: "The city really didn't experience the sharp price speculation that other areas did a few years ago, so it didn't share the recent, dramatic decline in home values."