My It source: May 20, 2011

Condo Hotels one of the hottest products in today's real estate market is one. New properties are cropping up in different parts of the country and new buyers are entering the market daily. Things in terms of condo hotels have been moving so quickly, but sometimes a way to step back and look at the big picture is worth taking moment.

Condo Hotels In General: There is a spreading enthusiasm about the condo hotel concept. More people to list their potential and therefore more are recognizing the demand.

Condo hotel buyers: the average buyer is 35-50 years old. Florida properties, where condo hotels are most popular for the buyers come from all over the U.S. on the international front, most foreign property buyers interested in U.S. and Europe to South America.

The vast majority of buyers of condo hotel units primarily as investments and want hassle-free ownership with the benefit of the parties focused on the ability to appreciate. They really important, but secondary to our goal of investment diversification as a holiday home as the ability to use your condo hotel unit to see.

Condo hotel market: almost every single property on the market to date has come out in pre-construction have been sold. Most of these properties with on average 200-500 units, and over 1,000 units with some mega high-rise buildings.

Speed with which these properties sell out is often as surprising to buyers as it is the developers themselves. For example, in Las Vegas, MGM Grand, a 576 unit condo hotel, was expected to sell out in two years. It sold out in two months! Platinum, a 255 unit property in Las Vegas, still sold out in a matter of two months.

Hot areas: South Florida is a very popular area and one that continues to be strong and steady appreciation is shown. As already mentioned, condo hotel trend which began in South Florida is now spread out west. Las Vegas many new condo and condo hotel developments in all price ranges are being built with the leading pack.

Increase in Florida: Looking at South Florida, it is easy to see what's going on. Miami Beach, Hot Zone, all created. There just is not an undeveloped land. Having a couple of things that cause. Developers Miami Beach (North Beach) and areas still further north the north end of inches as to Sunny Isles and are going. Lauderdale.

A new trend is developers buying existing structures in Miami Beach and either upgrading them, the case of mimosa, which was as former Brazil Motel, or knocking them down and start over in case of a Bal Harbour in which a multi-family, high-rise building (Harbour House) was demolished and in its place a five-star condo hotel built.

Finally, some properties are beginning to crop up inland. These condo hotels may not have oceanfront views, however, they are within a few blocks to the beach. Because they're not on the sea, these properties are more economically priced.

Properties: The most popular properties for a franchise name, one that brings a reputation continues to be the 4-5 star quality or a name that is already known. A prime example is Canyon Ranch Living in Miami Beach. Canyon Ranch name people recognize and believe that this property only five star caliber as its Arizona counterpart seems to be. Of course, it does not hurt that this property will be a 60,000-square-foot terrace spa and fitness center.

My It source

Friday, May 20, 2011

Condo Hotel Trends - A Look at the Big Picture in Vacation Home Ownership

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