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Are you thinking of buying a FL condo hotel on a Florida golf
course? FL condo hotels are one of the hottest products in todays
FL real estate market. New properties are being added in different
parts of FL and the country and new buyers are entering the market
daily.
Virtually every single FL condo hotel that has come on the market
to date has sold out in pre-construction.
Most of these properties are mega high-rise buildings with an average
200-500 units, and with some in excess of 1,000 units.
South FL is one of the extremely popular Florida condo hotel
areas and has shown strong and steady appreciation. As already
mentioned, the Florida condo hotel trend which began in South FL
has now spread out west. Las Vegas is leading the pack with many
new condo and FL condo hotel developments in all price ranges being
built.
The latest FL condo hotel trend is where developers buy existing
structures on Miami Beach and upgrade them. In one instance, Bal
Harbour a multi-family high-rise building (Harbour House) was demolished
and a five-star FL condo hotel was built in its place.
Some FL condo hotels are beginning to crop up inland. These
may not have oceanfront views, but they're within a few short blocks
of a beach. Seeing as they're not on the ocean, these hotel condos
tend to be priced more economically.
How does a FL condo hotel compare with a timeshare? A FL condo
hotel is far more exclusive and includes many more luxury amenities
and services than timeshares. They tend to be larger units, usually
three to five bedrooms. Timeshares usually allow you use for just
one to two weeks per year.
A FL condo hotel is usually used as a second home. Owners
can use their FL condo hotel vacation homes when they want and place
them in the hotels rental program the rest of the time. Theyll
receive a share of the revenue their unit generates, typically about
50%. Because the onsite hotel management company takes care of finding
guests and maintaining and operating the property, FL condo hotels
offer hassle-free ownership.
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