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Are you thinking of buying a Florida condo hotel on a Florida golf
course? Florida condo hotels are one of the hottest products in todays
Florida real estate market. New properties are being added in different
parts of Florida and the country and new buyers are entering the
market daily.
Virtually every single Florida 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 Florida 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 Florida has now spread
out west. Las Vegas is leading the pack with many new condo and
Florida condo hotel developments in all price ranges being built.
The latest Florida 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 Florida condo hotel was built in its place.
Some Florida 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 Florida condo hotel compare with a timeshare? A Florida 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 Florida condo hotel is usually used as a second home. Owners can
use their Florida 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, Florida condo hotels
offer hassle-free ownership.
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