Tuesday, August 29, 2006
Condo-Hotel Projects
In the current market, condo-hotel investors should be cautious about potential profits, according to some analysts. A new study by the National Association of Condo Hotel Owners predicts most South Florida condo-hotel projects won't even cover maintenance fees, property taxes or other costs.
Currently there is an oversupply of "condo-hotel" developments and the concept arrived too late to benefit investors from the recent past years of appreciation.
Many developers insist that buyers are not in it for the investment, but for a piece of vacation real estate--not unlike timeshares of the 80's. However, there are some projects that are doing well. Just do your homework before investing(buying).
Currently there is an oversupply of "condo-hotel" developments and the concept arrived too late to benefit investors from the recent past years of appreciation.
Many developers insist that buyers are not in it for the investment, but for a piece of vacation real estate--not unlike timeshares of the 80's. However, there are some projects that are doing well. Just do your homework before investing(buying).
