_Riversails condo at Serangoon launch aug 2012
Riversails Condo - An estimated 40,000 to 60,000 condo hotels are being developed for sale over the following 1.5 years. That will buy each one of these condos? What is the bubble in condo hotels? Does the buyer even demand condo hotel units?
Riversails Condo_
The real estate markets may have slowed, but all of us must remember that we've been setting records in sales volume. The decrease can be a reversion to an average historical pace.
Unlike traditional condos, condo hotels haven't been over-built or older supplied. In the Miami area alone there are 60,000 /- traditional condominiums in the marketplace or visiting market. The nation's way to obtain condo hotel units is less than this figure. The three largest markets for condo hotels in america is Vegas, Orlando and Miami; these are also three with the strongest hotel markets with high demand from seniors for retirement residences. 78.2 million seniors will reach retirement age over the following 14 years. The interest in condo hotel is simply starting to awaken and provide is a fraction from the overall vacation home or hotel development market.
Also, unlike traditional condos, condo hotels can produce hassle-free rental income.
The place market is marking another record year and demand is growing, forex trading underpins the opportunity investment value of condo hotel sales. If availability of new hotel strategy is constrained by construction costs so that as many existing resort rooms are transformed into condo hotel ownership, the economics for condo hotel owners could improve.
As mortgage lenders towards the condo hotel consumer, we've had the opportunity to get to know many buyers and learn top notch their motivations and demographics. Generally our clients have been real estate investment minded and savvy retirement home clients who would like another home for less than two to eight weeks each year for individual use. They've got owned other kinds of rental properties, and many have invested in commercial real estate. They often times site the will for appreciation and tax benefits before a 'cap rate' however they often have an intensive knowledge of the income potential of condo hotels.
There has been an increase in the variety of clients who are employing funds from the 1031 exchange to purchase a flat hotel unit. The common chronilogical age of our borrowers is 51 yrs . old, solidly in the baby boomer demographic. Nearly all are self-employed or with an average of 13-years inside their present employment positions. Notably, a majority of these buyers have expressed fascination with purchasing more than one condo hotel unit in various destinations, for individual use, diversification also to stagger seasonal cash flows from properties.
For upwards of Twenty years, the resort industry for condo hotels has proven a viable alternative to traditional condominiums and 2nd homes. Probably the most numerous examples have been in ski country, where families have purchased and used condo hotels as second homes having a rental program to offset costs. But this next generation of condo hotel buyers may look different as increasing numbers of people view the advantages to this real estate product.
Broad acceptance of condo hotel like a retirement home market has yet to completely develop. The media is stuffed with conflicting stories about condo hotels, and people are reasonably skeptical. The broad marketplace is not early adopters of the break through, the niche buyers are the initial customers to embrace any product, and condo hotel is proving no different.
Some projects have niche themes to draw in a specific narrow demographic of buyer. For example, college alumni who want to have condo hotel ownership for sports are purchasing. Downtown pied-a-terre locales that interest suburbanites or corporations who frequently send employees to some city center condo hotel destination are just starting to arrived at market and attracting a brand new buyer class. Resorts that provide lifestyle services and amenities have found 'member-minded' clients who may live just about to happen. These new consumers will define the next thing of the industry.
A flat hotel is much more than real-estate, it is a lifestyle purchase, a long-term investment along with a trend which is just starting to identify its demand.
Riversails Condo_
The real estate markets may have slowed, but all of us must remember that we've been setting records in sales volume. The decrease can be a reversion to an average historical pace.
Unlike traditional condos, condo hotels haven't been over-built or older supplied. In the Miami area alone there are 60,000 /- traditional condominiums in the marketplace or visiting market. The nation's way to obtain condo hotel units is less than this figure. The three largest markets for condo hotels in america is Vegas, Orlando and Miami; these are also three with the strongest hotel markets with high demand from seniors for retirement residences. 78.2 million seniors will reach retirement age over the following 14 years. The interest in condo hotel is simply starting to awaken and provide is a fraction from the overall vacation home or hotel development market.
Also, unlike traditional condos, condo hotels can produce hassle-free rental income.
The place market is marking another record year and demand is growing, forex trading underpins the opportunity investment value of condo hotel sales. If availability of new hotel strategy is constrained by construction costs so that as many existing resort rooms are transformed into condo hotel ownership, the economics for condo hotel owners could improve.
As mortgage lenders towards the condo hotel consumer, we've had the opportunity to get to know many buyers and learn top notch their motivations and demographics. Generally our clients have been real estate investment minded and savvy retirement home clients who would like another home for less than two to eight weeks each year for individual use. They've got owned other kinds of rental properties, and many have invested in commercial real estate. They often times site the will for appreciation and tax benefits before a 'cap rate' however they often have an intensive knowledge of the income potential of condo hotels.
There has been an increase in the variety of clients who are employing funds from the 1031 exchange to purchase a flat hotel unit. The common chronilogical age of our borrowers is 51 yrs . old, solidly in the baby boomer demographic. Nearly all are self-employed or with an average of 13-years inside their present employment positions. Notably, a majority of these buyers have expressed fascination with purchasing more than one condo hotel unit in various destinations, for individual use, diversification also to stagger seasonal cash flows from properties.
For upwards of Twenty years, the resort industry for condo hotels has proven a viable alternative to traditional condominiums and 2nd homes. Probably the most numerous examples have been in ski country, where families have purchased and used condo hotels as second homes having a rental program to offset costs. But this next generation of condo hotel buyers may look different as increasing numbers of people view the advantages to this real estate product.
Broad acceptance of condo hotel like a retirement home market has yet to completely develop. The media is stuffed with conflicting stories about condo hotels, and people are reasonably skeptical. The broad marketplace is not early adopters of the break through, the niche buyers are the initial customers to embrace any product, and condo hotel is proving no different.
Some projects have niche themes to draw in a specific narrow demographic of buyer. For example, college alumni who want to have condo hotel ownership for sports are purchasing. Downtown pied-a-terre locales that interest suburbanites or corporations who frequently send employees to some city center condo hotel destination are just starting to arrived at market and attracting a brand new buyer class. Resorts that provide lifestyle services and amenities have found 'member-minded' clients who may live just about to happen. These new consumers will define the next thing of the industry.
A flat hotel is much more than real-estate, it is a lifestyle purchase, a long-term investment along with a trend which is just starting to identify its demand.