Article
An Introduction to Miami Condo Hotels
The condo hotel is a comparatively new concept in the field of real estate and the first Miami condo hotel, the 172 unit Mutiny in coconut Grove,made its début only a few years back. Its success story tempted the same developers to go for their next Miami condo hotel project which consisted of 224 units and was managed by Sonesta International Hotel and it was named Mutiny Park.
However, with the concept of condo hotels kicking off with a bang, many developers jumped in to bite off this chunk of Miami’s real estate market. The next to join the band wagon was the Ritz Carlton who built up a massive Miami condo hotel whose188 units were sold out even before the completion of the construction.
Today, Miami has the richest selection luxury condo hotels. W Hotel-Condo and St Regis in Bal Harbor are two prominent Miami condo hotel properties that have steadily appreciated in their values every year since their inauguration. Hotel condo properties are in the form of exclusively done up condominium suites in some of the world’s most famous hotel chains or luxury resorts.
Miami’s popularity as a world famous tourist destination has made the concept of condo hotels extremely fashionable in Miami. For a long time Miami has been the most sought after vacation destination for celebrities, wealthy businessmen, and retirees. Even the overseas buyers flock into this sunshine city to set up their second homes and what can be more convenient for all these property buyers than a well managed, luxuriously appointed unit in a Miami condo hotel? As a result, Miami’s condo hotel sector experienced a sharp growth over just five years time.
The Real estate ad-makers fondly label them as “the private jets of luxury living”. Naturally, you should be prepared to open your wallet a little wider when it comes to investing in one of these Miami condo hotels. According to a flat estimate, Miami condo hotels are twenty five percent more expensive than their non-hotel counterparts. In spite of this, they are still worth your investment; on the one hand it brings all the five-star amenities right to your finger tips, making you feel like royalty, And on the other hand, it promises an enormous capital growth which traditional condo properties cannot promise.
All the big names are associated with Miami condo hotel properties. In addition to Ritz Carlton and Sonesta, you can also find condo hotels run by Four Seasons, Regent International, Hilton, Le Meridian and more. Depending on your requirements and of course your wallet size, choose your dream vacation home in the world’s hottest vacation destination. Your Miami condo hotel investment will keep on giving you good returns for years, both in terms of money and in terms of lifestyle.
- Go back
Sign up now to learn about new condo developments and investment opportunities.
