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When is the last time you drove down
Collins Avenue
in the heart of
Miami Beach
? If it has been awhile, then you might be shocked! Views of the beach
running along the coastline are long gone, and have been replaced by high rise hotels
and condominiums. The same holds true for many of the hot vacationing spots throughout
the world. So much that the $350 million Trump International Hotel and Tower
at Waikiki Beach Walk being developed isn’t even on the water, it is being built
offshore because land could not be secured directly on the coast. The reason
for this is simple, there is a shortage of land, especially along coastlines, and
investors have had to turn to alternative development methods in order to compensate
for active and luxurious lifestyle demands.
With top of the line health care, an emerging economy, a stable political system,
vast options for entertainment, and a real estate market that has historically appreciated
very well, many people are opting to reside somewhere in the U.S. If only
10% of the 135 million World Boomers purchase a residence in the
U.S.
, then the population of the
United States
could increase by 13 million over the next 15 years.
The National Association of Realtors and the National Association of Home Builders
both agree that “boomers” want to purchase luxurious second homes, with features
and amenities similar to their main residence. That is why the demand for
Condo Hotels has far exceeded its’ supply.
Condo Hotels’ offer owners and renters the amenities they are accustom to along
with all of the features of a 5 star hotel. Nearly every single Condo Hotel property
that has come to the market to date has sold out in the pre-construction phase.
If only 2% of boomers demand a Condo Hotel, than 1.5 million condo hotel units
will be demanded over the next 15 years. Plain and simple, demand will be
greater than supply, and when this type of unbalance occurs, property values will
appreciate sharply and the owners of Condo Hotels will benefit greatly.
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111 Westport Plaza Dr., Suite 1025, St. Louis, MO 63146 (866) 469-6060 |
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