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Condo Hotels Dubai

Condo Hotel Overview

 

Perhaps you've heard all the buzz about condo hotels, and now you're considering this type of real estate investment. Condo hotels offer you the opportunity to own a luxury vacation home at a world-class resort and to receive rent revenue when you're not using it.

Buy a condo hotel in a rapidly-emerging country like Dubai, where annual hotel occupancy rates average close to 90%, and suddenly a vacation home can make good financial sense as well.

Condo hotels are not your typical vacation homes. They are exquisitely-furnished condominium suites in ultra-luxurious hotels and resorts. Most properties are usually of four- or five-star caliber.

In Dubai, the majority of condo hotels are large, high-rises with state-of-the-art amenities like full-service spas, health and fitness centers, fine dining restaurants, resort-style pools and sophisticated business centers. They also offer an expanded array of services such as a concierge, valet and housekeeping.

Condo hotels are currently being developed in and around Dubai's business district and also in Dubailand. They will cater to business travelers as well as tourists from all over the world.

As a condo hotel unit owner, you have the option of putting your condo unit into the hotel's rental program when you're not in residence. This is what makes the condo hotel concept so attractive.

While the developer doesn't guarantee the rental of your unit, by capitalizing on a hotel's name recognition, advertising, national affiliations, centralized reservation system and management expertise, you can expect to receive a higher level of rental income than you would from a traditional vacation home. In addition, the on-site management company will take care of all maintenance of the property and ensure the smooth operation of its many amenities and services.

As part of the rental agreement, the hotel pays for most operating expenses such as housekeeping, administrative and marketing costs. As the condo hotel owner, you would be expected to pay for real estate taxes, insurance and capital improvements.

Occasionally developers in Dubai, in an effort to encourage foreign investment, offer incentives such as giving a buyer a guaranteed annual return of as much as 8%. Or they may offer an attractive rental split that exceeds 50%-50%.

For buyers interested in the investment potential of a condo hotel, the emphasis, however, really shouldn't be on the annual revenue the unit generates but rather on long-term appreciation.

A condo hotel unit in a first-class resort that is located in an emerging nation like Dubai, has potential to significantly increase in value. Those buyers who purchase condos in early pre-construction phases will likely see the greatest appreciation of their investment.

Prices for condo hotels in Dubai range from $200,000 to over $1 million for prime properties. To learn more about individual properties, particularly those in early pre-construction phases, contact Condo Hotels Dubai at info@CondoHotelsDubai.com.

 
 
 
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