Are condo hotels purely an American phenomenon or are there condo hotels in other countries as well?
Condo hotels are not solely an American phenomenon. The condo hotel, also known as condotel, apart-hotel, and even hotel condominium, has been around for years in Latin America, and is now found throughout the Caribbean Islands, Canada and in parts of Europe. We have even begun marketing condo hotels in Dubai in the Middle East at our website, CondoHotelsDubai.com
, and have had tremendous success. We are also seeing a lot of condo hotels popping up in Central America, specifically in Mexico, Panama and Costa Rica. Be sure to check out our website featuring properties in these countries, www.CentralAmericaSecondHomes.com
. Europe has been relatively slow to adopt the condo hotel concept, but we are confident they will in the coming years. We've seen an increase in the developer inquiries we're receiving from Europe and from all over the world. Just this past month, for example, we have had developers contact us about their properties Manila, the Philippines, the Bahamas, Poland, India, Costa Rica, Belize, the Canary Islands, Scotland, and Ireland, just to name a few. The "American phenomenon" of condo hotels is no longer American exclusively.
The above question was submitted via e-mail by a visitor to www.CondoHotelCenter.com. The answers were prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units and fractional ownerships in private residence clubs.