Condo living is attracting more and more people due to a variety of factors.
One of the most important factors influencing whether someone would find condo living attractive is firstly cost.
For many people the recent global financial crisis and subsequent drop in housing prices has meant that a long term investment in a property has become less attractive. In actual fact for many people the financial resources required to invest in a condo simply are not available any more. This situation has been made even worse by the fact that financial institutions have tightened up lending practices significantly.
However there are still those who want to invest in a condo – especially in those areas that are popular with holidaymakers. These areas continue to show robust growth in the condo market, with some of the most beautiful condos in the world springing up in towns and cities that are holiday hot spots.
One of the reasons that investing in a condo in a holiday town is a great idea is the fact that the most beautiful condos usually boast almost 100% occupancy due to the vibrant nature of the holiday market.
As an added incentive investment the short term nature of the occupancy also allows the investor / owner to set aside some time for themselves so that they and their family can use the condo as holiday accommodation. In effect holiday accommodation becomes free. The income derived from the rental should usually pay for the time that it is used by the owners.
This fact combined with exceptional returns on investment has made the purchase of a condo in a holiday hot spot tremendously attractive for a growing number of investors who want to maximize their holiday time and reduce expenditure.