Fountain Beach Resort seems to be enjoying the stability, and this is not all condo-hotels have at this point. They are stabilized, steady, and owner are, pretty much, happy.
And for condo-hotels this is big.
There are 10 units for sale in FBR, which is about 7% of all units in the resort, and this is considered a “healthy” ratio. Prices start from $53,500 which a bit is higher than even in more affluent Plaza Resort & Spa.
Funny how things happen in life. Who in their sound mind would be comparing Fountain Beach Resort to Plaza a decade ago? They were not comparable. They were not even in the same league…
Now they are much closer, and I am not surprised that some people may even prefer FBR to Plaza at this juncture. Not surprised as FBR owners operate in the black. Not only they are covering the expenses, they are making a little bit of money on rentals.
Not the case in Plaza, where high maintenance and weak occupancy force owners to subsidize their units.
If you compare what units in FBR were selling for in 2015 and what the asking prices there now, the trend is obvious. Hopefully it would not lose the steam like it happened in 2013, but we will soon know. Another couple of months would make it very clear.
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