I bought an apartment last year in SD, despite realising that a) the maintenance fees were very high and b) it would be hard to sell. Why? Basically because I love the apartment and wasn't buying it to sell, I bought it to enjoy it. The maintenance fees are high (US$ 600 per month) mainly because of insurance. The tower is fully insured against hurricane and earthquakes and insurance companies are jacking up the premiums because climate change is increasing the risks. Our insurance went up by 15% this year. But for my $600 a month I get 24 hour front desk, amazing security, everything cleaned and repainted and the peace of mind that if we are hit by a hurricane or an earthquake, I won't lose everything. So it's expensive, but worth it.
In London it's normal to pay $1,000 a month maintenance fees for a lot less.
No doubt climate change is driving the rates thru the roof. I hear
the climate is changing so fast in London now a days, it a make
ya head spin. :cheeky: