Myrtle Beach condo rentals were down 1% in the Summer of 2006. Reports were posted September 2006 by Coastal Carolina University showing that total rentals and state occupancy taxes were down 1%.

Myrtle Beach condo product has grown by 23% since 2003, so these statistics are somewhat misleading. The transition truly began when companies, including D.R. Horton and Centex Homes, moved into the greater Myrtle Beach area and began a condo building boom that really is only now moving into high gear. Once these options became available, tourists who vacation in Myrtle Beach began a migration away from traditional Myrtle Beach Hotels to the newer, larger, and affordable luxury Myrtle Beach Condo properties.

These properties include World Tour Villas, Barefoot Resort Villas, and Coldstream Cove at Huntington Beach. These newer 3 bedroom/2 bath condos rent for similiar rates as Oceanfront Myrtle Beach Hotels. A large condo sleeping a family of 8 can be rented for as little as $99 per night and discounts can often be found.

Look for more families to make the migration to Myrtle Beach Condo Rentals as opposed to Hotel visits and look for Myrtle Beach Hotel properties to begin to be torn down and converted into more Myrtle Beach Condo properties.