Condo Markets Continue to Heat Up
So why is the condo marketing heated? Right now there is a major play because of demographic trends. Empty nesters are coming of age and they are looking for that active, maintenance lifestyle. These down-sizers are selling their big homes and moving back or closer to the city where they can buy a beautiful brand new high-rise condominium and have all the services and amenities at their fingertips. This mass movement is what is driving the condo market right now. In addition to this trend, mortgage rates which are still extraordinarily low have allowed first time buyers to buy at younger ages.
Every market also has its own niche. Popular condo markets like Boston, San Diego, Los Angeles and Miami all have ancillary reasons for their condo boom. In Boston for example, it is extremely difficult to get building permits to build new construction. Most unused commercial buildings have already been converted to luxury condos, which leaves only new construction as an answer. Slow building permits and strict guidelines is what boosts Boston prices to be among some of the nations highest and when some might be considered scared to own in this market, its actually one of the safest real estate bets out there.
The Condo Boom trend will continue. With these new lifestyle engineered buildings, it is becoming a way of living not to just one demographic but to all. People are working more hours and need more services and the condo lifestyle is the answer.
For more information on the Global marketplace or international investments visit http://GlobalCondoCenter.com
Related Tags: condos, condo, new condos, boston condos, san diego condos, los angeles condos, miami condos, dc
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The online "community" was launched in Boston in October of 2005 featuring 1,000+ properties owned by more than 50 leading, independent real estate agents and developers who aim to be at the forefront of online real estate marketing. A national expansion is underway that will bring condoDomain.com to 35 U.S. markets, from Seattle to South Beach, by the end of 2006.
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