The market for upscale residential properties has never been better in the Central Florida Region. Contributing factors are low interest rates and a weak stock market, combined with a strong demand for housing.
(PRWEB) October 3, 2004 -- The market for upscale residential properties has never been better in the Central Florida Region. Contributing factors are low interest rates and a weak stock market, combined with a strong demand for housing.
According to luxury home specialist Malte Strauss with Southern Realty Enterprises the need for bigger homes is on the rise. Affluent buyers seek homes with more features like movie theatres, game rooms, and splendor backyard settings and exclusive lagoon pools. Former luxury items have become standard commodities in new home construction, and many older residences have been updated to conform to this trend. To be competitive to the new construction market home sellers have to implement design changes and invest in renovation of their property. The ones that do typically cash in on their investment with shorter market time and higher sales prices.
Another trend comes from the empty nester" and their lifestyle changes. Retirement homes do not have to be small these days – many of the Orlando mansions have no more than 2 residents. Instead of downsizing many Floridians in their golden years opt for a more luxurious lifestyle. Golf course communities like Keenes Pointe in Windermere, Lake Nona in Orlando, or Celebration in Kissimmee cater to this clientele.
A renewed urbanization of the Orlando downtown area creates a demand for housing that inspires the development of luxury condominium projects that are under way. Pre construction sales are going fast at prices between $ 300 and 1 mil for the latest condo projects. With more people moving to Orlando than leaving town, the trend of rising real estate prices might continue for a while. Not even the latest streak of hurricanes seemed to have interfered much with the Orlando real estate market.
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