Expert Q&A: What’s Happening in the Luxury High-Rise Market?
June 6th, 2014 | by The Update
As seen in the Dallas Business Journal:
A: Outdoor spaces are one of the most important features right now. Buyers are looking for large balconies that extend indoor spaces for entertaining and enjoying the views. They also want interiors that are airy and open, and walls of glass and other transparent materials that invite natural light to fill the space. Five-star amenities such as a concierge and special meeting rooms – similar to what you find at a five-star hotel – are at the top of the list, too. c 214.912.1756 | firstname.lastname@example.org | pamelabrannon.com
A: We are starting to see the trend toward luxury condo projects spread to suburban environments in our market. Frisco and McKinney both have developments finished or under way, and Southlake and Arlington have discussed it. A luxury high-rise project was announced in Plano in early May – the first of its kind. As long as the amenities match what the luxury buyer wants – concierge service, proximity to shopping and restaurants – investors are going to find this a growth market. c 972.523.9740 | email@example.com | jameskeoughan.com
A: Any time you can get green space and serenity into a luxury high-rise, whether it’s a terrace or a view of a park, that’s going to attract the buyer. I attended a preview for a 22-story building planned in Turtle Creek; the homes will have huge terraces that are engineered to grow grass and small trees. It’s like having a private yard – in a high-rise. Buyers also want more bedrooms, and developers are starting to combine units to suit.
c 214.457-0417 | firstname.lastname@example.org | gioiagoyer.com
A: There are some exciting new high-end, high-rise projects on the drawing board right now that will be opening in the next two to three years – indicating the growing demand for luxury condos. These projects are being done by very solid, reputable developers who know the time is right for growth in this particular market. We’re seeing designs that include private elevators, which are becoming a must-have, and more creativity in providing outdoor space for residents. c 214.957.3547 | email@example.com
For more luxury homes, see briggsfreeman.com. Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.