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4 Reasons Luxury Real Estate May Take Off In 2017
High-end real estate is on the move in 2017.
New rules and new buyers create a revitalized luxury real estate sector.
Growth and confidence will shape the luxury market in this new year.
Luxury real estate agents should start 2017 with enthusiasm — they have reason to be optimistic about their sector.
This year will bring its share of exciting developments, innovative design, progressive trends and brand new technology to the high-end real estate market.
There is never a standstill in this upscale industry. Here are four reasons why it will flourish.
1. New mortgages
During 2017, it will be easier for buyers to finance their luxury real estate purchases.
Beginning this year, government-owned mortgage companies Fannie Mae and Freddie Mac will provide backing for larger mortgages for the first time in more than 10 years.
2. Foreign buyers
International buyers (mostly Chinese) still want U.S. luxury property, and they are expanding their horizons.
Foreign purchasers continue to seek out luxury real estate in major American centers. Yet they are also showing interest in high-end homes in other metropolitan regions across the nation. For Denver, Singapore, Canada, Switzerland, Chile, China, and Germany were amongst the biggest foreign buyers.
International buyers are going far beyond their own borders to find safe investments. Like any homebuyer, they look for affordable prices and the best return, including long-term growth opportunities.
Foreign purchasers crave the luxurious lifestyle and ultimate security that come with a high-end home in an affluent neighborhood.
This wealthy group is not expected to lose interest in U.S. luxury real estate anytime in the foreseeable future. Both Europe and the U.S. will continue to attract increasing amounts of foreign capital, especially from Asian buyers.
3. Historical growth
During the next 12 months, the ultra-luxury market should see more affordable prices.
Keep in mind that consistent and steady growth is a good thing. Indeed, this circumstance follows frequently behind periods of high asking prices and decreasing absorption numbers.
4. Post-election period
Following all the preoccupation and distractions that emerge during any election period, things return to a more leisurely pace after a campaign and its results.
The post-period becomes a time of restoration for the campaign-weary when one’s thoughts turn closer to home. A final resolution can restore certainty to a sector, and uncertainty can be replaced with new development.
In the nation at this time there is also a robust market, for example, in Miami. Of course, waterfront real estate enjoys consistent popularity, but now non-beachside mansions are equally attracting the eye of the luxury buyer.
Denver CO Homes for Sale – Wan Lim, Associate Broker/ Realtor
Your local realtor serving Cherry Creek, Centennial, Denver and the
surrounding communities. Purchasing a home is not easy, but it can be
with me! I will work tirelessly with investors, buyers and sellers to
save you time and money but most importantly to get you into the
home of your dreams! Call Wan Lim anytime at (303) 910-0818
My name is Wan, I am passionate and driven to help everyone I can in buying and selling real estate. Just a little bit about me, I graduated Colorado State University with a degree in Hospitality Mana....