The demand for luxury condominiums is booming in the Washington, DC, area, the Washington Post reports.
The sales of condominiums priced at more than $1 million is up 65 percent in the nation’s capital, according to Laurie Moore-Moore of the Institute for Luxury Marketing. Additionally, new listings are up 17.5 percent over last year, according to a report by the RealEstate Business Intelligence and George Mason University’s Center for Regional Analysis.
In the DC market, the convenience of the location and the amenity packages are the difference-makers. Tom Anderson, the president of Washington Fine Properties, told the Washington Post, that new owners are buying into a lifestyle and that they want to be where the action is.
….Luxury buyers and renters are putting a premium on convenience, seeking out low-maintenance spaces with amenities that make their lives easier (such as valet parking and 24-hour concierge service) or more fun (outdoor fire pits, yoga rooms), and locations that offer access to shops, restaurants, transportation and other draws of city living.