New York Luxury Real Estate Is Booming, According to Concierge Auctions

Concierge Auctions highlights the surge in luxury real estate activity in New York City.

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New York, NY (PRWEB) June 20, 2013

The premier luxury real estate auction house, Concierge Auctions is an organization that provides its clientele with access to exclusive property listings that feature the highest in quality workmanship. As such, the organization keeps a finger on the pulse of the luxury real estate industry and is happy to see a surge in activity within this field—particularly in New York City. According to an [article published by The New York Times, "Ultraluxury housing and construction is [sic] booming across Manhattan, which is now beginning to rival London in popularity with the world's wealthy. The number of condominium buildings in the borough with apartments selling for more than $15 million has risen to 49, up from 33 in 2009, according to CityRealty."

Chad Roffers, the head of client services at Concierge Auctions, explains that the rise in demand for luxury real estate in New York City is due to several factors, one of which is the interest of foreign investors. Yolanda Barnes, who is the director of research for Savills, which is an organization that focuses on international real estate, comments: "There's a great deal of interest in New York, which is seen as relatively cheap compared to other global cities." As such, foreign investors who are looking for a new home, who need a vacation spot, or who work on an international level and want to set up a home base in the United States, are turning to New York City as a wonderful place to invest in luxury real estate at a fraction of the cost when compared to the price tags associated with other global locations, such as London.

Roffers goes on to explain that the increase in interest in luxury real estate on behalf of domestic buyers can, in many instances, be attributed to the more stable economic environment of the United States. The economy is healing and individuals who were once wary of investing largely in real estate, due to the nature of the housing market, are now more confident that their money will be well spent when they opt to purchase a luxury estate—be it a single family home or a high rise condo in the heart of the city.

"This shift is very positive for the luxury real estate market," Roffers asserts. "As a professional in this field, I am certainly very happy to see that buyers are taking a renewed interest in this particular sector of the real estate industry—and that we have the inventory necessary to meet their demands."

The professionals at Concierge Auctions encourage anyone who is interested in investing in luxury real estate to contact their offices in an effort to learn more about the properties that are currently available.

ABOUT:

Concierge Auctions is a luxury real estate auction house that provides clients with access to high quality, exceptional properties. Through the guidance and insight offered by its trained and experienced professionals, the organization facilitates transactions centered upon multi-million dollar estates. A leader in the luxury auction industry, this company is viewed as the premier auction house in the field and strives to continually uphold the values of discretion, knowledge, and impeccable service that its clients expect. For additional information, please visit http://www.conciergeauctions.com/ or call 888-966-4759.


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  • Gregory Yestfan
    PR Management, Inc.
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