Boston Rents Down for Luxury, Up for Everything Else

Rents in Greater Boston have fallen slightly over the last year — but only in the top tier of the market. For everyone else, they’ve ticked up. The changes in this region’s rental prices are quite small, but follow a trend in large metropolitan regions across the nation. In Boston, like most other major cities, rents have fallen for the highest earners since last August. Naturally, throughout the last seven years, rents in Greater Boston have increased for everyone, but substantially less so in the luxury market. The median rent in the most expensive third of the local market increased 20 percent from June 2011 to June 2018. For the bottom third, it’s risen 27 percent. For the middle third, it’s increased 32 percent.

Screen Shot 2018-08-27 at 1.25.25 PM.pngThe divergences at different rental points indicate steady growth in all sectors, signifying a ripe opportunity for investment in all markets–– especially luxury homes. The numbers are remarkably positive, and all signs indicate a market that is seldom situated in such a financially convenient position for buyers, sellers, and renters alike. Below are several links to fantastic luxury properties now available for rent/sale in Boston proper as well as the Greater Boston area. 

https://castlesunlimited.com/listing/72334652/132-yarmouth-road-brookline-ma-02467/

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https://app.castlesmag.com/CastlesMag/listings/40BurroughsWharfPh6-Boston.html

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https://app.castlesmag.com/CastlesMag/listings/50LibertyDrive-Boston.html

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https://app.castlesmag.com/CastlesMag/listings/117BeaconStreet-Boston.html

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https://app.castlesmag.com/CastlesMag/listings/46RoslynRd-Newton.html

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23 New Million Dollar Housing Markets Predicted by 2020

Almost two dozen cities across the US are expected to hit the million-dollar mark. Buyers looking for a luxury home might be in luck. According to new research, the country will gain 23 million-dollar housing markets (markets where the median home value is more than $1 million) by the end of 2019.

If projections hold up, that brings the total to an astonishing 220 million-dollar cities across the nation. Of the 23 new cities, 14 are in California, with more than half in the Bay Area region alone. New York will gain three new million-dollar markets, while Washington and Massachusetts will both gain two. Florida and North Carolina are expected to gain one each, respectively. Overall, the number of million-dollar housing markets has doubled since 2013. Economists expect that number to continue growing, too. 

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“These markets tend to be affluent and exclusive suburbs in communities adjacent to finance and tech hubs,” writes Svenja Gudell, economist. “Although home value growth is expected to slow over the next year, particularly at the high end of the market, the number of cities where more than half of homes are valued in the seven digits is expected to jump to a new all-time high over the next 12 months.” According to the numbers, the market is at a convenient intersection for both buyers and sellers. Luxury housing in secure, affluent neighborhoods is attainable and increasing in availability. Home value will continue to steadily increase across the luxury market at a healthy rate, providing home buyers with affordable prices and reasonable rates–– simultaneously allowing homeowners to grow their wealth and remain secure in their assets.

MA:

  1. https://app.castlesmag.com/CastlesMag/listings/117BeaconStreet-Boston.html
  2. https://app.castlesmag.com/CastlesMag/listings/45CoolidgePoint-Manchester.html
  3. https://app.castlesmag.com/CastlesMag/listings/39SearsRd-Brookline.html
  4. https://app.castlesmag.com/CastlesMag/listings/47GoddardSt-Newton.html
  5. https://app.castlesmag.com/CastlesMag/listings/46RoslynRd-Newton.html
  6. https://app.castlesmag.com/CastlesMag/listings/468HIGHLANDSTREET-Hamilton.html

FL:

  1. https://app.castlesmag.com/CastlesMag/listings/2500GordonDrive-Naples.html
  2. https://app.castlesmag.com/CastlesMag/listings/23StarIsland-Miami.html
  3. https://app.castlesmag.com/CastlesMag/listings/3080MunroeDr-Miami.html
  4. https://app.castlesmag.com/CastlesMag/listings/515CasuarinaConcourse-Miami.html
  5. https://app.castlesmag.com/CastlesMag/listings/605OceanBlvd-GoldenBeach.html
  6. https://app.castlesmag.com/CastlesMag/listings/3100GordonDrive-Naples.html
  7. https://app.castlesmag.com/CastlesMag/listings/NorthPalmBeach-NorthPalmBeach.html
  8. https://app.castlesmag.com/CastlesMag/listings/1160SOCEANBLVD-MANALAPAN.html

NY:

  1. https://app.castlesmag.com/CastlesMag/listings/121FurtherLn-EastHampton.html
  2. https://app.castlesmag.com/CastlesMag/listings/146VailLane-NorthSalem.html
  3. https://app.castlesmag.com/CastlesMag/listings/58CatRidgeRd-NorthSalem.html
  4. https://app.castlesmag.com/CastlesMag/listings/16EvergreenWay-OldBrookville.html
  5. https://app.castlesmag.com/CastlesMag/listings/2NorthwestWay-Bronxville.html
  6. https://app.castlesmag.com/CastlesMag/listings/54MorrisLane-Scarsdale.html
  7. https://app.castlesmag.com/CastlesMag/listings/195MillsRd-NorthSalem.html
  8. https://app.castlesmag.com/CastlesMag/listings/234TuckahoeLn-Southampton.html

CA:

  1. https://app.castlesmag.com/CastlesMag/listings/1116LindaFloraDrive-LosAngeles.html
  2. https://app.castlesmag.com/CastlesMag/listings/2727BenedictCanyonDrive-BeverlyHills.html
  3. https://app.castlesmag.com/CastlesMag/listings/4694NorthLakeBoulevard-CarnelianBay.html
  4. https://app.castlesmag.com/CastlesMag/listings/5020WestLakeBoulevard-Homewood.html
  5. https://app.castlesmag.com/CastlesMag/listings/5225FigueroaMountainRoad-LosOlivos.html
  6. https://app.castlesmag.com/CastlesMag/listings/630NimesRoad-LosAngeles.html
  7. https://app.castlesmag.com/CastlesMag/listings/72BeverlyPark-BeverlyHills.html
  8. https://app.castlesmag.com/CastlesMag/listings/818HotSpringsRoad-Montencito.html

NC:

  1. https://app.castlesmag.com/CastlesMag/listings/1382LangdonRoad-SherrillsFord.html
  2. https://app.castlesmag.com/CastlesMag/listings/1400AlpineCreek-Raleigh.html
  3. https://app.castlesmag.com/CastlesMag/listings/12324BirchfallsDrive-Raleigh.html
  4. https://app.castlesmag.com/CastlesMag/listings/250BlueVioletWay-Durham.html
  5. https://app.castlesmag.com/CastlesMag/listings/6036OverHaddenCourt-Raleigh.html

Luxury Market on Record Streak

    The luxury market is on a record streak, boasting double-digit growth in 19 of the largest markets in the nation for the first time in over four years. According to the July Luxury Home Index by realtor.com®, High-end homes are moving at an increasingly accelerated rate, with age of inventory at 108 days—11 days faster than in July 2017. The strong economy and affordable interest rates are bolstering demand for luxury homes. While the number of buyers targeting $1 million-plus properties continues to rise, the market shows few signs of diminishing availability.
     According to the Index, which analyzes 91 counties in the luxury segment, examining prices in the top 5 percent of all sales, specifically, the fastest-growing luxury markets are:
Price (Top 5%): $1.004 million
+21.2% YoY
Price (Top 5%): $1.27 million
+15.8% YoY
Price (Top 5%): $2.41 million
+14.7% YoY
Price (Top 5%): $2.8 million
+14% YoY
Price (Top 5%): $1.34 million
+13.7% YoY

Private Island in Bora Bora

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This property sits on a 9.3 acre lot stretching from the lagoon to the reef in Bora Bora. The property has a spectacular view of the sunset and the island’s famous peak, Otemanu. A massive solar electricity and water system is already in place. Included in the property are 16 bungalows, a 400 foot dock on the lagoon side with a covered lanai at the end, a managers home, car, boats, tractor, telephone line, wifi, laundry, workshop, storage room, and office.

This property is featured in the latest issue of Castles Magazine

Jewel of Crystal Bay

This incredible mansion on the edge of Lake Tahoe’s Crystal Bay is on sale for the first time ever. Built with an eye for creative design, innovation, and modern yet classic comforts, Crystal Pointe is a lakefront masterpiece on 5.14 secluded acres.

The home, nestled into the rocky mountain side, takes advantage of its 525 feet of lakefront with four buoys and a seasonal boat barge. The estate includes a main house, guest house, caretaker’s apartment, and beach house, as well as a 4 car garage, for a total of 8 bedrooms, 10 full and 2 half bathrooms.

The estate is comprised of 16,232 square feet of magnificent living space, and also includes 13 fireplaces, a 10 seat theater, a 1,687 bottle wine cellar, private gated drive, entry pavilion, two glass funiculars, magical gardens, ponds and waterfalls, and gorgeous green lawns.

Click here to see the listing on CastlesMag.com

River Oak Farm

This breathtaking equestrian estate is set on 46 acres of pristine land along the Ramapo River in Mahwah, New Jersey. The property is surrounded by an additional 9,000 preserved acres of land. This country retreat is conveniently located within close proximity to Manhattan, offering convenience along with quiet seclusion.

THE MAIN LIVING AREAS

The enormous main house is filled with seven bedrooms, seven full and three half bathrooms, a two-story foyer with staircase, two-story great room, formal dining room, gourmet kitchen, breakfast room, family room, and wet bar. The master suite includes a massive stone fireplace and private spa. A private staff quarters and carriage house offer an additional three bedrooms, two full and one half bathroom.

EQUESTRIAN FACILITIES

A 20-stall barn with state-of-the-art facilities, a 14,000-square-foot indoor riding arena, five paddocks, and private riding trails are included on the estate grounds, making it an equestrian-lover’s paradise.

RECREATION

The grounds include a soccer field, basketball court, infinity pool with a three-tiered stone terrace, and an outdoor kitchen. There are also sports lounges located throughout the estate, as well as an indoor pool with spa, wine cellar, home theater, English-style pub, massage room, gym, padded recreation area, and emergency generator.

Paradise Valley Estate

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Sitting high and elegantly in the coveted Paradise Valley, this custom estate is the epitome of luxury living.

The interior spaces are fitted with white marble floors from Thassos and counters of limestone, marble and onyx, hand-carved groin vaulted ceilings, custom cabinetry throughout, a mahogany  library/office and lavish spa-like master suite. The home includes a theater room, separate guest house, six fireplaces and courtyards. 

Also included are a tiled pool and spa, 22 foot BBQ bar, fireplace and fire pit.

This listing is featured in the latest issue of Castles Magazine

Mississauga Mansion

This gorgeous mansion in the beautiful Mississauga woodlands features an extensive new driveway and patios, a 3 car garage with a gated entrance, a multi walk-out basement level, large formal principal rooms, and a beautiful hardwood staircase surrounded by floor to ceiling windows. The luxurious master suite features a large walk in closet, sitting area, private balcony and beautiful bathroom. The open concept basement includes side service stairs and a beautiful custom kitchen. The walk outs provide easy access to the newly landscaped yard & pool area.

Click here to see the listing on CastlesMag.com

New Malibu Rental

This gorgeous Las Tunas beachfront home was built in 2005 using the finest in craftsmanship and material, such as marbles, onyx, granites, custom tile designs and beautiful woods. The home has four bedrooms and four baths, including a spacious master suite overlooking the water with two large closets and a luxurious bath. The second floor rear bedroom has its own private entrance. The living area has high ceilings and glass walls overlooking the ocean and sliding glass doors opening onto the beachfront deck.

The home has a private gated entrance, and is conveniently located near Malibu city.

Click here to see the rental listing on CastlesMag.com

Stunning New Jersey Luxury Home

This luxurious home is located in a wonderful, quiet neighborhood surrounded by other amazing properties, and in close proximity to the ocean with spectacular water views.

The 5 porches and balconies of this home were custom designed to take full advantage of the property’s spectacular location and offer breathtaking water views of the ocean and lake. The craftsmanship which went into the building of this home is extraordinary — hand milled wood trim and moldings,  steel framing, red cedar siding and roofing, rift sawn white oak floors are only a few of the stunning details.  Large windows allow for floods of natural light. This stunning 6 bed home also includes a rotunda with lake views, a dramatic curved staircase, 2 master suites,  and 2 laundry rooms, among other features.

Click here to see the listing on CastlesMag.com