As the condominium market heats up throughout North America and the rest of the world, condominium developers are honing new life trends that are adapted to specific demographic indicators. From the first time home buyers buy buyers, and empty gnomes get a choice on this day. From Lock and Leave Lifestyles and second homes that do not need condo hotels, it has never been easier to purchase a new condo.
So why does a condo get hot? Right now there is a big game due to demographic trends. Empty nests come of age, and they are looking for this active, supportive lifestyle. These down-sizers sell their big houses and move back or closer to the city, where they can buy a beautiful new high-rise condominium and have all the services and amenities at their fingertips. This mass movement is what the condominium market is leading now. In addition to this trend, mortgage rates, which are still unusually low, allowed buyers to buy for the first time at a younger age.
Each market also has its own niche. Popular condo markets such as Boston, San Diego, Los Angeles and Miami have consolidated reasons for their condo boom. For example, in Boston it is extremely difficult to obtain a building permit for the construction of a new building. Most of the unused commercial buildings have already been converted into luxury villas, which leave only new construction in response. Slow building permits and strict rules are what raises prices in Boston among the highest nations, and when some may be considered frightened in this market, in fact it is one of the safest properties.
Condo Boom trend will continue. Thanks to these new buildings, built in the style of life, it becomes a way of life not only for one demographic, but also for everyone. People work more hours and need more services, and a condo lifestyle is the answer.
For more information on the global market or international investment, visit http://GlobalCondoCenter.com
