Palm Beach real estate has always been in demand, and even during Florida’s real estate slump of 2009, it was the last market to feel the pinch and is now the first to jump back in, with strong numbers for both single-family and condominiums for sale. Based on figures reported in the Palm Beach Post, in 2010 single-family home purchases were up 40 percent and condominium sales grew 35 percent. Based on real estate trends, the market is expected to continue to climb throughout this year and into 2012. Homes and condominiums for sale in Palm Beach continue to outpace the national average, and that’s a trend that’s on the upswing. palm beach
Buyers recognize all that the area has to offer, including enviable weather, a resort-quality lifestyle, gorgeous beaches and some of the country’s most challenging championship golf courses. The waterfront boasts miles of sugar sand beaches and access to outstanding boating and fishing.
The renewed interest in condominiums for sale is fueled by the realization that prices will not fall any further, and that mortgage rates are still relatively low.
According to the National Association of Realtors, mortgage interest rates are anticipated to rise to 5.5 percent by the end of the year and average 6.0 percent in 2012-historically still affordable.
With million dollar mansions and ultra luxury condominiums for sale along the Palm Beach waterfront, affluent buyers have exceptional choices in this real estate market. Enhancing the desirability is that Palm Beach has a finite number of properties and limited land available for new development. Especially popular are oceanfront condominiums for sale that offer luxury amenities, including expansive resort lagoon pools and whirlpool spas, private poolside restaurants and direct access to beachfront.
For many buyers, especially those from outside of Florida, the ease of getting to and from the Palm Beaches adds to the appeal. With multiple flights daily from the New York area to Palm Beach International Airport, it’s actually faster to get to a home than it is to get to a retreat in the Hamptons. Palm Beach offers an incredible selection of cultural choices, from performing arts to live theater to art museums and galleries exhibiting both masterworks and contemporary pieces. Dining choices are virtually unlimited as well, with world-class chefs serving up cuisine from around the world. The golf is, of course, exceptional, since the are is known as Florida’s Golf Capital, with more than 170 public and private golf courses- from executive to championship level-designed by the best names in the industry, and with something for golfers of every skill level. There’s also more than 40 public golf courses in an around the area. The PGA National Resort & Spa has five courses, plus top-flight instructors to help you fine-tune your swing, work on your putt or add yards to your drive.
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