Thursday, May 28, 2015 / by Fra Jamir
People of similar socioeconomic backgrounds flock together by buying into neighborhoods that reflect their lifestyle and income. Expectedly, luxury real estate is almost completely owned by wealthy individuals. In United States, the most gorgeous and exclusive properties are often found grouped together in key areas of the country that are considered undeniably spectacular. Typically, the most expensive areas aren’t even neighborhoods for full-time residence; many of these neighborhoods serves as communes of summer homes for families with money to spend.
If you are seeking to invest in luxury real estate, there are truly only a few of places that offer the ideal combination of location, lifestyle, and quality of properties. There is no shortage of list for the best cities in the US, but here is our top 10 Best Cities for Luxury Real Estate in the United States:
Well-known as one of the most luxurious cities for real property, and for good reason. The sheer number of luxury estates – both classic and contemporary is impressive, plus there are many traditional home of celebrities and California’s entertainment industry elite. From the shops of Rodeo Drive to five start restaurants, the local lifestyle in Beverly Hills is ideal for visitors and residents alike.
Regarded as one of the hotspots for the USA’s ultra-wealthy, Manhattan is for those who desire an urban sanctuary, its financial center and perhaps its cultural center as well. Whether they prefer a classic townhome, loft residence, or apartment style condo, few cities can match what The Big Apple has to offer. However finding a reasonably nice unit under $1 million is impossible, and for true luxury you can expect to break the $10 million barrier.
The truly luxurious real estate in Bel Air can be found at the base of the mountain, and they’re certainly something to feast your eyes on. Most of the properties in Bel Air are large ranches or mansions, although the real estate get a little smaller as you go up the mountain since land becomes sparser. By heavily regulating what kinds of residences could be built, it guaranteed that the arrival of residents into its city limits would always be high-net-worth individuals. Bel Air has everything that an investor who desires the utmost privacy could ask for. Secluded and exclusive.
San Francisco is constantly rated as one of the most desirable and expensive residences to live in. Real estate here is simply iconic and extraordinary. Noticeably larger and older than Beverly Hills and Bel Air, San Francisco is also home to a much more socioeconomically diverse populace. The Pacific Heights neighborhood of the city even has a ‘Billionaire’s Row’ that is home to multi-million dollar properties that are architectural marvels in every sense of the word.
Palm Beach is a sun-kissed tropical paradise and has a reputation for being a place where wealthy Americans go to retire. All those rich retirees flew down south with their loaded bank accounts, giving Palm Beach one of the top concentrations of wealth in the country. First settled at the turn of the century as a resort haven for the rich and well-known, this metropolitan offers many exclusive luxury residences.
The Hamptons are an essential destination for members of New York City’s high society. East Hampton is one of the two Hamptons, the other being Southampton. With access to a high-class community lifestyle, stunning beaches, and a bevy of social gatherings, this has for generations been the place to own a summer retreat, and because of that repute it has a solid stream of well-off investors putting money into its real property year after year.
Many consider Martha’s Vineyard to be an elite version of the Hamptons. It is a popular summer destination for the wealthy members of the USA’s northeast. This seasonal island colony to the south of Cape Cod attracts some of the wealthiest vacationists who are looking for a bit more privacy – the island is only accessible by plane or by boat. Many enjoy pointing out that cost of living here is 60% higher and real estate prices are 96% higher than the national average.
About 8.5 percent of all Stamford residents are millionaires, and several others are just below that line. Stamford has one of the highest concentrations of wealth in the country, which has led to its reputation as a shelter for wealthy ‘blue blood’ families. Given the close distance from New York many affluent residents of Stamford commute to work and play, then return home to their estates to live.
This waterfront municipal is a booming center for business and culture, and offers a nightlife that would make any experienced party person blush with pleasure. East Coasters who seek out a world-class city atmosphere along with a tropical climate won’t do much better than Miami. Its increasingly worldwide standing has led to a huge entry of wealthy foreigners from South America and other countries, which has driven up real estate prices around the city.
Often singled out as one of the most popular beachfront destinations, Malibu with its charming community atmosphere and stunning coastal backdrops ranks among the best places to invest. Malibu is home to Carbon Beach, a mile and a half stretch of land along the beach with 70 lots. Property prices in Carbon Beach are roughly $200,000 per square foot of beachfront property, making it unattainable for even most multi-millionaires. Home of billionaires and top executives, it simply does not get more luxurious than Malibu.