Demand for Larger Boston Luxury CondosJune 27, 2015
In the past, many new Boston luxury real estate construction projects were filled with smaller units, making them more marketable and easier to sell. Not anymore.
I’m seeing more young families stay in the city, and empty nesters who are not downsizing, but need one level with amenities. People are searching for larger Boston luxury condos, because they entertain a lot and are looking for grand spaces to host social gatherings. Boston luxury real estate developers are doing their homework and realize that there’s more demand for larger units now.
Therefore, in most higher end luxury buildings, Boston luxury real estate agents are seeing more and more 3+ bedrooms than there were five years ago. Needless to say that it all depends on the location. The ratio of larger residential units are obviously more desirable in more established residential and family oriented neighborhoods. Whereas the developer of the buildings in newer, more innovative artsy and edgier neighborhoods gravitate towards smaller units, such as 1 to 2.5 bedrooms.
So, new projects, regardless of location, have something for everybody. It really just depends on where you want opt to live — close to work, close to access roads and highways, within walking distance to work or shops, spectacular views, amenities? Sometimes, buyers prefer one neighborhood, because they are more familiar with that particular area. But these days, I have come to realize that buyers gravitate more towards the layout and interior of the units and create their own environment to make the neighborhood work for them.