|1918 Olive Street #503 | Museum Tower | Listed for $2,245,000|
But there’s a lot to gain – the view, the convenience, the amenities. We asked our expert agents at Briggs Freeman Sotheby’s International Realty what’s happening with high-rise living in DFW, and here’s what they had to say.
A: Condominiums and townhomes were the fastest-growing real estate segment in 2014, with Dallas, Austin, Houston and San Antonio experiencing an average 10.5 percent jump in sales in the first half of the year, according to the Texas Association of Realtors. That’s all because of the revitalization of our urban core in Dallas, which means we should see continued growth through 2015. Average price of condos is inching up, and new listings are selling faster. It’s a great time to invest.
A: In the Dallas market, the most obvious trend in high-rise living is, simply, “more.” With Dallas ranked the 9th best investment market in the world according to Cushman & Wakefield, we are seeing incredible growth in high-rise development in the Uptown and Downtown areas, including the Dallas Arts District. Klyde Warren Park is the epicenter of this development, and we will see more and more residential high-rise projects as we build true “live-work” neighborhoods in Dallas.
A: I work with a lot of clients looking for luxury high-rise living, and often they are coming from single-family homes. They don’t necessarily want to compromise too much of what they have in those homes, and there are three things that seem to be deal breakers for nearly everyone: a private, outdoor space such as a balcony, very large closets and storage, and a study or flex space to set up a home office.
A: Outdoor space is extremely important to buyers looking at luxury high-rise living. They want a terrace that has space for entertaining; little balconies won’t cut it. We’re starting to see projects designed to bring the outdoors into the home, with expansive balconies that include some greenery or landscaping, a fireplace and ample space for seating and dining. Luxury concierge services are more in demand than ever, especially with the introduction of projects such as Museum Tower and Blue Ciel.
Click here to see the latest in real estate news. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.
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This story was originally published here.