Hamptons Real Estate
Hamptons Real Estate
For the largest part of a century, Hamptons real estate has been a popular market for the rich and famous from near and far. The wonderful sandy beaches and country roads serve as a haven for rich and richer who are willing to pay large parts of their fortunes for homes in the prestigious Hamptons.
With the onslaught of the housing turmoil, and the booming foreclosures in practically every section of the country, you might think that the real estate market in the Hamptons would have suffered. That simply is not the case. More and more blue bloods are willing to lay down their large chunks of change for homes of phenomenal size and value, just for a chance to call this area home. Even with the problems in the real estate world this past year, the Hamptons, as well as a large part of Manhattan, did not falter in the market. It stands to reason that if the economy in Manhattan and New York City are doing well, then the high end market will do just as well.
The high end market would definitely include the Hamptons real estate sector.
Even the rental market is thriving, as prices have jumped significantly on rental homes. Many of the elite choose to rent their summer home, and some of these homes rent for upwards of $200,000 for a 4,500 square foot home. There are some of the more extravagant homes that will bring in $750,000, but these are the exceptional homes, and are few. Of course, when rental prices climb that high, it makes much more sense to buy a home than to rent, and there are many people who are opting to buy their home in the Hamptons. Even with the general real estate problems, the Hamptons have been as crowded as ever.
What better way to spend your fortune than to invest in Hamptons real estate? After all, you must spend all that money somewhere, and there just really are not a lot of places to lay down over a million dollars at once. Retiring baby boomers are becoming a very popular group of homeowners as well. What better place to retire than in an upscale and quiet area of the country?
Harald Grant
Hamptons Real Estate
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