Forbes Outlines What Homes $6.5 Million Can Currently Buy
There’s no denying that location plays a huge factor in terms of what you can get in the real estate market nowadays, as a new report made by Forbes highlighted.
The publication took a look at three luxury homes valued at a cool $6.5 million. The properties were located in various high-profile destinations known for their high-end homes, including Las Rotas, a Spanish Coastal town, California’s Hollywood Hills, and finally, Colorado’s ski resort Vail. The report emphasized the impact location has on what’s available in a specific real estate market, and even more, that you can’t always get the same bang for your buck.
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The first property, found in Las Rotas, Denia, Alicante, Spain, is a seafront villa featuring a swimming pool, modern design aspects made from high-end materials, and various smart-home features. Designed by famous architect Manuel Portaceli, it’s a four bedroom, five bathroom home that includes a view of Mount Montgo.
The home found in Hollywood Hills – a neighborhood populated by the likes of various famous folks including Leonardo DiCaprio, Robert Pattinson, Keanu Reeves, and Salma Hayek – was previously owned by Tommy Shaw of Styx. It includes a variety of notable features, such as an outdoor kitchen and pool, a recording studio, and even a gym and spa. It has five bedrooms and six bathrooms. The property was also recently renovated.
Finally, for those looking to settle in Vail, you’ll find a property with an impressive plot of land. Build It Concrete explains the property in question comes with a 1.2-acre plot. It has four bedrooms and five bathrooms, while a private patio and heated stone pathway are some of the notable outdoor features. The home was designed by architect Ned Gwathmey.
Almost two months in 2021, things are looking up for the real estate market. Norada Real Estate Investments explains that the housing market headed into a steep decline last year amid global lockdowns. However, a year into the pandemic and with the coronavirus vaccine being widely distributed, particularly in the U.S., the market seems to be picking back up. The publication explains that with low-interest rates and various incentives in place to encourage buyers, more people are looking to invest in homes, at least in comparison to last year.
In fact, earlier this week, The Richest reported that Manhattan’s luxury home market reached its highest recorded sales in a single week in the last five years. The borough saw thirty-eight contracts signed for the luxury homes, resulting in $351 million in sales. Not only was it the highest numbers of contracts settled in a single week since 2016, but it was the highest number of cumulative sales made in a week since December 2017. If one thing is for sure, the real estate market is off to a strong start in 2021, especially when compared to last year’s decline.
Sources: Forbes, Build It Concrete, Norada Real Estate,
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