As Baby Boomers become empty nesters and/or retire, more of them want to return to the big city. So more of them in my area of the world are opting for high-rise luxury condos.
In fact, according to Forsight Analytics, up to 30,000 condos are being built or planned in downtown San Francisco, with about half of that number available in the next five years. Most of them are south of Market Street, along the Embarcadero, with incredible views of the Bay Bridge and East Bay hills, near the Giants’ ballpark in the rejuvenated Mission Bay neighborhood.
Approximately 7,500 new luxe condoes will open in the next two years, namely One Rincon Hill and The Infinity. The median price? About $640,000 this year, but prices rose 10 to 15% in each of the past two years when the market was hotter than it is now.
Some of the more highly touted condos include:
• The Infinity, 300 Spear Street, 365 condos;
• One Rincon Hill, 425 First Street, 382 condos;
• The Beacon, 250 King Street, 567 condos;
• The Palms, 555 4th Street, 300 condos; and
• Arterra, 320 Berry Street, 269 condos.
Read the article at SFGate.com.