Luxury Condos Are Being Built
It’s no secret that Atlanta is quickly becoming one of the most successful cities in America. It’s climbing the socio-political ladder in leaps and bounds, and one of the reasons this is happening as prolifically as it is has to do with a sea-change in the entertainment industry.Hollywood is still Hollywood, but it’s beginning to collapse under its own weight. The writing is on the wall, as the expression goes. Between independent musical artists, independent film groups, internet stars, YouTube, and changing political winds, the core of Hollywood is slowly being compromised. It’s gradually eroding away and changing concentrations.
Atlanta, Georgia is beginning to recapture that mantle. It’s quickly becoming a top-tier bastion of the entertainment industry. There’s quite a lot of money in said industry, and quite a lot of travel besides. What this ultimately means is that quite a lot of transitory affluent travelers are coming through Atlanta. Some put down roots, some don’t.
What’s important here is that enough money has poured into the community that property developers have decided building new luxury condominiums is actually a safe bet from a financial perspective. That means they don’t just expect to sell their new creations. They expect those properties to become more valuable in time.
A Staggering Change In Condominium Value
Indeed, condominium values have recently seen a marked increase in Atlanta. It’s actually a sharp upward spike that has exceeded natural property increase in family homes. This is very likely due to the transitioning seat of power of the entertainment industry.Should this be the reason behind the spike in values, it would indicate a long upward cycle of growth. Obviously such a sea-change isn’t the kind to happen overnight, except in miraculous instances. But given the switch in political powers at the highest portions of our nation’s capital, it isn’t beyond the realm of possibility that such huge change could come.
Many of the condos being built have an architectural angle that doesn’t shy away from the luxurious—that says a lot about the kind of clients builders of these condominiums hope to attract.According to http://ownatlantic.com/, “The residences and amenities at Atlantic are serviced by a handpicked team of experienced professionals with a refined understanding of luxury living.” Now what good is a team of handpicked luxury professionals unless you plan on courting luxury clients? And what good is it to court luxury clients if there are any?
Positive Collateral Economic Shifts
Like any large city, Atlanta has its fair share of non-affluent citizens. But what’s astonishingly apparent here is that there isn’t a “Detroit” situation going on. Atlanta is burgeoning despite economic downturn in the rest of the country. With the Trump effect in play (the same which has generated some $2.2 trillion in paper gains on Wall Street), further growth is expected.
It’s important to note that Atlanta’s expansion was on an upward trend prior Trump’s election.With $2.2 trillion since November of 2016, it can only be expected that metropolitan areas like Atlanta stand to see cumulative increase in conjunction with other large cities likewise expanding.
Atlanta is currently receiving a double portion. They’ve got an existing uptick that is being bolstered by larger economic trends. This definitely gives some exposition behind developers’ choices pertaining to new luxury condos in the city.
For those looking to make an investment in a property that will likely appreciate in value through the coming years, Atlanta has quite a few factors recommending it as a wise area in which to invest.