New York and Miami set a high bar for luxury real estate, but there is a robust DC luxury real estate market. In fact, there are more than 200 properties listed at $1,000,000 or more in DC. Here are 3 things to know about condos in the DC luxury real estate Market!
1. DC Luxury Real Estate Means Luxury Amenities in Condos
The new condos coming to market offer rooftop pools, state-of-the-art “fitness centers” and even doggie spas. If your definition of luxury includes wine lounges, yoga studios, valet service, catering kitchens, and a 24-hour staff, then you will want to look at the Westlight by Eastbanc, or 2501 M Street
2. More and more international buyers are looking at DC.
DC is an international city thanks to embassies from around the world, but international buyers now are making their presence felt in the DC luxury market. For instance, every sale at The Adele, a new high-end building on 16th Street, NW—with a direct sightline to the White House— has been to international or non-DC buyers.
3. Mixed Use is Now A “Vertical Village.”
Many of the recent condo buildings in the DC luxury real estate market like 2030 Atlantic Plumbing, offer a movie theater and restaurants beneath the condos and vegetable gardens and roof top fire pits. Rather than calling these communities mixed use, they are now being called “vertical villages.” In a vertical village, everything you need is just below your home. These amenities are not inexpensive, and buyers are willing to pay more for that convenience.
