Luxury developments the likes of which were once only seen in places like London, New York and Paris can now also be seen in Washington D.C. This is because the luxury real estate developments in Washington DC are experiencing a boom. Amenities available in luxury developments of D.C incorporate services like butler, valet parking, concierge and doorman.
Developers of real estate are making every effort to manage the transforming landscape incorporating green technologies which are sustainable into the building industry. Walkable communities with mixed-use projects are gaining acceptance. While luxury properties can be acquired all over the D.C. area,
Luxury Real Estate Developments in Washington DC Stats & Trends
According to the latest real estate market data, 2016 started on a strong foot with both sellers and buyers getting close to their demands. At the moment, all D.C. neighbourhoods are in high demand. Even some of the older neighbourhoods are experiencing renewed interest due to new developments such as the Cathedral Commons in Cleveland Park, Logan Circle, Eckington, regeneration of Van Ness and upcoming developments in Friendship Heights.
The month of March 2016 showed a major growth in the purchase of condo units compared to last year with new pending sales registering an 8.9% increase over same period last year. The average price per square foot registered a nominal decrease over same period last year.
Influential People Call DC Home
Warren Buffett, the world’s richest man called the property located at 4211, 49th Street NW in D.C. his home when he was a teenager. At the time his father was a member of the U.S House of Representatives. The property went on sale at the end of March 2016 for an asking price of $1.5 million after the current owners completed renovations.
President Obama’s announcement that he will be staying in the D.C are after retiring from the Presidency so younger daughter, Natasha Obama, can complete her schooling. Such grand news has a made a big splash in the luxury real estate developments in Washington DC.
A large number of famous people have lived in the D.C area over the years. Here is a sample of some of the big names:
- Elizabeth Taylor: the Academy Award winning actress who was also well known for her numerous marriages, lived in Georgetown, with her Senator husband John Warner.
- Bill Clinton: The 42nd President of the United States and his Secretary of State wife Hillary, now presumptive democratic nominee, lived in a single-family unit close to the Naval Observatory in D.C.
- Karl Rove: A political consultant who managed election campaigns of President George W. Bush and many other politicians
- Walt Whitman: One of the top writers in American History, worked in the Department of the Interior and hospitals in the area caring for soldiers wounded in the American Civil War.