Luxury Portfolio Vol. 07 Issue 02 - George Scarpias

WEB ID: FJND88 Take in the river views of this downtown Portland condo

WEB ID: BGQV88 Walking distance to the heart of San Miguel

PORTLAND, OREGON

SAN MIGUEL, MEXICO

Highest recorded sale in last 12 months: US $2.8 million

Highest recorded sale in last 12 months: US $2.9 million

Compared to last year, prices in your market are: About the same

Compared to last year, prices in your market are: Up

What is the price point for the Top 10% of inventory across your market? US $1.4 million (median)

What is the price point for the Top 10% of inventory across your market? US $350,000 to $500,000

Most international buyers are coming from: Canada and China

Most international buyers are coming from: USA

What are luxury buyers looking for in your market? Luxury buyers are looking for period homes that have been completely rehabbed with luxurious master bed/bath suites. In the downtown condo market, building amenities like concierge service, in-building gyms, and wine storage lockers are becoming increasingly important as well. Luxury buyers tend to be more accommodating of the changing views of the downtown core, but they are often willing to pay for a protected or secure view. They also consider proximity to trendy streets with restaurants and shops when selecting a property. Privacy and discretion are also very important to the luxury buyers; many are not looking to rent out their homes, even if they do not intend to reside there full time. Top arts and/or cultural destinations? Portland, especially The Pearl District, is a mecca for arts and culture enthusiasts who visit the museums, galleries, theaters and performing arts centers throughout the area. Cultural spaces within the city, like the Lan Su Chinese Garden, as well as the Portland Japanese Garden in the West Hills, are also a draw. Many communities throughout the metro area host their own festivals and events celebrating art, music and more.

What are luxury buyers looking for in your market? Luxury buyers in San Miguel are looking for prime locations, such as central views to La Parroquia, the parish church of San Miguel. Top arts and/or cultural destinations? Top cultural destinations in San Miguel include Fabrica de la Aurora, a renovated textile mill showcasing cafés, shops, and works by local artists, Instituto Allende, the renowned art school in San Miguel and several art galleries around town. Are there any incentives or initiatives surrounding the arts that impact your market? Several festivals, conferences and recreational activities including The Guanajuato International Film Festival, the SMART food festival, Jazz festivals, TEDEX events, and local vineyards all bring another level of interest to the high social economic sector, where luxury is very well appreciated.

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