The economic melt down seems a thing of the past. But I guess for us lesser mortals it still is a pain. However those lucky few who are filthy rich needn’t worry about it I guess. At least the emerging trend in real estate shows that. Though the economic predictions regarding the housing sector remains ambiguous, there is a fair chance that the market will experience a rise in rental rates.
An example of this is the seven-bedroom penthouse on the 50th and 51st floors of the Olympic Tower that has been offered by the House of Gucci for a mind blowing for $60,000 a month! This recently renovated penthouse offers a stunning floor-to-ceiling view of New York Harbor and the Empire State Building. It also has two private elevators to add to make it extra special.
This is not the only high end property that has come up in the market. Other listings that are congruent with the emerging trend include the actress Yunjin Kim’s (the one from LOST) Honolulu condominium that was listed at $575,000, but was sold for $621,000. Those in the real estate business would sure like the trend to continue.
Via: Online.WSJ
