Thursday, June 21, 2012

San Francisco gaining ground as property hotspot

San Francisco offers excellent opportunities for overseas property investors, with property prices in the US city still 35 percent below their peak in 2005.

Considered the finance and venture capital hub of the West Coast, San Francisco has an affluent professional population, second only to New York. But with the city’s regulatory and geographical constraints, there is a shortage of property.



Among the short list is Madrone, a new luxury development located at Mission Bay, San Francisco’s fastest-growing neighbourhood. Developed by award-winning developer Bosaan, the US$1.6 billion (S$2.03 billion) mixed-use project offers residential, hotel, retail and leisure facilities.

These include one- and two-bedroom freehold apartments with top-of-the-line appliances, floor-to-ceiling windows and designer interiors. Five-star facilities include a full-time concierge, gym/spa, gated parking and 75m pool.

Aside from unobstructed views of San Francisco Bay, Madrone also offers the conveniences of city-centre living.

It is close to the financial district, Union Square and Chinatown, while its vibrant neighbourhood is filled with shops, restaurants and parks.

The development offers gross rental yields of up to seven percent and units are priced from US$585,000 (S$742,845).

Separately, Twitter’s Co-founder Jack Dorsey has bought a new cliffside home (pictured) in San Francisco’s exclusive Seacliff neighbourhood.

Priced at around US$9 million (S$11.43 million), the property is said to be the most expensive two-bedroom house in the city and provides majestic views of the Golden Gate bridge and San Francisco Bay.

The 3,700 sq ft home comes with three bathrooms, a private driveway and is hidden from street view to ensure maximum privacy.

View the original article here

Source From Property Guru

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