New Condos in Phoenix

New Condos in Phoenix are holding their value better than their counterparts in the rest of the country. While the condo market has cooled nationwide, Phoenix’s condo market remains strong, and prices continue to rise.

Two popular areas for high-rise condo development in this booming Arizona city are the Biltmore or Camelback area, and along Phoenix’s Central Avenue. In 2008, the Valley Metro Light Rail system is scheduled to open along Central Avenue, and several condominium projects along the route are aiming to be completed just before that. The 500-unit Cielo Phoenix project is one of these new Phoenix condo developments, which will add to the Phoenix skyline as one of city’s tallest buildings.

Meet the New Phoenix Condo Buyer

About 10,000 people a month are expected to move to the Phoenix valley over the next several years. Some will move into the new communities being built on the edges of existing development, but many will be moving into the heart of Phoenix.

One large group of new Phoenix condo buyers is wealthy retirees, ready to downsize and pamper themselves in a luxury condo. Even 2008 Presidential hopeful, Senator John McCain and his wife are selling their Phoenix Estate for high-end condominium living. They have chosen two condos at “The Residences” in the Biltmore/Camelback region that they plan to convert into one large home. Once they have moved into their new Phoenix condo, they will enjoy amenities rivaling a 5-star hotel, including a rooftop pool, business center, hi-tech security & surveillance, and a concierge.

New Phoenix condos are also increasingly popular with first-time homebuyers wanting to enter the real estate market. With the recent condo conversion craze in Phoenix drying up rental inventory, and pushing up rental prices, a new condo looks ever more appealing. These conditions also make it a good time to consider becoming a landlord; you’ll have no shortage of tenants in Phoenix. Just check first to see if the condo development you’re considering has any restrictions on renting your property.

So, whether you’re new to Phoenix as a year-round resident or a snowbird seeking a warm winter getaway, whether you’re retiring or just starting out, or somewhere in between, let Condo Center help you find the new Phoenix condo of your dreams.