From tranquil homes nestled in the shadow of Camelback Mountain to state-of-the-art luxury developments with world-class amenities, Arizona has emerged as a premier destination for real estate investment. Alana Mann, president of Statesman Group and developer of The Lux at Desert Ridge, sheds light on what makes Arizona a new frontier for luxury real estate investing.
The valley’s stunning desert landscape and investor-friendly policies make it a magnet for high-net-worth buyers. Mann emphasizes that the state’s enviable weather plays a big part in its appeal.
“Arizona offers breathtaking sunrises and sunsets, and minimal natural disasters.As a Sunbelt state, Arizona attracts the baby boomer generation, which accounts for the largest amount of wealth in the United States. ” Mann said.
Communities like The Luxe at Desert Ridge cater to this demographic. Based in North Phoenix and Scottsdale, The Luxe is a premier community offering exquisitely designed condominiums priced over $950,000 with state-of-the-art amenities, security, and underground parking. The condo features a multi-seat movie room, fine wine room, outdoor kitchen, infrared sauna, and more.
“Luxury condo buyers prioritize indoor and outdoor living spaces, gourmet kitchens, amenities and services,” Mann says. “These are the top three requests I see for luxury condo living.”
Arizona’s lifestyle adds even more appeal to luxury buyers and investors.
“Arizona is the second fastest growing state in the nation and a tourist destination that averages more than 45 million secondary, vacation, and professional travelers annually, contributing billions to the state’s economy. It’s bringing in dollars,” Mann said.
Luxury rental properties are thriving, with long-term rentals reaching $3 to $5 per square foot. The state’s low taxes and affordable cost of living add to its appeal, and investors will benefit even more with a new policy that eliminates rental taxes from January 1, 2025. Mann also noticed a shift in buyer priorities. Indoor/outdoor spaces, top-of-the-line kitchen appliances, and additional amenities reflect a high-end development community that embraces a modern, luxurious lifestyle.
Mann has hinted at exciting future projects for Statesman Group, but details are still being kept under wraps. One thing is for sure: Arizona is poised to lead the next wave of luxury real estate with its blend of lifestyle and economic advantages. For more information about The Lux at Desert Ridge, visit theluxecondoliving.com.
