Real Estate Boom in Clearwater

Florida is all prepared to take over New York in terms of its population in a span of 20-30 years. It is estimated that about 1000 people move to Florida every day. This fact alone is looked upon while talking about the demand of the real estate in Florida. Clearwater, Florida, is no exception to this growing demand. Real estate business is skyrocketing; a lot of new projects are shaping up in the city. Most of these include the luxury condominiums with a varied range of houses and price options. Millions of people are on the fray to acquire the right real estate deal in this season.

Clearwater homes come under different categories. Single family houses, condominiums, townhouses, condo conversions, etc., are listed popularly among the Clearwater multiple listing services (MLS). The price of a single-family house can be anywhere between $250,000 and 1,000,000. These houses generally possess a minimum living area of about 1300 sq. ft, but there are houses that have a living area of about 6000 sq. ft also. The construction offers a variety of options in terms of the number of rooms, the facilities, the nature of construction, etc. Thus you can find single-family houses that possess 6 bedrooms and 6 full bathrooms with ample space allotted for other facilities and activities such as garage, game room, dining room, etc., apart from the normal facilities. There are many luxury homes offered for resale in areas such as Pinellas. The cost of these can be higher, up to $1,150,000.

Clearwater has got a group of under construction projects that include luxury condos, town homes, and other projects that include both residential and commercial establishments such as retail showrooms, restaurants, boutiques, etc.

The luxury condos have got a lot of attractive features. Most of them occupy a minimum area of 2000 sq. ft. Most of them are ideally located facing either the Gulf of Mexico or the Clearwater Bay. The construction of each condominium meets all quality standards. The elegant appearance, ample parking space, spacious garage, outdoor swimming pool and spa, boardroom and library, recreational and sports facilities such as billiards room and entertainment room, etc., are the special features of these new luxury condos.

Condo conversion is another trend in Clearwater. These are rental apartments converted into condos. These are smaller condos, having area between 700 and 1300 sq. ft. They are offered for a price range of about $120,000 to $210,000. Because of these features, these condo conversions have become the popular choice of the young investors. Because of the huge demand, many apartments, especially those in Hillsborough and Pinellas counties, are being converted into condos.

The builders find the condo conversions a cost-effective way of restructuring the real estate in these areas. These locations are highly populated, and therefore converting the rental apartments into condos will invite potential investors towards it. These projects are made attractive by modifying them with parks, swimming pools, spa centers, gymnasiums, etc.

In short, Clearwater offers a variety of real estate investment options to a prospective investor.

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