San Francisco’s booming economy has created a highly desirable real estate market in the city. Glamorous high-rise condos top 5-star luxury hotels, sprawling mansions on its outskirts belong to tech giants that blossomed with the city’s revolution and the historical townhouses have vastly appreciated in value. The real estate market is thriving .
At the beginning of the last decade in 2010, the median sale price for a single family home was $751,000. In 2019, this figure was close to $1.65m. Even when accounting for the inflation as per the formula from the Bureau of Labor Statistics, that initial figure would be $891,000 in today's money and an appreciation of 85% over the course of the decade. Condos were no different, appreciating 55% over the decade having factored in for inflation. The rise of the city’s global importance within the technology sector has undoubtedly played a significant role in this appreciation. So, the question you must ask yourself when thinking of investing in San Francisco - is tech here to stay?
San Francisco is facing a shortage of space and a need for development projects to provide alternatives to the luxury condos that occupy the upper echelons of modern skyscrapers or the original 20th century townhouses that define a quintessential picture of the city. These alternatives are few and far between, with the local government also facing pressure for affordable housing for low-income households.
The latest development, The Shipyard, is set to increase inventory of modern investment properties complete with state-of-the-art amenities. Set in an up-scale, masterplanned community, featuring stunning views and situated in a unique waterfront location, there is no other property like it available in San Francisco today.
Ranging between 600 and 1550 square feet of living space per property, up to three bedroom models available and sophisticated design features, this development is defining the future for residential developments in the city. Designed with contemporary design concepts in mind, including open-plan living, luxurious master facilities and sleek, integrated kitchens, these
apartments are a seamless, modern addition to one of the United States’ hottest real estate markets.
The homes all include innovative, totally coverage WIFI for uninterrupted connectivity, designed with the modern work-life balance and interconnectivity of technology in mind. The integrated kitchen is built from exclusively Bosch appliances for their quality of performance and longevity. Complete with refrigerator, microwave, washer, dryer and beautiful quartz countertops, the design is a stylish, contemporary finish certain to both serve you and impress friends. The home’s interconnectivity of technology is channeled through Amazon Alexa’s voice-activated assistant features and your handheld smart-device. All of these incredible features come at no extra cost to the home buyer with all of the exceptional amenities included in the price.
More than just a development of desirable homes, the masterplanned facilities unite a community through its integrated retail and leisure spaces. Offering accessible commutes into the heart of downtown, the Shipyard Shuttle is an invaluable tool in beating the San Fran traffic. Park spaces provide space often hard to come by in one of the most densely populated cities in the US. Other amenities include public art exhibitions, serene bay views and a playground for young children. One of the most sought-after features that elevates this development above others that have come before it in the Bay area is the large general store within the community. ‘The Storehouse’ as it will be known, will offer more than just your everyday essentials, providing a comprehensive shopping experience on your doorstep. Should you want to do further shopping, the Shipyard is well connected to a variety of shopping, entertainment and dining options in the Downtown, Dogpatch and Bayview areas.
To find out more about the real estate investment opportunities available to you in San Francisco, contact Propeterra today.