From serene homes nestled in the shadow of Camelback Mountain to cutting-edge luxury developments offering world-class amenities, Arizona is emerging as a premier destination for real estate investment. Alanna Mann, president of The Statesman Group and developer of The Luxe at Desert Ridge, sheds some light on what makes Arizona the new frontier of luxury real estate investment.
The Valley has become a magnet for affluent buyers with its stunning desert landscape and investor-friendly policies. Mann emphasizes that the state’s enviable weather significantly affects its appeal.
“Arizona offers breathtaking sunrises, sunsets, and minimal natural disasters. As a Sun Belt state, Arizona attracts baby boomers who hold the largest share of wealth in the United States,” Mann said.
Communities like The Luxe at Desert Ridge cater to this demographic. With locations in North Phoenix and Scottsdale, The Luxe is a premier community that offers exquisitely designed condominiums priced at $950,000 and above with state-of-the-art amenities, security, and underground parking. The condos include multi-seat movie rooms, luxury wine rooms, outdoor kitchens, infrared saunas, and more.
“Luxury condo buyers prioritize indoor and outdoor living spaces, gourmet kitchens, amenities, and services,” Mann said. “Those are the top three demands for luxury condo living that I’m seeing.”
Arizona’s lifestyle adds another layer of allure for luxury buyers and investors.
“Arizona is the second fastest growing state in the nation and is also a tourist hotspot averaging more than 45 million secondary, vacation, and vocational visitors annually, bringing billions into our state economy,” Mann said.
Luxury rental properties are thriving, with long-term rental rates reaching $3 to $5 per square foot. The state’s lower taxes and affordable living expenses enhance its attractiveness, and a new policy that eliminates rental tax starting January 1, 2025, will further benefit investors. Mann also observed shifts in buyer priorities. Indoor/outdoor spaces, top-of-the-line kitchen appliances, and added amenities are reflected in high-end development communities, which embrace a modern luxury lifestyle.
While Mann hints at exciting future projects from The Statesman Group, specifies remain under wraps. One thing is sure: Arizona is primed to lead the next wave of luxury real estate with its blend of lifestyle and economic advantages. To learn more about The Luxe at Desert Ridge, visit theluxecondoliving.com.
