Luxe List Home Adds 12 Atlanta Communities to Its 2010 List
- Oct 26, 2010
Los Angeles–Luxe List Home has chosen 12 luxury apartment communities in Atlanta for inclusion in the 2010 Luxe List, an online residential resource that connects luxury rental customers with apartments in the U.S.
The 12 communities now featured on the site include The GoodWynn at Town, Gables Midtown, 05 Buckhead, Westchester at Peachtree Valley, Gables Sheridan, The Residences at Vinings Mountain, Gables Century Center, Gables 820 West, Tremont, Berkeley Heights, The Manor at Buckhead and Pencil Factory Flats & Shops.
“These communities reflect the quality and style highly valued by the luxury renter,” says CEO David J. Doyle. “The vast Atlanta metropolitan area presented a unique opportunity for Luxe to showcase a variety of impressive properties in multiple neighborhoods that ranged from downtown urban chic to suburban sophisticated.”
Each of these communities underwent a rigorous inspection and was scored according to a proprietary system based on consumer preference research. Only the top 10 percent of the highest rated luxury apartments in each city are deemed eligible each year.
“Traditional online and print resources force luxury renters to comb through hundreds of general listings in order to identify the best apartments in each metropolitan market, whereas Luxe List provides a dedicated resource and decision engine,” Doyle says. “With the staggering decline in home values and homeownership demand, there is a growing trend of prospective residents moving out of houses who want and can afford a luxury apartment.”
Alan M. Shafer, chief operating officer of Luxe List, says, “What we’re hearing from our luxury renters is a change in attitude towards homeownership. A luxury rental provides a very desirable alternative, without the risks and immobility associated with homeownership today. People have openly expressed concern that their purchase might continue to decline in value even though it seems like a good deal today. This is resulting in a growing class of ‘renters-by-choice’ in the multifamily market.”
In the second quarter of 2010, the homeownership rate nationwide fell to 66.9 percent, the lowest since 1999, and most analysts think it will drop even further. At the same time, occupancy levels are making a comeback, particularly in high-end communities, according to a recent report by Marcus & Millichap.
“With foreclosures and job losses still high in many cities, leasing an apartment is one way to wait out the turbulence and keep your options open if your work or financial situation changes,” Shafer says. “Whether you’re a renter by choice or default, a luxury apartment can preserve your sense of wealth and accomplishment without the burden of owning a house.”