The Orlando Sentinel reports that “Five years after local real-estate professionals wrote off the downtown Orlando condominium market as a dark-windowed wasteland of half-empty towers, urban lifestyles and downtown views have sparked bidding wars on upscale units.”
It’s not so much that there’s anything special about the units or the market, builders simply underestimated the demand for high end penthouses in Orlando and built only a couple in each tower.
Hardly surprising really. This isn’t Miami, or L.A. And who was to know in 2004 that the Amway Area would be built causing our local basketball players to seek high end accommodation in humble Orlando.
With financing options virtually eliminated, the only buyers with the ability to purchase Orlando condo penthouses have been well healed cash buyers, and there have been precious few of those – until recently.
For more information on the Orlando condo scene and penthouse options, contact Condo Metropolis on 407-901-5161 or email Info@CondoMetropolis.com
See also this post on one of the best post-condo-crash deals, a Solaire penthouse which sold in 2008.