Fewer Buyers Making Large Cash Payments For High End Luxury Homes

Home buyers face a variety of options when it comes to choosing a new home. Deciding on a Luxury House in Phatthanakan will depend on the home buyer’s requirements in terms of value, privacy and maintenance. There are other factors that will be considered like location, outdoor space, amenities, conditions and freedom to customize the property.

Early this year, Christie’s International Real Estate has revealed that fewer and fewer buyers are making real estate transactions with large cash percentage. Five years ago, at least 80% of the top-ranking property markets reported that luxury homes were usually acquired with 50% cash or through non-traditional financing. Luxury homes are defined globally as properties that are valued at more than $2.1million.

In major property markets across the country, high-end level home-buying do not appear as though cash is still king. Low interest rates have seriously affected the amount of cash paid for high end luxury homes. Leading realtors in Los Angeles, New York and Miami weigh in on how home buyers are making the most of their money by securing the best deals to take advantage of the current property market.

In Los Angeles, all-cash transactions are affected by more factors compared to other cities. There is a high percentage of rich people and wealthy parents who are buying homes for their children. There is also a high percentage of tech money so that there is more cash transactions than other cities. Last year, The Agency achieved two record-breaking sales that are more than $100 million in Los Angeles. The buyers paid in cash.

According to Billy Rose, co-founder of The Agency, the threshold of buyers paying all-cash in Los Angeles is $15 million up. Foreign buyers who do not have credit history have to pay cash at nearly every price point.

One of the main selling points of Luxury House in Phatthanakan is its favourable location to the city of Bangkok and everything it offers. The views are breathtaking and the neighbourhood is peaceful and quiet. A luxury home usually offers all the space that a family requires with just enough bedrooms and baths for convenience.