Home buyers in search of the perfect location to buy a second home must consider many factors before making their investment. Whether they’re prioritizing locations with favorable tax laws or properties that will be more lucrative as vacation rentals, the process of finding a second home can often be challenging and time-consuming.
As such, buyers are increasingly looking to branded residences in some of the top secondary markets for investing in high-end real estate. Combining the amenities and services one would expect from a five-star hotel with the prestige associated with some of the top hospitality brands in the world, branded residences often retain their value at a higher level than unbranded residences, making them ideal investments.
Cabo San Lucas, Mexico
Residence: The Residences at St. Regis Los Cabos at Quivira (pictured)
Located on the scenic southern tip of the Baja Peninsula, Cabo San Lucas is seen as an attractive alternative to the Caribbean for second home ownership because of its stunning natural scenery, increasingly easy access from major U.S. markets and better value than many of its top competitors in the US or the Caribbean. With over 320 days of sunny weather a year and a laid back, authentic local culture, the destination has seen an influx of homebuyers from the U.S. in recent years. Located on a 33-acre site that features 1,200 feet along the ocean the new St. Regis Residences are projected to open in Fall of 2022 and will quickly become the most sought-after luxury developments in the destination.
Grand Cayman, Cayman Islands
Residence: The Residences at Mandarin Oriental Grand Cayman
Grand Cayman’s luxury real estate market has been booming in recent years, and it continues to be a top market for investing in a second home because of many favorable conditions. Relative to other nearby islands, the Cayman Islands have a high standard of infrastructure, economic and political stability and lax rules on foreign transactions. Featuring one of the top standards of living in the world, it is also relatively easy to obtain citizenship in the Cayman Islands through property ownership. Luxury projects such as the future The Residences at Mandarin Oriental Grand Cayman, which will break ground early next year, will continue to drive a strong luxury market with its branded residences and five-star resort.
Nashville, Tennessee
Residence: Four Seasons Private Residences Nashville
The Music City has undergone a renaissance in recent years after giant companies like Oracle and Amazon have built major operations in the city. In turn, the city’s downtown is a more desirable location to live than ever, with luxury condos becoming a hot commodity along its riverfront. New developments like Four Seasons Private Residences Nashville offer a chance to live downtown before it’s too late. A close walk to some of Nashville’s most famous performing arts venues like the Ryman Auditorium and the Ascend Amphitheatre, and nearby the city’s famous nightlife, the 143 private residences in this new development won’t be on the market for long.
Boca Raton, Florida
Residence: The Residences at Mandarin Oriental, Boca Raton
As one of the most tax-friendly locations in the U.S., Florida has long been seen as one of the best domestic locations to buy a second home. Residents do not have to pay state income tax and they also enjoy warm weather throughout the year as well as some of the top golf courses in the world. As part of Via Mizner, the world-class urban resort, the Residences at Mandarin Oriental, Boca Raton are scheduled to be completed in the second quarter of 2022 with a collection of 85 Residences. Among its many amenities, the property features membership privileges at Via Mizner Golf & City Club, featuring an 18-hole Jack Nicklaus-designed Golf Course.
