Nick and the rest of the office recently got a special behind-the-scenes tour of the brand new Raffles Residences. This month, he talks about the exciting aspects of these highly anticipated homes and how they will blend into the Boston landscape.
What can you tell us about the new Raffles Residences?
Like many Bostonians, I had never heard of the Raffles hotel brand before. Walking into the sales center of the Raffles Residences, I sensed a different level of quality and finishes in these homes compared to what we see in many of the new luxury towers in Boston.
The attention to detail was noticeable immediately, even in the small details like the knockers on the front door.
This group of developers definitely wasn't interested in delivering just a plain box. We are seeing a new bar set for luxury properties in Boston with the addition of the Raffles Residences, and I couldn't be more excited.
What are the amenities at the Raffles Residences going to be like?
The homes at the Raffles Residences will be spectacular, but its amenities stole the show for me during my tour. A variety of resident-only spaces will be available in addition to the ones shared with the hotel. From the three-story Sky Lobby set high above Copley Square to the state-of-the-art spa, fitness center, and pool, residents of Raffles will have everything they need at their fingertips and more.
What thoughts do you have about the luxury condo market in Boston in 2022?
The luxury condo market continues to grow in Boston. It wasn't very long ago that $1000 per square foot was the threshold for luxury in Boston. Today, we regularly see $2000, $3000, and even $4000+ per square foot for the most premium homes in the city. This market is less affected by changes in interest rates so I expect it to remain healthy throughout the rest of the year. Boston's wide variety of industries such as healthcare, biotechnology, pharmaceuticals, technology, and best in the world educational institutions, helps insulate us from economic downturns. This stability adds to the appeal for both local and international buyers, increasing overall demand for luxury properties in Boston.