As most homeowners are quick to point out, highway-facing units are harder to sell or rent out, and should generally be avoided. This is a nugget of property wisdom that’s been around for decades, and is one of those things we accept because it sounds logical. But rather than go with accepted wisdom, we decided to take a look at the actual numbers, and also try to determine the extent of the impact. Here’s a look at how a highway facing has affected some condo units:
A general snapshot of highway-facing units
We picked a few projects which have units that are clearly highway-facing, and units that point elsewhere. Here’s a look at the general buy/sell transactions that occurred:
| Project Name |
|
1BR |
2BR |
3BR |
4BR |
| HUNDRED TREES |
Highway |
18.70% |
28.70% |
29.40% |
|
| Non-Highway |
|
23.10% |
35.80% |
38.40% |
| PARC RIVIERA |
Highway |
23.50% |
19.40% |
17.60% |
18.20% |
| Non-Highway |
|
17.70% |
21.70% |
26.60% |
| SIMS URBAN OASIS |
Highway |
15.80% |
19.40% |
14.50% |
|
| Non-Highway |
16.70% |
20.20% |
20.40% |
14.00% |
| VACANZA @ EAST |
Highway |
9.70% |
16.20% |
13.60% |
|
| Non-Highway |
6.70% |
11.00% |
14.20% |
11.30% |
In short for all four projects, we can see that for three-bedders or larger, highway...
