Palm Springs Property Market and Real Estate Guide

(Palm Springs, California - CA, USA)

Palm Springs is a highly successful resort community in southern California and lies in the desert, about 120 miles / 193 km east of Los Angeles, and hinges on its golf courses. This is a particularly promising place to buy property in the US.

Retirees flock to Palm Springs during the winter, while university students on Spring Break arrive for one- to two-week holidays in March and April. Much of the property located here is directly tied in to local resorts, but there are an increasing number of upscale condominiums on the fairways.

The local atmosphere is intentionally nostalgic, with plenty of 1950s ambiance to cater for the retirement community. While the Spring Break crowd seems to be diminishing, there are still plenty of young career types buying and renting holiday properties in Palm Springs. This is also an up-and-coming destination for gay and lesbian travelers.

Renting Serviced Apartments

As expected, serviced apartments are widespread in Palm Springs. They cater for executives mixing business with golf, retirees who want to spend more time outside and less time tending to house cleaning or maintenance, as well as short-term vacationers who stumble on the discounts shared apartments offer over hotels.

Offerings vary considerably, and there is certainly something to suit every lifestyle and budget. Serviced apartments in Palm Springs are almost always furnished and they may include catering, cleaning and access to shared facilities, such as lounges, fitness centers and golf courses. They are priced well above a standard unfurnished apartment, but are cheaper than hotel suites of the same size.

Buying Apartments and Houses

Property values in Palm Springs saw massive gains in the early 2000s, but slumped in the wake of the worldwide recession. They seem to have hit bottom in early 2010, and some investors are optimistic about the short-term future. If property values return to pre-recession levels, buying now could yield substantial dividends.

In the US, the buyer is responsible for nominal closing costs. In the case of Palm Springs, these usually equate to 1.7 percent of the purchase price, which is a little high by national standards. Sellers pay quite a bit more, a fact which investors must consider if they are committed to reselling the property in a few years. Working through a qualified real estate agent is essential.

Real Estate Agents

Real estate agents are easy to find in Palm Springs, as the local property market has taken off in the past few years. There are many brand-new developments that handle all of their own property management. Meanwhile, an unaffiliated real estate agent can connect you with private properties on North Palm Canyon Drive, Indian Canyon Drive and Ramon Street.

Check out the following Palm Springs realtors and real estate agents:

Palm Springs Real Estate
Address: 501 South Palm Canyon Drive, Palm Springs, California CA, 92262, USA
Tel: +1 760 668 2399
Email: via website
Elaine Stewart heads this agency and has more than 20 years' experience in the Palm Springs real estate market.

Vacation Palm Springs Rental Agency
Address: 1276 North Palm Canyon Drive, Palm Springs, California CA, 92262, USA
Tel: +1 760 778 7832
Email: via website
This agency specialises in rental properties available in the city, both in resort communities and in private condominiums.

Expoint Realty
Address: 255 North El Cielo Road 140, Palm Springs, California CA, 92262, USA
Tel: +1 760 748 2188
Expoint Realty works with an impressive portfolio of properties, condominiums and rentals in the Greater Palm Springs area.