Financially, Aspen historically has weathered the economic crisis better than other resort destinations. And compared to current real estate booms on both American coasts, Aspenproperties still come in at a relative bargain. A recent New York Times article reported that the over-supply of asset classes that are experiencing bubble-like run ups is causing investors to seek a wider net of undervalued assets, not necessarily for investment returns but for safe harbour, inflation hedge and portfolio diversification as well. “A new Aspen core condo at US$2,000-US$2,500 sqft seems like a bargain when compared to Manhattan’s US $6,000- US $6,500 sqft luxury properties,” states a recent report from Estin Properties, an Aspen-based brokerage and research firm. [sic]
Link to article Jan 2015, Palace Magazine (Asia)
