Disney Builds Luxury Homes

For the most part anything that Disney touches turns to gold so we won't bet against their plan to build luxury homes.

According to the Wall Street Journal:

Walt Disney Co. plans to unveil Wednesday its first foray into residential real estate in more than a decade with a pricey vacation-home development in Florida's Walt Disney World.

It's a risky move. Disney will offer homes priced between $1.5 million and $8 million in a state where the foreclosure rate remains among the nation's highest. In Orlando, where brokers say home values have dropped between 50% and 60% from the peak, Disney's pricing would put its homes near the top of the market. According to Realtor.com, the average price of new listings in greater Orlando this year is just over $243,000.

But Disney believes the market for luxury homes is rebounding. Despite adding wine-tasting events and VIP park tours in recent years, "The affluent market is an area where we haven't offered a lot of product," says Matt Kelly, vice president of Disney resort real-estate development.

The proposed 980-acre Golden Oak development, most recently two golf courses within the 40 square miles of Disney's Orlando theme parks, is expected to eventually encompass 450 homes and a 445-room Four Seasons hotel.

They picked a hell of a time to develop luxury homes but some people just love Disney so much they may plunk down the dollars just to say they live in a Disney development.

Charles & Hudson | Comments () |

Cape Coral Property Management

Really relevant topic for today's trends in the housing crisis, it would really help a lot to have information with such situation. Thanks for sharing!

Cape Coral Real Estate Listing

Yeah, that's a risky move. Although Disney has a lot more to offer, investment such as this big would be wasted if the plans wouldn't be that successful..

Cape Coral Properties

Most I recently seen of buyers are comparing condition and amenities of real estate to see if they are getting a bargain or getting ripped. This is a part of economic crisis.

Las Vegas Luxury Homes

I’ve been watching this development for a while now wondering what was being done, and I have mixed feelings on what I now know. The only thing not making me a little more upset is the announcement that came out a while back about the new value resort being constructed.

Cape Coral Rental Management

luxury homes is rebounding. Yes but more serious buyers and investors are focusing renovated and foreclosure luxury properties.

Luxury Real Estate

I suspect that people who have accomplished enough in life to afford an $8M home probably wouldn't be attracted by the Disney world of fake plastic representations of some "imagineer's" vision of what real life is like.