Last year, Barron’s reported an upswing in sales volume and prices of second homes among the affluent market. Barron’s ranked fifteen locations for beauty, comfort, convenience, a range of lifestyles and—most importantly—value. Sea Island, Georgia was ranked Number 1.
At the same time, many affluent buyers continue to adopt a “wait and see” policy when it comes to purchasing real estate, and luxury home and apartment rentals are on the rise.
At the center of the two developments is Brett Flanagan, Residential Rentals Manager at Hodnett Cooper Real Estate, Inc. “We have a growing number of high-end second home owners on Sea Island who are willing to place their home in a professional rental program,” explained Flanagan, “combined with a growing demand for luxury rental properties so people can ‘test drive’ the area.”
Hodnett Cooper Real Estate, Inc. currently has five Sea Island cottages in its residential rental program (by tradition, even the most extravagant homes on Sea Island are referred to as “cottages”). Two cottages were rented quickly and are currently occupied by families considering a real estate purchase. Another three properties are currently available, ranging from a 6 bedroom, 5.5 bath home for $5,000/month, to a 6 bedroom, 6.5 bath home that rents for $12,000/month. “These homes have extraordinary, distinctive features such as an artist’s loft, gourmet kitchen, private swimming pools and separate guest homes,” said Flanagan.
In addition to exquisite features, residential rental cottages on Sea Island have access to membership privileges at Sea Island Resort. The 84-year-old resort and club underwent a complete rebuild of its iconic Cloister Hotel, beach club, and tennis and spa facilities. Since then, Sea Island, The Cloister and The Lodge (Sea Island’s golf destination on neighboring St. Simons Island) have racked up an impressive portfolio of awards: both hotels are Forbes Five-Star Award winners; resort golf course, Seaside, is ranked a “Top 100 Course” by Golf Magazine; and The Georgian Room at The Cloister is a Forbes Five-Star restaurant.
“We are finding there is a demand for residential rentals on Sea Island, where residents can experience a luxurious home, the resort facilities and activities, and can get a feel for the community before choosing to purchase a home or second home,” explained Flanagan.
Hodnett Cooper Real Estate, Inc is the largest real estate company in the Golden Isles. Hodnett Cooper Real Estate Inc.’s Residential Rentals division features a constantly expanding inventory of over 365 properties and employs four residential rental specialists. For more information, please visit www.hodnettcooper.com, http://www.hodnettcooper.com/resrentals.htm or call toll-free 888-638-4750.