Looks like the passion for Downtown Oakland real estate is unabated. And I think we can all see why. Have you driven across the new Bay Bridge from Oakland to San Francisco recently? There are new high rise residential structures going up as fast as you can say “I want that condo.” Faster than I can say it, anyway. But why?
Silicon Valley is uncool. Sorry, it’s just true. And so all the smart hipster tech people have finally gotten fed up with driving from San Francisco to Palo Alto or Mountain View every day. Why not just live and work in the City? So all of a sudden the past several years Oakland is sitting right next to one of the biggest transfers of wealth and brainpower in the world at this time. Goodbye pocket protectors, hello gastropub…and everything else new that you can think of.
Condominium prices in premium Oakland locations are less than 50% of San Francisco prices? Oakland is more hip than Mountain View? So even though just about everyone in high tech would like to live and work in SF, they can rent a comparative palace by BART in Oakland 20 minutes away.
This is pushing up prices near BART stations in Oakland. A good time to buy, sell or trade up if you can do it right.