The Summer Retreats In Hamptons Once Again Witnesses A Surge Of Rich & Wealthy New Yorkers

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One of the most cherished and widely visited of all summer retreats in the U.S, the Hamptons has once again begun witness the return of rich and wealth tourists from New York. Then entire Hamptons Atlantic Ocean coastline is filled with summer retreat cottages and resorts and the destination had been one of the popular ones, before the onset of the paralyzing global economic recession of 2009.

However, even with the new surge in the sales and rental figures of Hamptons summer retreat properties, there has been a great deal of reluctance among the rich about flaunting their wealth, the housing crisis in the U.S continues to leave numerous people homeless and jobless. As per the figures given by Andrew Saunders, the President of the accounting firm, Saunders & Associates, the beach properties between the price strata of $1 million to $5 million have are experiencing the most amount of sales.

In a similar fashion, the properties that have rental tag of $50,000 to $75,000 have become more popular among the wealthy tourists, rather than the ones that cost about $150,000 to $200,000. Furthermore, the current sales trend is also witnessing a new pattern, where in more and more buyers are purchasing or renting these summer retreat properties in corporate names, rather than in their own, so as to exercise discretion and avoid the public spotlight.

Via Reuters

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