America’s Cup Drives Up Property Values in Marina District

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From July 4th to September 21st, top skippers from around the world will be racing their high-tech sailboats around San Francisco Bay in pursuit of sailing’s oldest and most prestigious trophy: the America’s Cup.  A month from now, spectators from all corners of the globe will converge on San Francisco to watch their countries battle the Bay’s notorious winds in high speed, high stakes races.

With the influx in wealthy foreign and domestic spectators has come the demand for unobstructed views of the America’s Cup course.  This high demand has driven prices sky high for homeowners looking to rent or sell their property for the event.  Everybody wants a front row seat at the race, but with limited space and visibility from the Crissy Field grandstands, high-level apartments and hilltop homes are perhaps an even better alternative.

Studio apartments in the Marina District, some as small as 400 square feet, with clear views of the America’s Cup course have sold for almost $490 thousand.  At nearly $1,200 per square foot, it is clear that people are willing to drop big money to watch the America’s Cup from a local’s perspective. Up on Russian Hill, larger 2,000 sqare foot units are being rented at $20 thousand per month wile the Cup is in town.  That is more than a 30 percent increase in rental value compared to the rest of the year.  Rooftop patios of the luxurious Pacific Heights homes are another highly desirable location to watch the races from.  Their property values have increased immensely with the approaching America’s Cup, leaving homeowners willing to sell or rent their properties in a particularly advantageous situation.  Even if homeowners decide to keep their properties, the increased rental and sale values of neighboring homes have driven their property values, leaving them in a much more desirable position should they decide to sell their homes in the near future.