Over the next two weekends, hundreds of thousands of music lovers will make their way to the California desert for the annual Coachella Valley Music and Arts Festival. In addition to inspiring questionable fashion choices, the 17-year-old Indio, California festival is helping to drive a building boom. According to a recent piece by The Hollywood Reporter, Coachella’s popularity is pushing up entertainment- and fashion-industry demand for properties in Palm Springs and surrounding areas. Buyers are especially attracted to mid-century properties that were built by well-known architects — and are available for a fraction of the price they’d pay just two hours west. They’re looking at both second-home and investment opportunities; during Coachella and Modernism Week (an architectural and design festival held in Palm Springs every February), rental opportunities are strong for luxury homeowners. Here are some of the properties currently on the market near Coachella.
Christie’s International Real Estate
PRICE: $8.9 million
BEDROOMS: 5
BATHROOMS: 6 Bringing the full Palm Springs experience, this five-bedroom estate features 8,000 square feet of space surrounded by nearly 1.5 acres of grounds created by renowned landscape architect Steve Martino. View Listing
Hom Sotheby's International Realty
PRICE: $2.395 million
BEDROOMS: 5
BATHROOMS: 3.5 This five-bedroom, Tuscan-style estate comes with a private stretch of Shadow Lake, a 46-acre, man-made watering hole designed for water-skiing. The music festival is held just a few minutes down the road. View Listing
Hom Sotheby's International Realty
PRICE: $3.25 million
BEDROOMS: 5
BATHROOMS: 6.5 This recently renovated, ultra-private five-bedroom estate sits in Movie Colony, a classic Palm Springs neighborhood once home to Cary Grant. It has two private resort-style pools and multiple entertaining areas, and is just minutes from downtown. View Listing
Hom Sotheby's International Realty
PRICE: $3.395 million
BEDROOMS: 4
BATHROOMS: 4.5 Located in a quiet cul-de-sac, this four-bedroom, 4 ½-bath Spanish-style villa in La Quinta may not have Palm Springs’ mid-century charms, but it has mountain views that rival anything found further north. It’s also much closer to the town of Coachella. View Listing
Hom Sotheby's International Realty
PRICE: $1.75 million
BEDROOMS: 3
BATHROOMS: 3.5 Designed by award-winning architect Anthony Poon, this Italian-style Palladian villa boasts a long lap pool, spa and panoramic views of Mount San Jacinto. View Listing MORE From Mansion Global:
