“The Big Boys Are Comfortable Parting With Money Again”

Homes in the Hamptons have increased in price, Bloomberg.com has reported.

Home prices in New York’s Hamptons, the Long Island oceanside retreat for summering Manhattanites, increased almost 12 percent in the first quarter from a year earlier as the most expensive properties attracted buyers.

The high-end market is showing stability as employment improves and foreign investors seek beachside real estate as a place to park cash, said Jonathan Miller, president of Miller Samuel.

“The big boys are comfortable parting with money again,” said Judi Desiderio, president of Town & Country Real Estate, which released a report this month showing that the dollar value of Hamptons homes that changed hands in the quarter jumped 30 percent to $394.4 million.

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