The South Florida real estate market recovered from the recession of 2008 with double digit price growth from 2011 until early 2015. Pricing became over-inflated, especially in the Miami marketplace as foreign buyers took advantage of the weak dollar and falling prices by investing in Miami real estate. This fueled a buying frenzy and unsustainable… read more.
With the United Kingdom voting to leave the European Union, what does Brexit mean for the US real estate market and South Florida in particular? According to some experts in the financial and real estate fields, it could have a positive impact on South Florida real estate. Foreign buyers looking for a stable and safe… read more.
The real estate market is affected by economic, financial, and social conditions as well as the perception projected by the media. During the last real estate cycle, the market was driven by developers, certain reckless lenders and speculators flipping properties for a quick profit. The media glorified this speculative fever by promoting people living the… read more.
South Florida is in the fifth year of a real estate cycle that began in 2011 with robust sales. Now, some wonder whether another correction may occur. South Florida’s luxury residential market has fewer closed sales this year than for the same time period last year. The convergence of dwindling foreign capital and a large… read more.
The movie “Where the Boys Are” put Fort Lauderdale on the map in 1960 as the go to city for college students on Spring Break. Fifty-six years later, Fort Lauderdale is still a hot spot but for a different demographic. As waterfront property in Miami has become increasingly scarce and expensive, many luxury residential developers… read more.
The last couple of years, especially the overheated years of 2013 and 2014, have been banner years for the South Florida real estate market. It was primarily driven by international buyers seeking a safe investment. Developers accommodated this need by constructing high-end buildings on the water with ultra luxury amenities. The market was almost like… read more.
Cash buyers of luxury residential real estate in Miami-Dade County and the Borough of Manhattan in New York City will be subject to new federal disclosure requirements beginning March 1, 2016 through August 27, 2016. The intent is to uncover money laundering and to identify the “natural persons” behind shell companies that purchase expensive residential… read more.
2015 was a good year for the real estate market in South Florida. Now that we are embarking on a new year, the following insights may give us some idea of what to expect for 2016. The law firm of Berger Singerman, with offices in Fort Lauderdale and Miami, conducted a survey in which they… read more.
The luxury real estate market (residential properties $1 million and above) has been at the forefront of South Florida’s real estate recovery. But, several factors are now prompting market observers to question whether the luxury sector is starting to lose momentum. Chief among these concerns is the build up of new inventory coming on the… read more.
The luxury market in South Florida has been, in large part, driven by international buyers. With the strengthened US dollar and currency fluctuations abroad, international buying is slowing and the domestic buyer is taking a larger role. The domestic tourists coming to Fort Lauderdale often become buyers and they are almost 25% wealthier than tourists… read more.