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.
South Florida’s housing market looks poised to benefit from the stock market’s volatility. Since the middle of June, people active in the stock market have had to endure widespread swings, almost on a daily basis. Concerns about the weakness of the global economy, falling commodity prices, currency fluctuations, geopolitical turmoil, and worldwide terror threats are… read more.
Fort Lauderdale has a reputation for beautiful beaches, great weather, boating and a myriad of entertainment options. But, over the past 30+ years, Fort Lauderdale has also evolved into a dynamic and diverse city with a thriving business center. While tourism and marine related businesses are the backbone of the local economy, Fort Lauderdale is… read more.
Perceptions about the South Florida real estate market have changed dramatically since 2011. The general mood at the time was a sense of cautious optimism. Today, South Florida has become one of the most sought after destinations in the world. Forbes Magazine ranked Miami as one of the top ten cities for ultra-high-net-worth individuals and… read more.