2016 was a year that the South Florida real estate market saw slowing sales, especially in the luxury condominium market. Developers are now being more realistic with their pricing and putting new projects on hold. The impact of a strong U.S. dollar compared to foreign currencies reduced the buying power of some international buyers. The… read more.
The real estate market is dynamic and changes with different events taking place on the world stage. In most cases we have no control over these events, but it’s how we react that will make the difference between success or failure. Many of these events were in play in previous cycles when the market went… read more.
World class beaches, desirable weather and a growing international airport have put Fort Lauderdale on the map as a highly desirable tourist destination. However, development in downtown Fort Lauderdale has lagged behind the beach area, but this is not so anymore. The downtown has grown into a business hub with many companies now relocating their… read more.
For many years, South Florida real estate has attracted wealthy buyers, primarily from Canada, Europe, and Latin America. However due to a strong U.S. dollar and weak foreign currencies from these areas, the pace has slowed. Now, buyers from countries such as Turkey and China are considering and investing in our market. In the past… read more.
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.