Forty-two new condo buildings with nearly 3,300 units are currently proposed for the City of Fort Lauderdale as compared to approximately 15 buildings with less than 800 units proposed back in June 2014, according to Peter Zalewski of Crane Spotters. Due to a lack of oceanfront sites in Miami and higher land acquisition costs, some… read more.
Is Fort Lauderdale becoming the new Miami? Developers and investors seem to think so. For many years, Fort Lauderdale was known as a spring break destination where hotel rates were inexpensive and the city catered to the college crowd. Now, with chic new hotels and significantly higher room rates, more sophisticated visitors and buyers are… read more.
As the U.S. dollar continues to gain strength against foreign currencies, the buying power of foreign real estate investors is weakening. The currency devaluations along with other destabilizing economic and political factors in Latin America and Russia are making it harder for buyers from those countries to purchase U.S. real estate. During the 12 month… read more.
One difference between South Florida today and South Florida a few years ago is the sheer numbers of ultra-high net worth buyers coming to buy second or third homes. These buyers are looking for the “wow” factor. They relate to designer names such as Porsche, Armani, and Fendi. Developers are embracing the notion that homes,… read more.
In the 1970’s, developers had prime waterfront locations on which to build luxury high rise condominiums and then selling them to upscale buyers from around the world at relatively high prices. Most were located directly on the sand and had state-of-the-art amenities for their time. Fast forward to today and we have a new condo… read more.
The South Florida corridor between Fort Lauderdale and Miami has become the area of choice for international buyers. Condo developers have reacted to this demand with 325 new towers and approximately 41,000 proposed units. Of that number, over 13,000 units are under construction, waiting to close or have already closed. Latin Americans, who fear the… read more.
Real estate is the backbone of the economy. The robust performance of the South Florida real estate market in 2012, 2013 and 2014 has strengthened the local economy, created jobs, increased spending and boosted consumer confidence. After two years of double digit appreciation, prices moderated in 2014 to single digit appreciation levels and looking ahead… read more.
International buyers have had a very positive impact on the South Florida real estate market’s recovery. Many international buyers purchase here because of our world class amenities combined with the weather, the beaches and the proximity to international airports. Another big draw that attracts international buyers is the opportunity to invest in real estate and… read more.
Broward County offers beautiful beaches, good transportation networks, plentiful job opportunities, an international airport and attractive housing. Developers realize Broward’s advantages and are building luxury residences with world class amenities at prices that are more affordable than in Miami. As a result, both domestic and international buyers are increasingly attracted to Broward’s more affordable housing… read more.
South Florida’s new construction condo boom has been ramping up since 2011. Developers have proposed 284 new condo towers totaling more than 38,000 units for sites east of I-95 in Miami-Dade, Broward and Palm Beach counties. The projection for Miami-Dade County is 180 towers with more than 28,250 units. Broward County is projected to have… read more.