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September 15, 2017
Hurricane Irma brought forceful winds and substantial rainfall to South Florida, but most industry indsiders agree that the damage to luxury real estate could have been significantly worse. In fact, the storm is not expected to have a lasting effect on the real estate market in South Florida.
Prior to Hurricane Irma approaching shore, new construction projects and the massive cranes present at the building sites were of concern, and while multiple cranes did succumb to the lashing winds, damage seems to be relatively minimal. A testament to the strength of new construction and impact-resistant glass, pre-construction buildings, such as Aria on the Bay, survived without a single broken window. While it will take Florida days to weeks to pick up the pieces and resume normal activities, many developers and homeowners are breathing a heavy sigh of relief.
However, while the luxury real estate market seems to have emerged on top, the Florida Keys and other areas were not quite so lucky. Many are still without power, and the recovery process has yet to commence. If you wish to help those less fortunate, here is a list of reputable charities.
For all other insight into the current real estate market in South Florida, contact award-winning broker Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: The Real Deal
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