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April 30, 2013
Previously, the tallest buildings in the world were built to provide office space, while residential buildings lingered in their shadows. However, that is no longer the case. In recent years, luxury residential developers have raced skyward to provide panoramic views for cash-flush global buyers.
April 26, 2013
The real estate market in Miami and surrounding areas has been hot lately, thanks in part to an increase of wealthy overseas buyers purchasing vacation homes with cash. With foreign wealth flocking to Miami, luxury sales prices have increased in the first quarter of 2013, on a year-over-year basis.
April 22, 2013
Home prices in South Florida continued to increase in March due to growing demand and declining housing inventory. In Miami-Dade County, the median price of a single-family home rose 25.1 percent to 225,000 dollars, compared to 179,850 dollars a year earlier. In Broward County, the median price of an existing single-family home jumped 26.3 percent to 242,500 dollars in March, from 192,000 dollars a year earlier. On average, single-family homes were on the market for just 30 days, compared to 46 days last year.
April 19, 2013
As overseas buyers continue to purchase second homes in the United States, developers are increasingly customizing their projects to appeal to the global audience. In 2012, international buyers purchased 82.5 billion dollars’ worth of residential real estate in the U.S., up from 53.4 billion dollars in 2010. With no slowdown in sight, developers are finding ways to tailor the interiors of residential units to suit the tastes of buyers from different countries.
April 17, 2013
The Porsche Design Tower currently has over half of its 132 units under contract, according to Gil Dezer, president of Dezer Development. This equates to an impressive total of over 400 million dollars in sales at the luxury condo building. The ultra-exclusive, 60-story tower is set to rise in Sunny Isles Beach.
April 15, 2013
After a few years on the market, the price of Lilly Pulitzer’s Palm Beach home has been reduced. Sadly, the fashion designer and noted socialite passed away earlier this month. However, with the recent price reduction and death of the home’s famous owner, the ultimate Pulitzer fan now has a prime opportunity to literally own the designer’s closet.
April 12, 2013
A new, luxury high-rise is coming to 1451 Brickell Avenue. The developer, Property Markets Group (PMG), will start taking reservations for Echo Brickell next week. If all goes as planned, the building will be the tallest residential tower in Miami to date. The current tallest building is the Four Seasons, which is located next to the Echo Brickell site.
April 9, 2013
The luxury residential market in Miami-Dade County strengthened over the first quarter, according to a new quarterly report on the overall Miami-Dade residential market by StreetEasy.com. Luxury residential sales saw an increase of 16.3 percent in the first quarter of 2013 compared with a year earlier and an increase of 8.7 percent compared with last quarter.
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