Douglas Elliman released their Q1 2019 Market Reports in South Florida.The South Florida Market reports showed price trends generally edging higher, although sales slipped and inventory slightly increased this quarter. The markets included Miami Beach and Barrier Islands,Fort Lauderdale , Boca Raton, Highland Beach, Delray Beach, Wellington, Palm Beach, Jupiter, and Palm Beach Gardens.Read More
Douglas Elliman has released their Q4 Market Reports for South Florida, produced in conjunction with Miller Samuel a leading independent appraisal firm. The South Florida Market continued to show power in prices, continuing to increase in both the luxury and overall markets across nearly all markets including Miami Beach and Barrier Islands, Fort Lauderdale, etc.Read More
AirBNB has reported that hosts in Miami-Dade took in a whopping $204 million in 2018, up 52% from the $134.6 million in 2017. The county led all of Florida, followed by Osceola County and Broward County at $82.6 million and $80.3 million respectively. AirBNB hosts in Florida took in $810 million in 2018.Read More
The opportunity zone program is a little-known provision of the Tax Cuts and Jobs Act that could be a powerful economic development tool for designated low-income communities. The program provides tax incentives to developers who invest in these areas, including 427 tracts of land in Florida, 68 of which are in Miami-Dade County.Read More
South Florida has and continues to be a hotbed for international buyers, according to the 2017 Survey conducted by the Miami Association of REALTORS. Foreign buyers purchased 15,400 residential units (between August 2016 - July 2017), totaling over $7.2 billion in sales in the Miami-Dade, Broward, Palm Beach, and Martin counties.
A new real estate tech company called Nukondo is attempting to capitalize on this market segment. Their app provides a platform for real estate developers and new construction brokers to stay informed on the latest luxury projects. It standardizes and distributes this information globally, so that buyers and their agents can decide which condominium is most suited for their needs.
After three months of beta-testing, Nukondo has successfully on-boarded 72 of the most prominent projects in Miami such as One Thousand Museum, Missoni Baia, and Turnberry Ocean Club, with over 10,000+ units in inventory. “Our app helps developers expose their projects globally 24/7, allowing them to speed up sales and cut marketing costs,” says founder Jorge Brugo. “Be informed when you’re searching for that special new condominium and make sound buying decisions.”
Nukondo exposes international buyers to the Miami and Florida markets and directs them to a condominium sales team. In Miami, these international buyers are primarily coming from:
1. Argentina: 15%
2. Venezuela: 11%
3. Canada: 11%
4. Colombia: 9%
5. Brazil: 8%
The company will move into its full release once user feedback and content curation have been finalized. The company plans to scale beyond its pilot market of Miami, into other major U.S. and international metropolitan cities.
Douglas Elliman has released their Q2 Market Reports for South Florida, produced in conjunction with Miller Samuel, a leading independent appraisal firm. Despite the constant rumblings of a bubble or a crash, the South Florida market continued to show strength and prices continuing to push higher in both the luxury and overall markets across nearly all marketsRead More
Craig Studnicky's ISG World Miami Report has reported that new construction condos in Miami east of I-95 are 83% sold out. The report includes condos that are either proposed, under construction, pre-sold and recently delivered.Read More
The detrimental effects of continued and increasing state tax in high tax northern states such as New York and Connecticut is beginning to show its effects and fast. Greenwich, Connecticut’s 06831 and Manhattan’s Financial District 10005 were once home to numerous Wall Street big wigs and high income earners, yet residents have either fled or shelled their capital holdings in states such as Florida.Read More
The Miami hotel industry has reported a record shattering start to 2018, leading the nation when it comes to revenue per rentable room. The revenue per room available rose up 17.2% to $226.19 year-over-year.Read More
Miami has been named the top U.S. real estate market for ultra-rich foreign buyers of luxury real estate. According to the US Ultra Prime Real Estate Report, 26% of American ultra-luxury properties sold to overseas buyers were in Miami, with over 95% of the deals being completed in cash.Read More