miami real estate blog: Ever-growing demand in Coconut Grove - 03/07/19 10:58 AM
According to the analytics company, Neighborhoodscout's data, Coconut Grove is today one out of the 3 hottest areas to buy real estate in Miami! 
 
To have a little background, Neighborhoodscout is a company that analyses the micro-economics of the different neighborhoods for each area throughout the United States. It gathers information such as house pricing, property taxes, housing stocks, vacancy rates, and other metrics to understand the neighborhood's behavior. After analyzing the evolution of Coconut Grove for the past years, the conclusion was that the prices for the residential properties have increased against any projection.  The average price /sqft has been growing from … (0 comments)

miami real estate blog: Stormy weather for developers - 07/20/18 08:27 AM
Miami condo’s supply are growing in numbers. In the year 2017 alone, 14 condo projects were delivered which includes high-profile projects such as Four Seasons Residences at The Surf Club, Louver House, Echo Brickell, Biscayne Beach, Brickell Heights and many more. Some of these projects were sold 100% before the completion date and some sold poorly.
For example, Biltmore Parc sold only 34% of their inventory while Four Season Residences at The Surf Club sold 49%. These developers are still looking for buyers past the project delivery and now, they are competing with their own buyers. In one instance, a buyer who … (1 comments)

miami real estate blog: Guess where the high networth individuals are investing? - 07/06/18 09:46 AM
There is no doubt that Florida attracts foreign and out-of-state buyers. Recently, there is a sudden flow of high income individuals scooping properties throughout the state. In fact, most of them are focusing on multi-million homes. The reason behind this trend is most likely due to the tax bill that was introduced last year. In fact, it drove the traffic to Florida where more people are making Florida their primary residency.
According to The Real Deal, the new tax bill limited the taxpayer’s ability to deduct their state and local tax from their federal taxable income. This means that individuals from high … (2 comments)

miami real estate blog: The largest condo for sale in Miami - 05/25/18 01:57 PM
Miami is well-known for its warm weather and beautiful beaches. Its perfect for the bachelor life and also for family! Whether you are relocating or finding a condo to upgrade, we have curated this perfect list for you. It’s time to live inside a palace up on the sky like the way you deserve. Here is our countdown to the best unit to buy!
 
       Unit 1701-S at St. Regis Bal Harbour – 13,254sqft - $20,995,000
       Unit 5603 at Jade Signature – 11,661sqft - $32,980,00
  PH-43 at Regalia Condo – 10,755sqft - $36,000,000
(2 comments)

miami real estate blog: Downtown Miami Real Estate Report 2016 - 2017 - 03/23/18 08:55 AM
It’s time to evaluate the real estate market in one of the most popular neighborhood in Miami, the Downtown. Condoideas took 8 different condos (900 Biscayne condo, Marina Blue condo, Paramount Bay condo, Marquis condo, One Miami condo, Ten Museum Park condo, Quantum condo and 1800 Club condo) and evaluated their statistics from the year 2016 to the year 2017. Two things are taken into consideration which is the sales of units inside the building and their price.
Based on the graph, we can see that there is a slight decrease of sales in the Downtown Miami area. For example, Marina Blue condo which is located right in front of Bay Park … (0 comments)

miami real estate blog: Luxury Real Estate Report - 03/09/18 02:55 PM
 
Miami is synonymous with luxury. Over the past few years, we have seen the boom in luxurious condo constructions such as the Armani Residences, The Ritz-Carlton Sunny Isles, and The Aston Martin Residences. Let's have a look at some numbers to feel the current market trend.
 
The trends we can see are that the condos take longer to sell and the sales volume have dropped. It took 54 days longer for a condo to be sold in 2017 than in 2016 in the South of Fifth neighborhood. The days needed to sell a unit in other neighborhoods such as Brickell and Fisher … (1 comments)

miami real estate blog: The surge of foreign buyers in the United States home markets - 11/17/17 06:54 AM
United States real estate market is attracting many foreign buyers. According to the report by National Association of Realtors (NAR), foreign buyers and new immigrants are purchasing $153 billion worth of US properties. Interestingly, the breakdown of sales between foreigners and new immigrants are equal at 50:50 each.
The NAR also explains that this was the highest recorded property worth bought by foreign buyers since 2009. The purchase represents 10% of total value of existing home sales in the US excluding new homes. To add further, the value of property bought by these buyers increased by 49% since last year.
The largest group … (2 comments)

miami real estate blog: From Russia to Miami ! - 02/10/17 01:36 PM
Since Trump has been elected, the ties between the US and Russia have tightened. Putin and Trump had an exchange of opinions last week on the position of the United States in regards to previous sanctions against Russia. 
For the past 3 months Russian buyers have Miami real estate in the back of their mind. They are on the top of the list for foreign countries looking online for a house in Miami. It’s the first time since 2013  that this country is number one ahead of Columbia, Venezuela, Argentina and Brazil.
The relationship with Russia had declined during Obama’s presidency … (0 comments)

miami real estate blog: Buyers are finally pulling the trigger - 01/23/17 12:34 PM
Since Trump has been elected president, new homebuyers are back into the real estate market to take advantage of the low mortgage rates before they rise. Furthermore, many investors believe that thanks to the election of the new president the economy will get better and the inflation will increase. His plan to cut down taxes and increase job opportunities thanks to new infrastructures has motivated buyers.
 
Right after the election day, the 30-year national average mortgage rate grew from 3.5% to 3.95%. This has been the highest rate since December 2015.
Thanks to this situation, buyers are rushing to take immediate action to … (2 comments)

miami real estate blog: Chinese buyers in Miami doubled since 2012. Will the trend continue? - 09/08/16 05:29 AM
Last month, 20 of the best Chinese brokers were in Miami for a city tour. They were mainly interested in gathering information on the luxury condo. These brokers were chosen on the basis of their annual sales which had to be in total above $17 million. Developers organized this trip since they are trying to attract customers from new countries moving the focus on the Far East. From April 2015 to March 2016 Chinese buyers purchased 27.3 billion worth of US real estate far above Canadians whom spent only $8.9 billion.
What are we doing to increase the interest of Chinese buyers … (1 comments)