Number of trends are operating together to make 2017 a fantastic year for Florida luxury real estate. It’s a good year to snatch up some luxury real estate Florida.The market upturn, which rose in January 2017, has driven home sales to register high records. Constructors and banks are positive about the demand and strength of the market for the coming months. International investment in United States is expected to reach even greater heights this year. Boomers are retiring in droves, with Florida as one of their favorite destinations to relocate to. Eric Trump recently announced the family’s real estate brand is pausing overseas investment to focus on domestic opportunities, including in Florida.
Florida offers a variety of fascinating housing opportunities. New developments have been increasing in luxury real estate Florida. There has been an increase in renovating, over the last decade, providing a number of upgraded real estate investment opportunities. Meanwhile, buyers and renters continue to move to beautiful, new properties and are willing to pay a premium for them.
Remarkably, the Miami brand continues to sell worldwide, and long-term trends indicate no reversal in Miami’s fortune as the dominant gateway city, Miami will continue to be a popular global city. However, Fort Lauderdale is increasingly catching the attention of international buyers from South America to Europe, Asia, and Australia.
Access to mortgage credit may still be an issue for middle-class Florida residents looking for new residences. However, billions in capital are freely available for investors. Banks and funds now simply enjoy the ease and lower regulatory liability of lending to seasoned house flippers and luxury rental operators.
As interest rates and property prices continue to take off in 2017, more moderate home buyers may avoid moving up into the luxury sector. This provides more negotiating power to well-funded luxury property investors.
While some have pointed out the dramatic rebound for Florida luxury real estate prices, the big picture is likely to make Florida real estate look inexpensive. Compared to New York or prime markets in California, Florida buyers get far more for their dollar. Compared to London or Hong Kong, Florida is a ridiculously good value.
These factors: low taxes, homestead protection, the weather, and great quality of life are only going to support long term demand and asset value. There appear to be good negotiation opportunities for finding value in the luxury market. While long-term trends support forecasts of increasing yields and asset values.
For more information, contact Jean Deglon, Jean@RealtyServicesFlorida.com or +1 (954) 770 5348
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