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February 26, 2018
Missoni Baia, a luxury waterfront condo project coming to the Edgewater neighborhood in Miami, will be adding more residences. Miami's Urban Development Review Board has just approved design changes to Missoni Baia which will make the building taller and add more units to the luxury tower. Missoni Baia will go from 146 to 249 units and will add over 300 more parking spaces. The tower will also be about 5 feet taller and will increase its square footage total from 771,000 to 838,000 square feet.
February 22, 2018
A handful of luxury residential new construction developers have just released new renderings of some condo projects coming to South Florida. G&G Business Developments and Aston Martin have unveiled new renderings of the Aston Martin Residences tower in Miami. Uptown Biscayne developers, CK Prive Group, have released new renders of the five acre mixed-use project in North Miami Beach. The Trump Group just released renderings of Estates at Acqualina’s Casa D’Oro, a single-family home being built on the site. Kolter Group just released renderings of its third tower at Water Club North, the Encore Tower in West Palm Beach.
February 19, 2018
According to the National Realtors Association of Realtors, Canadians made up 9 percent of foreign buyers of South Florida residential properties last year. That number is up from 6 percent in purchased in 2016. Canadians also bought $19 billion of residential property in the United States last year, more than double their $8.9 million of purchases in 2016.
February 15, 2018
Today (February 15th) marks the beginning of the Miami International Boat Show. This 5 day event, located at the Miami Marine Stadium, takes place from February 15th to the 19th from 10am to 6pm. The event is expected to draw more than 100,000 boating and marine enthusiasts from 35 different countries to the area. According to the official website, the attraction will span more than 1 million square feet, offering attendees the opportunity to view and purchase the newest and trendiest items in the boating industry.
February 13, 2018
AirBnB recently announced its hosts are contributing to local and state government coffers with a new and lucrative cash stream. The company released a press release noting that AirBnB collected $45.7 million in tax revenues in 2017. Those taxes were remitted to the Florida Department of Revenue and to the 39 counties that have signed agreements with the company. Of that lump sum, Miami-Dade and Broward counties accounted for 40 percent of the total at $18.3 million. The 2017 tax revenue collection is more than double the numbers recorded in 2016.
February 8, 2018
According to a report from Beauchamp Estates in association with Leslie J. Garfield & Co., ultra-wealthy international buyers are looking to buy luxury real estate in the United States; particularly in South Florida, New York and Los Angeles. According to the managing director at Beauchamp Estates, Gary Hersham, "Miami is a leading hub for overseas buyers investing in U.S. luxury real estate." Miami is a very popular destination for wealthy buyers from South America (Columbia, Brazil, Argentina), Great Britian and the Philippines.
February 5, 2018
Recently, we've begun to see cryptocurrencies such as Bitcoin shake up the real estate market. There have been a number of news stories featuring luxury property owners requesting Bitcoin as the preferred method of purchase. Real estate agents and sellers are also hoping to lure the newly wealthy cryptocurrency investors by touting their Bitcoin-friendly listings. That being said, there are still reservations when it comes to Bitcoin. There are concerns over the currencies' extreme volatility and lack of transparency. Like it or not, cryptocurrencies look like they are here to stay in one form or another, and it is important to have an understanding of how they can be used.
February 1, 2018
According to a newly published report from Attom Data Solutions, home prices in the South Florida area are on the rise. The report, which tracks prices in 112 U.S. metro areas, found that median home prices in Miami, Fort Lauderdale and West Palm Beach went up by 8.9 percent year-over-year in the fourth quarter of 2017.
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