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South Florida Real Estate Blog
Category: Market Updates
Construction Delays Generating Lawsuits at Ritz-Carlton Residences, Miami Beach
May 17, 2018
Since March, three separate civil lawsuits have been filed against the Ritz-Carlton Residences, Miami Beach development group, 4701 North Meridian LLC. The group is a partnership between Lionheart Capital and Elliott Management Corporation. The plaintiffs are suing the developer over the project’s construction delays and are seeking to get their deposits refunded.
My Trip to London for The 2018 Knight Frank Global Residential Conference
May 9, 2018
I recently returned from another fantastic trip “Across the Pond” in London for the 2018 Knight Frank Global Residential Conference. I was able to spend valuable time with my global colleagues from Knight Frank and Douglas Elliman, strengthening our connections, building new relationships and expanding our real estate knowledge with the unified goal of providing our valued clients with the best information and experience in the industry.
Zillow CEO Provides Detailed Look into the Growth of His $10 Billion Company
April 16, 2018
The CEO of Zillow, Spencer Rascoff was recently interviewed by Forbes Magazine, and he shared a detailed look into the strategy that has turned his company into a $10 Billion real estate listing giant. In 2007, after Apple’s announcement that the company would allow third-party apps on the iPhone, Rascoff bet everything on mobile development and compatibility.
Knight Frank and Douglas Elliman Release the 2018 Global Wealth Report
March 23, 2018
Knight Frank and Douglas Elliman recently released the 2018 Global Wealth Report. Now in its 12th year, this annual report provides a global perspective on the movement of wealth around the world and the fluctuations of the world’s luxury residential property markets. It is likely that these fascinating articles may prompt further questions. If so, please feel free to contact us should you like further information or guidance on your luxury real estate portfolio.
Listing Giant Zillow is Now Worth More than $10 Billion
March 15, 2018
After a strong fourth quarter, the real estate giant Zillow posted a record $1 billion in annual revenue, and tallied a $10.5 billion market cap for the first time since the company went public. The Seattle-based tech company's stock continues to soar on Wall Street, surging 10 points since March 1. The forward momentum, reflects growing investor interest in real estate technology, a renewed focus on small- and mid-cap businesses and Wall Street’s widening clarity on Zillow’s overall strategy, analysts said.
Top Ten Countries with the Largest Residential Real Estate Price Gains in 2017
March 5, 2018
Knight Frank released their 2017 4th quarter Global House Price Index, tracking the performance of over 50 mainstream International housing markets around the world. The index is compiled on a quarterly basis using official government statistics or central bank data where available. The index noted residential real estate property prices worldwide went up by an average of 4.6 percent.
Expansion into New Markets Boosted Douglas Elliman's 2017 Earnings
March 1, 2018
Douglas Elliman’s expansion into new markets paid off in 2017 with a boost in earnings from the previous year. Despite a slower new development market, Elliman earned 7 percent more than in 2016 bringing in $722.3 million in revenue. The brokerage also had a net income of $21.4 million in 2017.
Canadian Buyers Show Increased Activity in South Florida Residential Real Estate
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.
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