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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 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.
January 18, 2018
According to Forbes, there are currently 51 billionaires living in Florida, with most of them residing in South Florida. Location and climate have always been the big sellers when it comes to luxury real estate, but Miami developers are sweetening the deal with services and amenities you won’t find anywhere else south of Manhattan.
January 15, 2018
Fort Lauderdale’s local economy has continued to grow, and with it, so has the interest in the Fort Lauderdale real estate market. Right now, investor demand and capital availability are set to increase next year, new businesses are opening and job opportunities are on the rise. What’s the cause of this phenomenal rise in Fort Lauderdale’s real estate market? Fort Lauderdale has long held the reputation of being the yachting capital of the world and a very popular tourist destination for affluent travelers. In addition, Fort Lauderdale is quickly becoming a destination for year-round luxury living.
January 8, 2018
Palm Beach's priciest home sales show a market trending upward with the volume of spec building suggests that trend will continue. The gold-plated Palm Beach real estate bubble shows no signs of popping any time soon, as the ultra-wealthy continue to place millions of dollars into the area.
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