News
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A new mixed-use complex called Sky Building worth $51 million will soon emerge in Oakland Park, approximately 5 km to the north from the Fort Lauderdale metropolitan area in South Florida. The developer NRI Investments signed a purchase & sale contract, a development agreement, and a lease agreement on the land plot of about 4,000 square...
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Construction of the new oceanfront residential project SeaGlass Cove began on Grassy Key, one of the northernmost islands of the archipelago that accommodates Marathon, Florida. Eduardo Otaola, Managing Principal at one of the developers (Constellation Group), notes that many wealthy clients from all over the USA have already expressed interest in...
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The Florida Legislature is now considering bill SB 102. If it is adopted, an unprecedented amount of $711 million will be assigned to the state’s housing-building programs. A donation program for corporations will also be created, under which some tax payments will be channeled to issue low-interest loans for construction of inexpensive apartments....
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California is still No. 1 in the USA by the value of the housing market. The value of residences in this state increased by almost $1 trillion over the year despite a certain slowdown in the market. Florida became No. 2, leaving New York behind. Florida’s metropolitan areas contain 8 out of 10 fastest-growing housing markets nationwide. This...
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According to Redfin, which considers 5% of the area’s most expensive homes by the estimated market value to be luxurious, sales of such properties across the USA reduced by 44.6% year-on-year over the past three months, from early November 2022 to late January 2023. The sales of non-luxury houses dropped by 37.5%. Over the past year, the US...
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Over the past two years, many companies and residents from other US states have been migrating to South Florida, which caused a sharp surge of rentals. Developers did not fail to take this opportunity, ramping up the volumes of new construction, primarily multi-family houses. The demand for apartments reached unprecedented heights, and the rent...
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Many construction projects are being suspended in the south of Florida because of the circumstances unfavourable for developers, such as high interest rates and construction materials costs, as well as exorbitant insurance premiums. Experts report that developers who have no capital of their own are doing zonings and site plan approvals but are not...
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Real estate agents note that about 1,000 people move to Florida every day. All of them are seeking high living standards in a resort ambience all year round amidst palm trees and beaches. There are now fewer houses listed for sale than buyers, and the situation in the market is not likely to change in the nearest future, experts say. According to...
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According to the report by the National Association of Realtors “International Transactions in US Residential Real Estate in 2022”, Florida remains the US leader by the number of foreign property buyers. It accounts for approximately 24% of international sales, which surpasses California’s and Texas’s performance by more than two times. Florida...
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Historically, the richest US neighbourhoods were concentrated within New York and California. Now, however, the value of properties in some Florida areas surpass these indicators. Experts note that Miami, which used to be a place where people came to have fun and sunbathe for a few days, is now an attractive location for living. The lifestyle,...
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