News
-
In 2022, the Florida Legislature passed a series of laws that concern almost 1.5 million condominiums across the state and 28,000 homeowner associations that are authorized to control real estate. The changes include strict rules regulating the composition of multi-family houses, timelines of conducting structural inspections, as well as budget and...
Read more -
Not all experts are ready to share specific forecasts for 2023, but some conclusions about the past year are already feasible. For instance, Florida Realtors calculated that the value of residential properties in Florida increased by 17.27% over the past year, according to data from Zillow. This is the highest growth nationwide. In December, the...
Read more -
Florida was attracting millionaires wanting to settle in a low-tax territory even before the pandemic. Now the Sunshine State is home to neighbourhoods with the country’s most expensive properties, according to a recent report by Bloomberg. Historically, New York and California have been considered “enclaves for the rich” in the USA, but the value...
Read more -
Recent data about US realtors shows that their numbers are growing smaller every year. It has reduced in Florida too, but real estate experts forecast that the state’s market will remain extremely active. Jerry Howard, CEO, National Association of Home Builders, emphasizes that last year, Florida’s population grew by 1.9%. Many people are moving...
Read more -
According to a recent US rental growth report by Redfin, the median value of this indicator increased by 2.4% year-on-year nationwide, reaching $1,940 per month. The rent in Tampa, Florida, however, grew by 3.5% and exceeded the level of $2,000 per month. This trend is typical for the entire Florida, where rentals are higher than the national...
Read more -
The famous billionaire financier Ken Griffin has recently moved to Miami and taken the office of his Citadel hedge fund to Florida too. Many other professional investors would like to follow his lead. A recent survey of investors showed that most of them would prefer to move to the sunny Florida, particularly Miami, if they could work from...
Read more -
A wonderful climate and lack of income tax in Florida are not the only reasons why an increasing number of IT firms, including those working for the real estate market, are moving to the Sunshine State. According to Tracxn, the largest startup database, there are already over 50 such enterprises in the Miami area. Adam Mait, Chief Operating...
Read more -
According to the January review of residential property market by the Northeast Florida Association of Realtors, the number of single-family houses listed for sale in this region continues to increase, and prices keep dropping. The median price of such properties was $360,000 in January 2023, which is 2.9% less than a month earlier. After the peak...
Read more -
The demand for build-to-rent housing is expected to remain high in 2023, despite concerns regarding a recession. Brad Hunter, President at Hunter Housing Economics, notes a certain decline of activity in the rental market at the moment because people are afraid of the forthcoming crisis. Market players may have to make mutual concessions. Rents are...
Read more -
The Real Deal agency analyzed rental data on Redfin and Realtor.com and compiled a ranking of 10 most expensive properties for rent. Most of them are located on the oceanfront in Miami-Dade, Broward, and Palm Beach Counties. Almost all are single-family houses. The asking rent ranges from $225,000 to $350,000 per month. Dozens of homeowners are...
Read more