News
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Cottages at St. Johns, as the off-plan complex is called, is being built by several enterprises. Cottages Holdings supervises the project’s planning and development. Palmer Group acts as the managing partner, while DLP Real Estate Capital was selected as the developer. Group One and FK Architecture are in charge of construction and design. By the...
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This week, a special session devoted to real estate insurance (the second in the current year) will take place in the Florida state legislature. The recently elected Paul Renner, House Speaker, declared that their goal was stabilizing the market and ensuring its growth. Immediate relief, however, should not be expected. Meanwhile many Floridians...
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Residents of all US states continue to visit Florida at record rates, while international tourism still hasn’t quite rebounded to the pre-pandemic level. The marketing agency Visit Florida shared statistics for the 3rd quarter of 2022, which says that 35.1 million tourists visited the state over that time. It is 6.9% more than last year and 8%...
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Orange County Public Works will soon kick off a construction project worth $23.4 million and aimed at improving the capacity of three major retention ponds in Orlo Vista. This will be achieved through vertical expansion – deepening each retention pond by approximately 3 meters and reinforcing their banks. The two currently installed pumping...
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Walt Disney World selected the developer that will build the new affordable residential complex on a land plot of approximately 320,000 square meters in the southwest of Orange County, Florida, only a few miles away from the famous theme parks by Disney – Magic Kingdom and EPCOT. The project will be developed, owned, and operated by The Michaels...
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Despite the high interest rates on loans, construction of new homes in Florida energized due to high rentals and low vacancy rates. Marcus & Millichap, a brokerage firm, reports that the average rent in South Florida reached $2,500 per month in the third quarter of the current year, with less than 5% of accommodation available. The vacancy rate...
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Sales of multi-family residences in Miami-Dade, Broward, and Palm Beach Counties in South Florida were slightly under $5 billion over the first half of 2022. This is an almost record-setting amount, second only to performance in the first half of 2021, according to Cushman & Wakefield, a real estate services firm. The average selling price of...
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The market of rental homes in southern parts of Florida was one of the most active in the USA but higher interest rates on loans pose a threat even to such successful counties as Miami-Dade, Broward, and Palm Beach. Mortgage-financed sales of apartment blocks reduced there. This is happening as the state is rapidly recovering from the coronavirus...
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Over 30 million homes across the USA are not pledged under mortgage loans, which corresponds to 34% of all single-family houses and condominiums. The greatest share of mortgage-free properties was registered in Florida, which also boasts the country’s highest percentage of retirees in the population. Attom, a firm that specializes in real estate...
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West Florida attracts newcomers with tropical beaches, sunny weather all year round, and the lack of state-level taxes, so the number of people willing to purchase a home here remains consistently high. This region is now entering the high season that usually lasts from January through April, although “early birds” start coming in mid-November....
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