News
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According to a new report by Florida Realtors, the number of South Florida residents willing to sell their homes is increasing but the buyers willing to close the deal are getting fewer. This trend is caused by high competition among buyers and a sharp price hike over the past few years. Nevertheless, the value of real estate continues to increase...
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Todd Michael Glaser, a high-end real estate developer born and bred in Miami Beach, has finally achieved his dream and moved to Palm Beach. He purchased a mansion worth USD 23.29 million in this upscale city. The value of a square meter was USD 27,030. The 861.3 m2 property at 125 Via Del Lago was sold by 125 VDL LLC currently managed by Bridget...
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On Wednesday before last, the US Federal Reserve System raised the interest rate by three quarters of a percent with a further increase probably ahead. Nevertheless, many economists concur that we are not going to see any significant growth of mortgage rates now or over the next few months. The recent slowdown in the American real estate market...
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American construction firms are amending their strategies and financial prospects as the consumer demand for residential property changes. It is hard to forecast at the moment whether the growing number of rescinded contracts and the market performance declining to the pre-pandemic level will become a stable trend. The market of residential...
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On the first week of August 2022, a lot happened in the Florida real estate market to draw the attention of the international investors’ community. Read all the highlights below. Kushner and AIMCO announced construction of the tallest tower in Fort Lauderdale Kushner and AIMCO publicized their plans of building the tallest tower in Fort...
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Since the start of the COVID-19 pandemic, Florida has faced a huge inflow of people from California, Illinois, New York, and other US states. The key reasons for moving are: Favorable taxation system. High quality of life. Business-friendly environment. Wide choice of schools. Economic prospects. Experts forecast that over the next...
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The voyage industry is finally rebounding after almost two years of restrictions on cruises – a least-evil solution to prevent the spread of the COVID-19 infection. More and more tourists are booking tickets. According to AAA Travel, cruise bookings almost doubled over the past four weeks compared to the same period last year. Even though the...
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Representatives of South Florida airports expect the number of tourists to return to the pre-pandemic level in the nearest future. For instance, the passenger traffic at the Miami International Airport grew by 18% in June compared to the same period of 2019. “We might downscale our general flight schedule a little this summer but we expect the...
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Back in December 2021, Ron DeSantis, Governor of Florida, suggested assigning USD 50 million from the budget for fiscal year 2022 – 2023 to finance Visit Florida, the state’s official tourism marketing corporation. If this initiative generated early income, he was ready to consider increasing the funding. According to the tourism agency, in the...
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The growing economic uncertainty and higher interest rates in the USA in mid-2022 affected the Miami residential property market as follows: The number of single-family homes sold in Miami reduced by 22.7% compared to last year, down to 430 transactions in June 2022. The number of apartments sold in Miami also dropped by 30.3% compared to the...
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