News
-
The cooling market of American real estate may derail some trends observed over the first two years of the COVID-19 pandemic. This is good news for many tenants who faced a sharp surge in apartment value because of migrating remote workers. A fresh report from the Florida Atlantic University, the Florida Gulf Coast University, and the University...
Read more -
Residential property markets that were booming during the coronavirus pandemic and experienced a rapid price growth are the most prone to decline in case of a recession. Statistical data shows that this sector has already slowed down considerably this spring, as the increasing interest rates on mortgage loans forced many potential buyers to back...
Read more -
The value of Florida real estate hit a historical high in June. The average price of a residential property grew to USD 416,000 last month, which is 13.4% more than a year earlier. This value keeps increasing although the number of potential buyers is now smaller. The purchasing power of Florida residents is dropping. Statistics show that in June,...
Read more -
According to Paul George, D.Sc. in History, the growing housing value and rental rates, as well as the high inflation are nothing new to Miami. South Florida has survived spikes and drops before. The most impressive boom reached a peak in 1925. The city’s history lends Dr. George a view of the future: “We have seen booms and slumps in the Miami...
Read more -
The project of building a large residential complex along the Miami River was approved by the Miami Urban Development Review Board. River Rapids Partners LLC is planning to build two apartment blocks at 2750 NW South River Drive. The project will feature 593 residential units and 862 parking spaces. A 3.959-acre land plot will replace Paradise...
Read more -
TMZ writes that the parents of Jeff Bezos, the famous American entrepreneur who founded Amazon, purchased a property in Florida. Jackie and Mike (Jeff’s mother and adoptive father) opted for a glamorous mansion in Coral Gables, a town in Miami Dade County. The floor area of this six-bedroom and seven-bathroom residence exceeds 1,100 m2. It cost the...
Read more -
Due to the growing home prices and rising interest rates, many working families in Orlando, Florida, cannot afford to own a house. As a result of this trend, many developers started purchasing land plots and building new districts targeting tenants. The number of residential projects intended for lease is growing throughout Central Florida....
Read more -
The market of rental apartments in Florida has long been the focus of attention for many people coming to this state. However, finding an affordable housing option is often a challenge. A recent study by RentCafe covered almost 99 Florida cities and compared their rental rates. It turned out that Panama City Beach offers the largest apartments...
Read more -
Rosen College of Hospitality Management, College of Medicine, and College of Engineering and Computer Science within the University of Central Florida received $4.5 million in funding to research methods of mitigating the damage to small businesses, tourism, and hospitality from health crises such as the COVID-19 pandemic. The research will be...
Read more -
The hospitality industry in Southwest Florida is trying to fight staffing shortages to provide services to tourists. Hotels offer huge bonuses to new hires. There are, for instance, over 300 openings at hotels and over 1,600 in other hospitality businesses in Fort Myers. Surveys show that over 70% of Americans are planning to go on vacation this...
Read more