News
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Northlink Capital, a real estate development and investment firm based in New York, purchased a 1.5-acre land plot for $26 million in the Hallandale Beach Opportunity Zone, Florida. The plot is across the street from The Village at Gulfstream Park, a major shopping, entertainment and dining center in South Florida. The Opportunity Zone...
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The Florida housing market is so overheated that real estate agents have to make cold calls to potential sellers and “save” the most promising properties. According to the latest housing report, sales of single-family homes dropped by 19% in May 2022. The reason is not a lack of demand but a shortage of supply. The market currently has a 1.7...
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After several weeks of decline, the average fixed interest rate for a 30-year mortgage increased from 5.30% to 5.51% with the still-high inflation that didn’t reduce even after the interest rates on federal funds were raised. This means that the US Federal Reserve System will probably increase the benchmark borrowing rate again by the end of July...
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Miami became number seven in the USA (and number one in Florida) based on the average monthly rent. This data is quoted in the Waller, Weeks and Johnson Rental Index as of June 2022 compiled by experts from several respected universities and research centers. The study looked at 107 metropolitan areas and their average rental rates. In Miami,...
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The Florida housing market is still hot and this is expected to continue at least until the end of 2022. Early spring is traditionally one of the most active seasons for real estate sales. In March 2022, US home prices increased by 20.9% year-on-year. Florida demonstrated the best performance – 31.4%. Arizona and Tennessee came second and third...
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Both performance indicators and anecdotal evidence confirm a new boom in the Florida hospitality sector this year. For instance, in the first quarter of the current year, the combined number of passengers passing through the International Southeast Florida Airport reached 3,708,480 people. About 1.5 million people visited the Sunshine State this...
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According to a fresh report by Visit Florida, the state’s tourism industry is rebounding. In the first quarter of 2022, Florida was visited by a record-setting number of 36 million people. This is 39.6% more than in the first quarter of 2021, before vaccines became widely available; about 19.3% more than in the same period of 2020, when the...
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The world-famous consulting and audit firm is opening a new office in the Sunshine State. PricewaterhouseCoopers (PwC) signed a nine-year lease contract for the entire 38,409 square feet on the 8th floor of a 10-story office building in Wynwood, Miami. This trendy district famous for its colorful murals by contemporary artists and buzzing nightlife...
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As the coronavirus restrictions are lifted and remote work becomes permanent, many Americans move to places with a more tranquil and relaxed lifestyle and a nice climate, especially to Florida and the Northeast (Pennsylvania and New Jersey). These are the regions with the highest competition in the tenants’ market, according to the data published...
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In June 2022, an opulent mansion on the huge 11-acre land plot on the Florida Panhandle was sold for $25 million – a record-setting high for a single-family home in this region. The buyer, Miramar Holding LLC, is expected to divide the purchase into several luxurious units, each with an access to the beach. There is precious little property left...
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