The international luxury real estate industry continues to note the hot market in Miami. A recent Bloomberg article discussed the turnaround in the luxury condo market, revived by buyers cash deposits and mortgages. This highlights a lesson learned by developers who were burned in the last crisis.
Today they require a large cash commitment upfront to minimize massive risk. This is a change from 5 years ago when buyers reneged on contracts and high end condos sat unsold as credit markets froze. Today, powerhouse developers like Gil Dezer have chosen to target buyers who are not as financially sensitive in the first place.
His Porsche Design Towers have been described on this blog as an oasis for the super rich, and while the foundation is still being poured 113 of the 132 units have already been sold with buyers placing deposits of 30% in cash. His approach of packing the towers with unique features to attract the interest of the wealthy and requiring more from buyers at the start is a growing trend. The article went on to note that non-beach front luxury towers like One Thousand Museum in Downtown Miami are also leading this charge asking buyers to put down 60%.
Our exclusive development has sold about a third of its 83 units at an average of $1,200 a square foot which is a record for the area. This interesting article explains in more detail about the gorgeous features being baked into these towers for the rich and why Miamis city limits attract wealthy buyers. Please reach out to a One Sothebys International Realty estate agent for further discussion.
The international luxury real estate industry continues to note the hot market in Miami. A recent Bloomberg article discussed the turnaround in the luxury condo market, revived by buyers cash deposits and mortgages. This highlights a lesson learned by developers who were burned in the last crisis. Today they require a large cash commitment upfront to minimize massive risk, a change from 5 years ago when buyers reneged on contracts and high end condos sat unsold as credit markets froze.
ONE Thousand Museum - an exclusive ONE SIR development
Today, powerhouse developers like Gil Dezer have chosen to target buyers who are not as financially sensitive in the first place. His Porsche Design Towers have been described on this blog as an oasis for the super rich, and while the foundation is still being poured 113 of the 132 units have already been sold with buyers placing deposits of 30% in cash. His approach of packing the towers with unique features to attract the interest of the wealthy and requiring more from buyers at the start is a growing trend. The article went on to note that non-beach front luxury towers like One Thousand Museum in Downtown Miami are also leading this charge asking buyers to put down 60%. Our exclusive development has sold about a third of its 83 units at an average of $1,200 a square foot which is a record for the area. This interesting article explains in more detail about the gorgeous features being baked into these towers for the rich and why Miamis city limits attract wealthy buyers. Please reach out to a ONE | Sothebys International Realty estate agent for further discussion.
The international luxury real estate industry continues to note the hot market in Miami. A recent Bloomberg article discussed the turnaround in the luxury condo market, revived by buyers cash deposits and mortgages. This highlights a lesson learned by developers who were burned in the last crisis. Today they require a large cash commitment upfront to minimize massive risk, a change from 5 years ago when buyers reneged on contracts and high end condos sat unsold as credit markets froze.
ONE Thousand Museum - an exclusive ONE SIR development
Today, powerhouse developers like Gil Dezer have chosen to target buyers who are not as financially sensitive in the first place. His Porsche Design Towers have been described on this blog as an oasis for the super rich, and while the foundation is still being poured 113 of the 132 units have already been sold with buyers placing deposits of 30% in cash. His approach of packing the towers with unique features to attract the interest of the wealthy and requiring more from buyers at the start is a growing trend. The article went on to note that non-beach front luxury towers like One Thousand Museum in Downtown Miami are also leading this charge asking buyers to put down 60%. Our exclusive development has sold about a third of its 83 units at an average of $1,200 a square foot which is a record for the area. This interesting article explains in more detail about the gorgeous features being baked into these towers for the rich and why Miamis city limits attract wealthy buyers. Please reach out to a ONE | Sothebys International Realty estate agent for further discussion.
The international luxury real estate industry continues to note the hot market in Miami. A recent Bloomberg article discussed the turnaround in the luxury condo market, revived by buyers cash deposits and mortgages. This highlights a lesson learned by developers who were burned in the last crisis. Today they require a large cash commitment upfront to minimize massive risk, a change from 5 years ago when buyers reneged on contracts and high end condos sat unsold as credit markets froze.
ONE Thousand Museum - an exclusive ONE SIR development
Today, powerhouse developers like Gil Dezer have chosen to target buyers who are not as financially sensitive in the first place. His Porsche Design Towers have been described on this blog as an oasis for the super rich, and while the foundation is still being poured 113 of the 132 units have already been sold with buyers placing deposits of 30% in cash. His approach of packing the towers with unique features to attract the interest of the wealthy and requiring more from buyers at the start is a growing trend. The article went on to note that non-beach front luxury towers like One Thousand Museum in Downtown Miami are also leading this charge asking buyers to put down 60%. Our exclusive development has sold about a third of its 83 units at an average of $1,200 a square foot which is a record for the area. This interesting article explains in more detail about the gorgeous features being baked into these towers for the rich and why Miamis city limits attract wealthy buyers. Please reach out to a ONE | Sothebys International Realty estate agent for further discussion.
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