August 24, 2012
One reason luxury waterfront home sales and prices have been up is because of the lack of inventory. This is the time to buy and investors know it. Luxury oceanfront condo inventory is going fast. There is only so much waterfront property to go around. Foreign investors and investors in the U.S. are aware that the luxury oceanfront condo market is dwindling.
Low interest rates, luxury oceanfront condo deals, and lack of inventory are what is motivating this section of the luxury real estate market. Anyone who purchases a luxury beachfront condo today will most likely make a great profit in a matter of a few years. A condo on the beach is also a great location for a third or fourth home.
The median sales price in Palm Beach rose six percent between June 2011 and June 2012, according to the June residential market report from Palm Beach attorney Leslie Robert Evans. Some investors have been purchasing teardowns in Palm Beach with the intention of building new homes.
Full Story: The Palm Beach Post
2100 N. Ocean Blvd. Suite #402, Fort Lauderdale, Fl 33305
Office: +1.954.828.1858 Mobile: +1.954.817.2500 Email: nhiggins@spg.cc
All information displayed on this website is subject to errors, omissions, prior sale or withdrawal without notice. All text, images, graphics, and other materials on this website are subject to copyright and other intellectual property rights of The Seaside Group at Douglas Elliman unless otherwise stated. These materials may not be reproduced, distributed of reposted to print or other websites without the express written permission of The Seaside Group at Douglas Elliman.
DOUGLAS ELLIMAN, LICENSED REAL ESTATE BROKER
All contents © Copyright 2018 Seaside Properties
Group at Douglas
Elliman.
All
rights reserved in All Countries.