Danny's Blog

Miami Becomes a Market for Luxury Buyers

Thursday, August 11, 2016
Tags:   Danny Hertzberg

With the pace of sales having slowed down a bit and a large surplus of inventory, South Florida’s many luxury properties have turned the market into one heavily favoring buyers. In fact, our very own Jill Eber discussed this last month at a panel hosted by the Miami chapter of the Asian Real Estate Association of America, stating that after a five year upward spiral the market “has adjusted and it has become more of a buyers’ market.”

Per Eber, to deal with these changes developers are accordingly changing up their prices and boosting broker commissions in an effort to move more units. She did stress however that these developments are “in no way...like 2008, 2009, and 2010.”

Part of the panel were members of Swire Properties which played a major role in the development in Brickell City Centre’s development. Brickell City Centre is inspired by Hong Kong’s Pacific Place, a series of hotels, office towers, and a shopping center that the company built over twenty years ago. Today, Pacific Place is home to more than 100 luxury shops and boutiques, a quartet of five star hotels, and a condominium. Swire is using the success of Pacific Place to bring the same momentum to Brickell City Centre.

To read the full article on The Real Deal, click here.

This update is brought to you by Miami Beach Realtor Danny Hertzberg, specializing in Miami Beach waterfront homes as well as other Miami Beach listings throughout the barrier island. Contact Danny Hertzberg of The Jills, the number one team in the state of Florida by calling 305-505-1950 for information on properties throughout the barrier island.

 
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