Rating the trends of the economy can be tough, but without fail, the numbers show that real estate and tourism both play hefty roles in South Florida’s steady economy.
While Brazilian buyers have been scooping up property, particularly in downtown Miami, there are a significant number of buyers from Rio de Janeiro and Sao Paulo simply looking for a Miami bargain.
Armed with a stronger-than-ever real currency, Brazilians are the second-largest buyer demographic in Florida after Canadians — but 30 percent of their purchases in Florida are for $99,999 or less, according to data spanning July 2010 to July 2011 that was recently released by Florida Realtors.
Luxury rentals in International City soar with one 10,000 square feet, 12-bedroom villa in Jumeirah for $56,724 a month.
A French-chateau-style mansion in Palm Beach has just hit the market for $74 million, making it the most expensive listing currently in the area.
Las Vegas Realtors say southern Nevada homes sold at a near-record pace during the month of August thanks to high demand among investors.
The Greater Las Vegas Association of Realtors said Thursday that 4,693 homes and condos sold last month, up more than 600 from July numbers. August sales were also up more than 1,000 from the 3,638 homes sold last August.
Former tennis great Pete Sampras has put down his professional racket, but he’s still in the real estate game. He and his actress wife, Bridgette Wilson-Sampras are selling their newly-built, custom estate in the guard gated community in Lake Sherwood, a sub-division of Thousand Oaks, California. The home was placed on the market in March of 2010, and has yet to find a buyer. Now, the price has come down to $19,950,000 in hopes that someone will take the massive property off their hands. In the meantime, property records show that the 14-time Grand Slam-winning tennis ace and the former Miss Teen USA are shacking up with their two kids in a $5.6 million pad at the end of a quiet cul-de-sac in the star-studded Brentwood area of Los Angeles.
Royal Palm Way is often referred to as “Bankers Row” because of the number of financial institutions that do business there. But plenty of that money is pocketed by wealthy landlords.
The street ranks Number 7 on a list of the most expensive streets on which to rent office space, according to a recent study of 40 North American markets prepared by Jones Lang LaSalle, a global real-estate firm headquartered in Chicago.
Agents selling a Newport Coast mansion for $37 million have dropped the name “Villa del Lago” from the property’s promotion as part of a marketing makeover.
The 12.5-acre estate is now being identified in listings by its address alone: 1 Pelican Hill Road North.
The grand 103-room Updown Court estate fought the good fight with a choppy real estate market before its newest price slash to $65 million.
Looking to buy a home in Malibu? Check out these five spectacular properties on the market now!