What was once the desire of the high-end luxury home might be becoming a thing of the past. There are those eternal staples of true luxury homes that will […]
As skyrocketing prices soar above the condo high-rises that dominate the Miami skyline, investors money has receded to more oxygen-rich segments. Though condo sales are slacking, funds continue to pour […]
What was once the desire of the high-end luxury home might be becoming a thing of the past.
There are those eternal staples of true luxury homes that will never fade away. A breathtaking ocean view, lush greens of a PGA Tour golf course, and even the allure of Park Avenue. Then there are those fads that start as a “must have” to show off rich tastes that just fade into memory.
The home theater market has grown 50% since 2010 to almost $1.5 billion. Creating a personal IMAX experience showing first run movies is available for the top 1%, but that might not be enough.
Modern architects are saying that more and more clients are looking for fully immersive virtual reality experiences. Rooms turned into private holo suites where the person can stroll the beaches by day and Paris by night.
On the other end of the house is the shifting ideas of a master suite. It appears that Millennials are more into smaller places but increased privacy. It is not uncommon to see new developers include changing rooms outside the bathroom.
There is a new trend of “accessory apartments.” This is where parents buy a separate studio next to theirs to house this boomerang generation when they return home.
Lastly, the same trend seems to be leading to the possible disappearance of the gourmet, showplace kitchen. With more and more luxury take out services and the uptick of Amazon Prime. Homes will only need to keep the bare necessities.
Many architects are seeing these changes taking place more often than ever before. We will wait and see what the luxury home will look like in the next 5 to 10 years. It might be unrecognizable.
As skyrocketing prices soar above the condo high-rises that dominate the Miami skyline, investors money has receded to more oxygen-rich segments. Though condo sales are slacking, funds continue to pour into the Miami real estate market.
Commercial property seems to be the target rich area as 2016 came to a close and 2017 launches into view.
A recent interview with Alex Zylberglait, the senior vice president in charge of investments for Marcus & Milchap in Miami, exposed his experiences and opinions on this new trend.
Over the last two years, Miami has seen investor funds buying up commercial property grow from over $465 million to $1.75 billion. Although there was a bit of a drop off in 2016, those numbers are still impressive and still show substantial proof of a positive trend.
Luxury condos slowly started saturating the market in 2014 and investors were quick to pick up on this developing asset.
Although commercial sales were slightly lower in 2016 than in 2015, investors are still purchasing steadily. These investors are mainly from South America where they are looking to keep their funds clear from economic recessions and the turmoil in Venezuela.
Zylberglait sees a strong market in 2017 for commercial properties. He did temper his remarks by saying that by late in the year the market could see some slight price correction as economic and political conditions change in the United States.
Even if that is the case, Zylberglait went on with assurance, the equity and strength in the market are deeper than during the last correction. Adding in the maturity of the Miami marketplace, the city is poised to withstand a minor correction.
Going, Going, Gone
UncategorizedWhat was once the desire of the high-end luxury home might be becoming a thing of the past. There are those eternal staples of true luxury homes that will […]
From Condo To Commercial
UncategorizedAs skyrocketing prices soar above the condo high-rises that dominate the Miami skyline, investors money has receded to more oxygen-rich segments. Though condo sales are slacking, funds continue to pour […]