While the condo market and its speculators take a beating, the single family homes will still do very well in Florida. There is just not enough land left, so low is in, while up is dangerous.
At the same time, there is a lack of inventory of super-luxurious homes, said Irving Padron, CEO of Miami-based SOL Sotheby’s International Realty.
“South Florida has become a hot spot for the ultra rich. We have worked with several buyers willing to make offers of well over $20 million on single-family homes,” he said. “Our concern is that there aren’t enough sellers in that price range.”
Single-family homes in general are always expected to increase in value, thanks to the scarcity of land in the region. via bizjournals.com.
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This may be true for the ultra luxurious single family homes… but for the houses under 500k there is rampant speculation and buying by speculators and investors…
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