Question of the Week: How has the local single-family home buying frenzy created a ripple effect, leading to a boost in luxury condo sales?

Rishi Kapoor, CEO of Location Ventures, explains the trend.

“Right now, the high-end residential market is selling for a premium,” Kapoor says. “As many locals are benefiting from the sale of their estates, we’re seeing buyers who are looking to ‘right-size’ into spacious condos in a boutique building. Many are attracted to the hassle-free lifestyle, with perks such as a 24-hour concierge, comprehensive amenities, and much less upkeep. At Villa Valencia, we are also seeing a change in buyer demands, who are hyper focused on wellness, health tech, ample outdoor space and the opportunity to customize; they are also creating custom home offices. The demand for these attributes are much stronger than the previous market cycle and we believe it will continue, becoming the new standard.”

SFBW Staff
sfbw@lmgfl.com
4 Comments
  • frank papandrea
    Posted at 18:21h, 16 March Reply

    very interesting thanks

  • Steve Lederman
    Posted at 18:21h, 16 March Reply

    Makes perfect sense…

  • Monica St Omer
    Posted at 20:32h, 16 March Reply

    Interesting.

  • Stephen Lazorischak
    Posted at 17:53h, 17 March Reply

    Q3-Q4 should have a significant growth in condo sales when foreign investors come back to Miami after the travel restrictions are lifted.

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