Luxury property specialist Marco Tine surveys the condo landscape.
1. This is the best time to buy, especially for cash buyers: “Cash is king, though interest rates are low and will likely stay low in 2021.”
2. The global unload: “Our international clients who own properties are selling now because they still can’t come to the U.S. or conditions are not great in their counties so they need the cash.”
3. You can wait, but not too long: “Prices will be going down a bit more, especially in the Art Deco District of South Beach. We will have more inventory with good prices.”
4. The vaccine should usher in a new world by summer: “The condo market will bounce back as soon as people feel it is safe to fly and borders are once again open.”