How is the Luxury Market Today?July 25, 2011
Nationally, the luxury housing market has already started to outperform the overall housing market, according to the National Association of Realtors.
It is no secret that Miami offers luxury real estate in prime locations such as Coral Gables, Key Biscayne, Coconut Grove, Miami Beach and many properties include that coveted ocean view with private docks or marina access. And many different studies have predicted that the luxury market will lead the rebound!
In Miami, foreign buyers with stronger currencies are often purchasing and investing in the luxury market as all cash buyers. Brazil is an excellent as the Brazilian real has gained nearly 40 percent against the dollar since 2008. According to Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, “The number of wealthy households in the U.S. and world-wide is almost back to where it was before the downturn.”