April 7, 2020
South Florida commercial real estate remained stable in late 2019. But will it last?

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South Florida commercial real estate remained stable in late 2019. But will it last?

| 2/24/2020

South Florida commercial real estate remained stable in late 2019. But will it last?

The health of the industrial, office and retail market in South Florida stayed relatively steady in late 2019. But will conditions last? Vacancy rates and asking rents dipped for most asset classes in Miami-Dade County while increasing for Broward, according to the Colliers International fourth quarter 2019 reports. An uptick in tourism, the population, wages and jobs is fueling the commercial real estate market. [Source: Miami Herald]

The best real estate markets on earth over the last decade

It’s been quite the decade economically in many parts of the world, and it shows in the values of homes. Home values have more than doubled over the last 10 years in eight countries and territories across the world, according to a New York Times analysis. The analysis ranked places by the percentage increase in home values over the last 10 years, five years, and one year. [Source: The Real Deal]

Tampa Bay area home sales in January outpace U.S. market

The Tampa Bay area’s housing market stayed strong in January, outpacing the national market for year-over-year growth, according to new reports Friday from Florida Realtors. Compared to January 2019, the number of single-family home sales rose 14 percent for the region — 24 percent in Pinellas County, nearly 22 percent in Hernando, 12 percent in Hillsborough and 3 percent in Pasco. [Source: Tampa Bay Times]

Gov. Ron DeSantis announces new housing assistance initiative for veterans of Florida

Governor Ron DeSantis took to the podium at the University of West Florida last week to announce a new initiative to help veterans with housing. The new $8 million-dollar initiative, “Salute our Soldiers Military Housing Loan Program” is to help veterans in the transition process after their active duty, DeSantis says. [Source: WEAR]

Southwest Florida housing market sees increase in sales, decrease in inventory

The Sarasota and Manatee housing market experienced a robust month of sales in January, according to a report from Florida Realtors. Compared to the same month in 2019 when there was a decrease in sales and an increase in inventory, January 2020 saw an increase in sales and a decrease in inventory, a press release says. [Source: ]

STAT OF THE WEEK
20 of 25
According to Climate Central’s list of cities most vulnerable to coastal flooding by 2050, 20 of the top 25 cities are in Florida, with the remaining five being Virginia Beach, VA, Boston, MA, Norfolk, VA, Charleston, SC, and New York, NY (which tops the list). Florida is starting to buy properties in order to raze the land and allow room for rising water before waiting for property damage to occur. [Source: Mortgage Professional America]

ALSO TRENDING:

› 2020 Parade of Homes is here
The premier event for the Sarasota-Manatee home building industry is under way. The 2020 Parade of Homes began Saturday, showcasing 107 model homes scattered throughout seven developments in the two-county region presented by the Manatee-Sarasota Building Industry Association. For potential home buyers, or just browsers, it’s the chance to check out the latest in in-home designs and interior styling, according to the MSBIA.

› Miami board approves 5 major mixed-use, multifamily projects
The Miami Urban Development Review Board approved a slate of mixed-use and multifamily projects that could add nearly 2,000 new apartments and more than 700,000 square feet of office and retail space between the Miami River in downtown Miami and North Miami Avenue in Wynwood.

› Startup winner Tap2Open continues to open doors to customers, and success
When you live in the gated community capital of America — South Florida, that is — and your business involves creating new technology to open those gates, you’ve probably stumbled upon a pretty a good idea. That’s how Tap2Open sees it. The Boca Raton-based company won the real estate vertical at the 2019 Miami Herald Startup Pitch Competition.

› Former quarterback Michael Vick lists South Florida home
Former NFL quarterback Michael Vick and his wife, Kijafa Vick, have listed their 9,280-square-foot home in Plantation for $2.399 million. The property has six bedrooms, six full baths, a gourmet kitchen, media room and a guest house. Outside, there is a custom pool, outdoor kitchen, covered lanai and basketball court.

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