The combination of a stronger U.S. economy and an increase in interest from international buyers is fueling demand for luxury properties, according to a recent article from RIS Media.
Activity in the $1 million to $2 million tier of the luxury market was very active in 2013 in many luxury markets around the country including Sarasota. Lower inventory levels are creating multiple offers as many buyers compete for the most desirable homes and locations.
Fueling the Luxury Real Estate Market
One of the factors that is fueling the luxury real estate market in Sarasota and Naples is move-up buyers in the United States. Sellers are taking advantage of increased equity in their current home, as well as interest rates that are still at historic lows, to move up to luxury homes within some of Southwest Florida’s most desirable resort communities. According to an article published last week in the Herald Tribune, housing economists predict that the market will rise another 8 to 12% in 2014 before normalizing to a more modest growth in 2015 and beyond.
International buyers from China, Europe, South America, India and Canada are also driving the luxury real estate market. Florida represents one of the most affordable luxury markets, and most desirable lifestyles, in the world. International buyers are investing in luxury real estate in Sarasota and Naples, often with all cash transactions.
Tips for Buying Luxury Real Estate in Florida
Despite the strongest demand for Southwest Florida luxury real estate in more than five years, there are intelligent options for buyers who are looking for luxury real estate for a vacation home, a future retirement home, or a full-time residence. An active market means that home builders are building new homes in some of the areas most prestigious locations, and that means more choices.
For luxury real estate, new homes offer several advantages:
Personalized design: A new home offers more customization opportunities to create a distinctive home that’s intuitively designed for your lifestyle.
Preferred status: Instead of competing with multiple buyers for the most desirable locations, you can enjoy preferred selection of homes, locations, and lifestyle amenities.
Concierge service: Enjoy the benefits of an experienced, elite team of professionals to oversee every detail of your new home transaction, design, and construction.
As the premiere luxury home builder in Naples and Sarasota, our portfolio of distinctive homes in some of Southwest Florida’s most prestigious locations are designed for buyers with uncompromising tastes. From low-maintenance golf villas to expansive custom estates, we offer Private Label Living that encompasses architectural design and lifestyle amenities. Download our brochure for more information about Private Label Living.