Broward County is noted for its hot market in real estate industry. It is already known as the destination not just for its beach but also for investment because of its luxury real estate properties.
Topix reports that "as a destination for luxury real estate, Broward County is often overshadowed by Miami" in the past. But things have changed for the last 5 years.
Broward Palm Beach says there have been new real estate developments that came forth all over the county. It has been noted that wealthy people are already investing in Broward. New real estate properties have been developed and constructed since the price is considerably inexpensive as compared to Miami.
There is really a big a difference when it comes to the prices. In Miami, the cost per square foot is about $2,400 where as in Broward, investor pays $929 per square foot. No wonder there are already seven new luxury condos that are being built, which obviously have helped reshaped the real estate market in Broward county.
Here are the "the seven luxury skyrises that are reshaping Broward County's real estate market:" Apogee Beach completed in 2013, Beachwalk Resort opened in May 2015, The Gale Boutique Hotel and Residences set to be completed by 2017, Paramount Fort Lauderdale Beach set for completion end of 2016, Riva, Metropica completion date in 2017, and Auberge Beach Residences slated to open in 2017.
Noting that these 7 condos are luxury real estate properties, The Real Deal says that the "Fed's anti-money laundering order could benefit Broward, Palm Beach condo markets."
According to the report, Broward County's condo markets including Palm Beach counties "look poised to benefit from a new anti-money laundering directive from the U.S. Treasury Department that targets all-cash buyers of 'high-end' Miami-Dade residential real estate."
This is because "Broward and Palm Beach have generally offered cheaper real estate alternatives for more value-oriented investors who tend to reside in the United States."
