Fort Lauderdale Beach Residential Market Surges While Miami Cools, New Report Shows
October 3, 2016
The Fort Lauderdale Beach residential market has remained strong despite the cooldown occurring throughout the Miami market, according to a newly released report.
Interest from South Americans and other traditionally Miami-focused condo buyers in Fort Lauderdale Beach is surging. The Fort Lauderdale Beach area’s asking price rose from $530 per square foot to $623 per square foot over the last 18 months. That average is still significantly less expensive than Miami.
Gale Residences Fort Lauderdale Beach is particularly benefitting from the buyer interest in the area. Our 129-unit luxury residential project under construction at 401 Bayshore Drive in the North Beach Village neighborhood is now 75 percent sold. The Gale is attracting a mix of domestic and international buyers who seek a convergence of value, luxury, location and the ability to live without restrictions.
“The traditional Miami buyer can’t resist the pricing for luxury product in Fort Lauderdale Beach, which is firmly established as a premier residential and hospitality destination along Florida’s coast,” said Newgard Chairman and CEO Harvey Hernandez. “But prices are steadily rising along the beach, so buyers must act quickly before this unprecedented value opportunity disappears.”
The Gale Residences Sales Center is located at 2434 E. Las Olas Blvd. For sales information call 954-888-2841.