Trends in Real Estate 2016 for South Florida

Lorea Thomson
Posted by Lorea Thomson
Updated on
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Published in Market Updates

 

"Emerging Trends in Real Estate” Is the most highly regarded and widely read forecast reports of trends in the real estate industry. “Emerging Trends in Real Estate 2016”, undertaken jointly by Price Waterhouse Coopers (PwC) and the Urban Land Institute (ULI) provides an "outlook on real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues throughout the United States and Canada."

If the “work” component of “live/work/play” is evolving, so is the “live” element -housing.  Global, as well as domestic homebuyers and investors are casting wider nets as they look at U.S. real estate markets. One such investor, at a large international institution, marveled at the number of markets that are suddenly prevalent. South Florida is one area that has remained at the constant forefront since property located on the waterfront abounds with desirability.  

ULI survey shows that six out of ten” gen-Y” respondents expect to live in a detached single-family home in less than five years.  An economist with the national real estate data firm observed that the group would not move to the suburbs of their parents. The attractive suburbs will be "locations that will offer urban and suburban benefits.”  South Florida offers urban benefits, with three international airports within short driving distances to any location nationally or globally, international arts and culture, world-renowned dining and shopping, as well as the beautiful Atlantic Ocean, intracoastal waterways and winding rivers with magnificent residences to call home.  Another investment manager said that “transportation, not affordability or schools” would be key in a world where two-income households are the social norm.  

When one thinks of change in terms of trends or cycles, sometimes, we acknowledge patterns of maturation. Growing families with children and youthful, energetic retirees flooding to the South Florida area. Over the longer term, it means that housing demand will be greater across all residential segments. Economic and demographic factors are influencing the housing market as it deals with issues around providing the type of housing desired by the baby boom generation, aging millennials, and everyone else in between.  

The Jupiter and the surrounding areas, for example, are noticing age segments such as the young, raising families, people the late 40s, and young at hearts who may want community amenities like catered meals, happy hours, shared recreation, such as country club amenities like yachting, golf and tennis.   Communities like Admirals Cove, Ballen Isles, Bears Club, beachfront condominiums as well as other countless communities meet these expectations and desires.  The trend is greater diversity toward demand and supply across different sectors of the housing market, not to mention the migration of housing styles from one target market to another.  

Find the entire "Emerging Trends in Real Estate 2016" click here.  To speak to an experienced and knowledgeable real estate expert in the South Florida area, please contact the real estate professionals at Waterfront Properties and Club Communities via email to Info@wfpcc.com

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