Internationals & Yankees Fuel Fort Lauderdale Condo Surge!

Posted: July 26, 2018 | Source: www.sun-sentinel.com

Tax refugees from states such as New York, Connecticut and California plus internationals looking for safer investments and luxury vacation homes are fueling a homes and condos sales and price surge in Fort Lauderdale. Officials at Douglas Elliman Real Estate report median price increases for Fort Lauderdale luxury condos ($1 million and higher) of 9.8 percent to $1.29 million and single-family homes up 35 percent to $2.265 million. The number of South Florida condo sales over $1 million increased by 45 percent between the second quarter of 2017 and 2018. South Florida international buyers are also on the increase reaching 32 percent for Broward County (Fort Lauderdale) condo purchases.