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January 4, 2023
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January 4, 2023
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Sellers of South Florida Waterfront Land are Testing the Market

Some sellers have started adjusting their prices while others are seeking outrageous prices

Riccardo RavasinibyRiccardo Ravasini
Molti proprietari americani stanno mettendo in vendita i loro terreni sul mare

Miami - wikimedia

Time: 1 min read

Looking to capitalize on South Florida’s booming waterfront mansion market, sellers of vacant waterfront lots in Miami and Miami Beach are listing their properties for prices that appear to bend reality.

Sellers have been told that many wealthy people are moving from California, Chicago and New York, big CEOs looking for properties like the billionaire Ken Griffin, who paid $106.9 million for a 4-acre Coconut Grove waterfront estate this summer.

But thanks to rising construction costs and timelines dampening demand for vacant lots, more than having a large waterfront lot is needed to entice wealthy buyers currently shopping in Miami-Dade County. For example, land listings with approved plans are more desirable than those without because the approval process in a city like Miami Beach can take so long.

Nobody wants to wait. You need to be a primary homeowner living six months and a day in Florida to have the tax advantage, and, in this case, turnkey-ready properties are preferred.

Some sellers have started adjusting their prices, while others are still seeking “outrageous” prices. We’ll see who is making the best bet.

(source: therealdeal.com)

 

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Riccardo Ravasini

Riccardo Ravasini

Riccardo Ravasini è cresciuto in Italia, dove si è laureato in economia all’Università Bocconi di Milano. Dopo il trasferimento a New York, si è subito fatto affascinare dal settore immobiliare. La passione per il Real Estate unita all’esperienza e alla professionalità acquisita negli anni ha fatto sì che Riccardo sia diventato un punto di riferimento per i suoi clienti sia italiani che americani. Affiliato al network Compass Riccardo oltre che a New York è attivo anche nel mercato immobiliare di Miami. Riccardo Ravasini is a residential real estate agent based in New York City. Since 2008 he has led and managed an array of transactions and consulted a diversity of clients – from young professionals and families to individual investors, estates, corporations and more. In 2013, Riccardo became an active realtor in South Florida; his team offers investment properties in the Miami and Ft. Lauderdale markets to clients from all over the U.S. and the world. Riccardo is a graduate of Bocconi University.

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Editor in Chief:  Giampaolo Pioli   |   English Editor: Grace Russo Bullaro   |   Founded by Stefano Vaccara

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