Fort Lauderdale sees major growth in luxury market

Top 10% of properties outperformed the rest of the market last year

TRD MIAMI /
Sep.September 22, 2014 03:45 PM

Fort Lauderdale’s high-end property market is booming. In the 12 months ending June, the top 10 percent of homes by value outperformed the rest of the Fort Lauderdale’s housing market.

Moreover, square footage values for upmarket condos and townhouses rose 17.5 percent to an average of $477, while the figure for high-end detached houses increased 4.2 percent to an average of $570, according to Elliman data cited by the Financial Times.

“Fort Lauderdale is increasingly popular among high-end buyers, particularly for out-of-towners seeking a second, third or fourth vacation home,” Kelly Charles, senior sales associate at One World Properties, told the newspaper. “The rebound of the South Florida real estate market is spearheaded by sales to foreigners from Argentina, Brazil, Canada, Colombia and England.”

Charles added that a $2.3 billion upgrade of Fort Lauderdale’s airport is key to the soaring luxury market . Recently, airlines have unveiled more than 20 new routes, including direct flights to London, Lima and Scandinavia. [Financial Times]Christopher Cameron


Related Articles

arrow_forward_ios
Dev Motwani, Johnny Allison, and 2401 West Broward Boulevard (Credit: Google Maps)

Dev Motwani nabs loan for Fort Lauderdale project

Bob Gordon with 2401 Solar Plaza Drive (Credit: Redfin)

Political power couple sells Fort Lauderdale home

Kevin R. Kreutzfeld of Premier Estate Properties and 1408 West Lake Drive

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M

22 Isla Bahia Drive and Steven Romaniello

Harbor Beach home sells for $8 million

Niki Higgins of Douglas Elliman and 220 North Compass Drive (Credit: Douglas Elliman and Trulia)

Fort Lauderdale mansion with stock trading room sells for $12M

Renderings of the penthouse and Fredrik Eklund (Credit: Four Seasons Private Residences Fort Lauderdale)

Fredrik Eklund tapped to list $35M PH in Fort Lauderdale

Alan Hooper and 516 Northwest 1st Avenue (Credit: Google Maps)

FATVillage developer buys missing piece for mixed-use project

Bridge Development Partners partner Southeast Region Kevin Carroll and 3233-3303 Southwest 12th Avenue Fort Lauderdale

Bridge Development sells Fort Lauderdale warehouses for $28M

arrow_forward_ios
Loading...