WATCH: Panelists discuss the future of Broward’s residential market at TRD’s showcase & forum

Miami /
May.May 01, 2017 04:45 PM

Video by TRD’s Alistair Gardiner

Top brokers and agents touted the stability of Broward County’s residential market during a panel discussion on the market’s future at The Real Deal’s third annual Broward Real Estate Showcase and Forum.

Peggy Fucci, president and CEO of OneWorld Properties, said her firm pushed prices up at Paramount Fort Lauderdale Beach since launching sales three years ago. The sellout for the condo tower when it launched was just over $200 million and it’s now approaching $250 million, she said.

While Broward is attracting its fair share of buyers from the Northeast, foreign buyers from Canada, Brazil, Venezuela and the United Kingdom are also choosing Fort Lauderdale over Miami, according to Paula Silberberg, managing broker of the Fort Lauderdale offices of Douglas Elliman Real Estate. And the waterfront in Broward’s coastal markets is much more affordable than in Miami and Miami Beach, Mike Pappas, president of the Keyes Company, said.

Top Coldwell Banker agent Tim Elmes said the residential real estate market in Broward is “much more stable” than in the Miami area, which has lost property buyers to the more affordable Broward market in recent years. “We’re seeing major money coming from the Northeast,” Elmes said, citing Florida’s lack of income tax. “We’re going to get an extremely disproportionate share of the national wealth over the next couple decades.”

The panel, which was moderated by TRD South Florida Managing Editor Ina Cordle, touched on residential pricing, buyer profiles and sea level rise in Broward County.

To watch the panel in full, check out the above video.

For more videos, visit The Real Deal’s YouTube page


Related Articles

arrow_forward_ios
South Florida contracts increase through the end of 2020. (Getty)

Signed resi contracts up in South Florida in December

Signed resi contracts up in South Florida in December
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)

South Florida’s pandemic-fueled residential market poised for bull run in 2021

South Florida’s pandemic-fueled residential market poised for bull run in 2021
500 Oleander Drive (Douglas Elliman)

Canadian entertainment agency CEO pays record $5M for Hallandale Beach home

Canadian entertainment agency CEO pays record $5M for Hallandale Beach home
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)

Kate Ford’s Palm Beach estate sells for $55M

Kate Ford’s Palm Beach estate sells for $55M
Palm Beach (iStock)

South Florida resi contracts continue growing in November, with Palm Beach in the lead

South Florida resi contracts continue growing in November, with Palm Beach in the lead
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
(iStock)

South Florida October construction starts drop, year-over-year

South Florida October construction starts drop, year-over-year
Jim Carr and Armando Codina, with a rendering of a home

CC Homes launches sales of luxury homes in Southwest Ranches

CC Homes launches sales of luxury homes in Southwest Ranches
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...