August 27, 2015
The condo-building spree is continuing in Fort Lauderdale. As prices continue to increase in Miami, home buyers are looking to Fort Lauderdale as a more attractive option. The average new condo price per square foot in Miami is nearly double the average in Fort Lauderdale. The coastal city also boasts pristine beaches, 300 miles of inland waterways and an expanded international airport.
One year ago, there were 12 new condominium developments under construction in Fort Lauderdale. Today, there are 45 new projects under construction. Latin American buyers have long fueled the Miami real estate market, and now, they are expected to similarly purchase new condos in Fort Lauderdale.
“Affluent Latin Americans are realizing that numerous factors that were once thought to exist only in Miami, including a luxury lifestyle, are very much present in the Fort Lauderdale area as well, and can be found at roughly half the price,” said Carlos Rosso, President of the condo division at The Related Group stated.
The Related Group is currently developing Auberge Beach Residences & Spa in Fort Lauderdale. The ultra-exclusive oceanfront project will include 171 condos, with spacious beachfront terraces, gourmet kitchens, private elevators and floor-to-ceiling glass. Select Auberge Beach condos will feature private pools on the wide balconies. The highly anticipated project is set to open in 2017 and is currently 74 percent sold out.
For more information on Fort Lauderdale real estate or to secure an Auberge Beach condominium, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: Mansion Global
