The Porsche Design Tower and Fendi Chateau are only a few examples of collaborations between developers and luxury brands to attract money into Miami’s housing market.
According to ABC News, these designer labels have lured wealthy Argentinians, Brazilians, Chinese, Russians, and French.
But these developments are driving up home prices. As managing agent for Redfin Aaron Drucker puts it: “locals are not really part of the party.”
Advertisement
Related Stories
Sales
What the NAR Commissions Settlement Means for Home Builders
The legal settlement will improve transparency during the home sales process, mitigate predatory practices, and help preserve profitability for home builders
Sales
Sales and Texting? Know the Rules
Texting your sales prospects en masse can be an efficient way to get your message through if you follow these best practices
Affordability
Will NAR's Landmark Commissions Settlement Lower Housing Costs?
The $418 million deal changes long-standing rules—written and unwritten—that consumers claim inflated sales commissions for home sellers, including new-home builders