Lake Nona Adds KPMG to Area’s Innovative Collaboration

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Lake Nona – 7,000-acre master planned community within the city limits of Orlando

High Tech Corridor Update……

Just southeast of the Orlando International Airport, transversed by the 417 toll road, sits Lake Nona, one of the Central Florida centers for innovative collaboration occupying a premiere location in the Florida High Tech Corridor.

LIVE FORWARD

Lake Nona is a community of and for the future. Where it’s not about what has happened, but what is happening. Where better opportunities are being created for generations to come. Where aspirations and realities merge in collaborative innovation, and the only limit is your imagination.

http://www.LakeNona.com

Touted as Florida’s first Gigabit community, that is having a fiber network providing Gigabit internet access, all businesses and residences are wired for lightning-fast access to broadband for their devices and entertainment services like streaming movies and watching television. This provides the fastest Internet speeds to more people, ultimately helping to break down the digital divide and being able to recruit Fortune 50 companies as well as more tech-savvy businesses, especially those working on SAAS/DAAS, IoT, data analysis, digital marketing and other industries that want Gigabit internet access.

In 2012, Cisco announced its partnership with the Tavistock Group, developers of the 7,000-acre master planned community within the city limits of Orlando, for sustainable urban development at Lake Nona. This collaboration, the first U.S. iconic Smart+ Connected Community,  advances the community’s vision of becoming a global model and standard for sustainable urban development to connect healthcare and education, real estate, retail and other community services through a Smart digital infrastructure. Lake Nona was conceived to be an integrated city for working, living, learning and playing and is one of the country’s fastest growing communities with more than 12,000 residents and more than 10 million square feet of residential and commercial facilities. Lake Nona is also one of Florida’s largest economic engines with business clusters committed to advancing developments in the areas of sport and human performance, health and well-being, education, and technology.

In addition to being home to world-class research, recreational facilities, a medical city, diverse workspaces, retail centers, entertainment choices and residential options, LakeLake_Nona_Aerotropolis Nona is considered an “Aerotropolis”. Situated adjacent to the Orlando International Airport, there are ample opportunities to easily connect workers, suppliers, executives and goods to the global marketplace.

Earlier this week, the U.S. audit, tax, and advisory firm KPMG broke ground for construction of its $400 million learning, development, and innovation facility in Lake Nona, expecting to hire some 330 people statewide over the next three years. The 55-acre, state-of-the-art campus will feature 800,000 square feet of space for meeting functions, classroom and educational activity and dining facilities. With cutting-edge technology that includes an innovation center that will support training and client engagement, KPMG expects to complete the project by year-end 2019. KPMG was #12 on Fortune’s 100 best companies to work for, where staff is “empowered to continue learning.” Workers spend upwards of 50 hours in training per year on average, and 14,700 have official mentors. KPMG also topped the rankings for the Big 4 public accounting firms.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at www.InvestmentPropertiesNetwork.com

 

 

Luxury Defined 2017 Report Includes South Florida Markets in Top 10

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Luxury Real Estate Market Update……

This month, Christie’s International Real Estate released its annual luxury real estate market report, Luxury Defined: An Insight Into The Luxury Residential Property. Once again, two South Florida markets have made the top 10: Miami, defined as a Global Economic Hub and Jupiter Island for its reputation in the regional second-home market.

Worldwide, the average starting price of a luxury home is $2.1 million. According to the report, cash is not as prevalent as it was a few years ago, particularly in markets such as Miami, where cash-in-hand foreign buyers have waned. New Treasury reporting requirements for overseas buyers that purchase million-dollar-plus properties with cash have become a disincentive for some buyers, as well as overheated house prices have caused cash transactions to drop from 70 percent in 2013 to below 60 percent today. Experts predict that pricing corrections in the market will likely bring buyers — both cash and traditionally financed ones — back into the fold. The report quoted 60% percent of agents stating that the election outcome had little to no impact on their luxury sales to date, although in the South Florida market, nearly half of the HNWIs were sidelining cash until the election was over, and they are now seeing that cash being injected back into the luxury real estate market.

Miami moved down the report’s rankings, from tenth place last year to seventh place in 2017. Price reductions are becoming more commonplace, an influx of new developments, a steep increase in inventory supply, and a decline in luxury sales activity have impacted the market. New construction of luxury condos coupled with a growing resale inventory added a large number of units to the market. When inventory is up and more new construction products are added to the luxury market, it becomes more challenging to sell some of the older product that needs updating or improvements.

In November, the Urban Land Institute held its Miami Condo Symposium for discussions about the current state of the South Florida condo market. Panelists included Jorge Perez, chairman and CEO of the Related Group; Inigo Ardid, co-president of Key International; Ziel Feldman, chairman and founder of HFZ Capital Group; Moishe Mana, president of the Mana Group; and Eliot Spitzer, principal of Spitzer Enterprises.  Perez was quoted as saying that there would be an international demand slowdown for Miami condos, but there is a lot of product to choose from. His company sees having less emphasis in the condo market and thinks the rental market will be stronger in next few years.

The report quotes a four percent drop in international buyers exacerbating issues caused by seller overpricing in the luxury property market. Agents spend a lot of time educating sellers on market conditions, especially when defining the line of demarcation – a seller’s market vs. a buyer’s market.

Some sellers just got tired of having their home on the market, so they drastically cut their list price to get a contract, which in turn, would set a lower benchmark for other comparable listings, creating a new demarcation in the marketplace.

However, well-priced Miami properties are still selling based on existing demand, which remains “significant though diminished”.  Almost 40 percent of all million-dollar-plus sales during 2016 from original asking prices, which leads experts to predict that a great driver of residential real estate sales in 2017 will be appropriate pricing.

Elsewhere in South Florida, two Palm Beach properties made the Top 10 Residential Sales Worldwide, both single-family residences one selling for $85,000,000 and the other slightly cheaper at $77,060,000.  There is only one Florida property, in Palm Beach, that made the current US$100M+ listings worldwide, a single-family residence for $137,000,000.

The report analyzes trends that are shaping the luxury real estate market, factoring in the effects of fluctuations in the global economy, while providing insights into buying behaviors, demographics, and preferences over the past year. After measuring key metrics, including record market sales price, prices per square foot, and percentage of non-local and international buyers, cities were ranked.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com

 

Millennials and Home Ownership

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Home ownership – considered a rite of passage that signaled stability and prosperity. How do Millennials fare with achieving the American dream of owning a home? According to The Millennial Study, a survey conducted by Accel Qualtric, half of Millennials say they own homes, but 88% percent of those who want to buy a home can’t because of debt. Twenty-nine percent say that the economy is the top issue facing their generation. Accel Qualtrics surveyed over 6,000 millennials, Gen Xers and boomers to understand how they’re similar, how they’re different, and how they’re changing.

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According to the Bank of America’s Homebuyers Insight Report, Millennials plan to own a home, and they intend on owning multiple homes throughout their lifetimes.  The survey found that 68 percent of millennials say their current home is merely a stepping stone towards the home they want to end up in, compared with 36 percent of homeowners across all generations. Millennial homeowners see the value in buying early but realize it may mean putting their dream home on hold for now. Their experiences can motivate would-be buyers to purchase sooner. Many Millennials are actively buying homes and that they are pleased with their choice.  Among Millennials who already own a home, 79 percent said their homes are having a positive impact on their long-term financial picture, with 86% percent responding that owning a home is more affordable than renting, reflecting the value the see of home ownership. BofA surveyed 4,906 adults, including 1,268 current homeowners and 435 prospective homeowners for the study.

Better Homes and Gardens conducted a survey of more than 3,200 prospective home buyers to share their thoughts on home improvement spending, the importance of personalization, and technology in home value. The survey shows that while 77% percent of Millennials feel that a home is still a good investment, 35% percent said a lack of down payment was the greatest obstacle to making the dream a reality.  Forty percent of Millennial respondents want to make their home more energy efficient and want a home with personalization – they seek out creative ways to improve the look and feel of their home. Examples of personalization and home individualization include chalkboards, under stair storage, and adding bins and buckets to maximize shelving.

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cropped-investment_properties_network_iconInvestment Properties Network takes a team approach to finding our clients the very best investment opportunities available in the Florida Real Estate market. With offices in Miami and Orlando, we cover the state, thoroughly researching every opportunity we determine is a fit to meet an investor’s criteria. This approach is the key to our success in focusing on international investors, ranging from first-time buyers of residential properties to the experienced investor in commercial and income-producing property. Each client is treated with the same care and attention benefiting from our experience in finding the right real estate investments to suit individual investment needs. Contact us today!  Tel: (305) 306-9353, Email: info@InvestmentPropertiesNetwork.com. Visit us online at  www.InvestmentPropertiesNetwork.com