Luxury Condos Will Have to Offer More in '16. Here's Why.
The new year is fast approaching, and Dezer Development CEO Gil Dezer, who will be a speaker at our 4th annual South Florida Residential Development Forum on Dec. 3, tells us that the existing supply of luxury condominium inventory will continue the trend upwards in 2016, as we're seeing toward the end of 2015. "What will happen in 2016, specifically in new construction, is that the buyer will be increasingly focused on what truly sets a building apart," he says.
Namely, Gil continues, buyer will focus on: Who's the architect? Is there a brand connected to the building? What are the amenities? Does the developer have a proven track record or is this a new venture for them? "In short, it’ll be even more of a niche business, with oceanfront still leading as a preference,” he says. Snapped: The Dezervator at the Gil Development's Porsche Design Tower Miami, an automobile elevator system. Come hear more prognostications about the market at our South Florida Residential Development Forum on Dec. 3 at 8am at the Miami InterContinental. Sign up here.