Thursday, November 21, 2024

Luxuri: How South Florida Real Estate Has Stayed Resilient During Troubling Times

Luxuri: How South Florida Real Estate Has Stayed Resilient During Troubling Times

The world was still reeling from supply chain issues caused by a global pandemic when, in February of 2022, Russia launched a full-scale invasion of neighboring Ukraine. The ensuing energy crisis portends financial doom as Russia cut off much of its natural gas and oil supply to the European Union, which, as of last year, was the world’s largest single market area.

Meanwhile, in China, local government financing vehicles (LGFVs) are teetering on the brink of an unprecedented default, with gargantuan debt figures equivalent to nearly half of China’s total GDP. The ramifications of this would be enormous, as these LGFVs exclusively fund Chinese infrastructure, development, and even some industry. Some analysts are going so far as to call this China’s Lehman moment.

Combine this with spiraling inflation and the global economy seems to be circling potential disaster. Now more than ever, people are looking for safe returns on their money that can actually outpace inflation. That investment vehicle may just be real estate. Over the course of American history, one of the most reliable money makers has been real estate, especially in premium markets. Even after the 2008-09 Great Recession, where a collapse in the mortgage derivatives market caused a cascade of economic disaster, real estate still made a superb, if eventual, rebound.

As the United States has been faring better than the rest of the world during these times of economic uncertainty, the American housing market is relatively inviting. As a microcosm of this general interest, in recent years, the South Florida housing market has seen unparalleled growth. As of September of this year, median home prices in Miami-Dade county were up almost 25 percent compared to last year. Even with the devastation caused by Hurricane Ian, the South Florida housing market seems hardly impacted.

To understand why Miami has been so resilient during difficult times, it is necessary to examine market leaders. One pioneer behind the real estate boom is Luxuri. Luxuri, based largely in Miami, consists of a property management division, brokerage, and vacation rental concierge service. They have garnered much attention as many real estate investors have flocked to their services. Luxuri has cracked how to get the highest returns on luxury real estate, which involves the utilization of the property as short-term vacation rental space. With strong investor positioning, the Luxuri team has the most highly sought after homes listed on their website.

Like many highly-profitable businesses these days, Luxuri has implemented vertical integration across its holdings. With a team of expert realtors, as well as consultants, Luxuri advises all of their clients with anything they need assistance on. The company has seen so much success they are already planning forays into other American real estate spaces, such as Los Angeles, California and Aspen, Colorado. As a result of the expansion, it seems likely Luxuri can promote those local housing markets and bring with them the market resilience that characterizes their presence in South Florida. With international buyers flocking to the North American housing market seeking a safer place to offload their savings, Luxuri is poised to prosper.

To read more on Luxuri, you can visit their website by clicking here.