The High End Condo and Housing Market in Florida Is Still Strong, As Reported By The New York Times

Beach View 

As reported in a New York Times article on October 27,2007,  As Housing in Florida Plummets, the Top Tier of the Market Just Dips, The upper tier of the real estate market in Florida remains relatively immune to the spreading disaster. 

“Houses and Condominiums with price tags of $1 million or more are still changing hands robustly in some of the most exclusive areas, though at a pace less brisk than a year ago.”

The South Florida high end market has several explanation for its buoyancy.  It is partially being fueled by foreign buyers attracted to the United States because of the weak dollar.   Furthermore, second home buyers still find South Florida one of the most desirable places to come and with the high number of affluent baby boomers approaching retirement, South Florida is still a top choice.

Although specific areas and specific oceanfront condos have stronger demand than others, there continues to be an interest and demand for both high end new developments and resales.