{"id":3747581,"date":"2019-08-14T14:21:23","date_gmt":"2019-08-14T18:21:23","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3747581"},"modified":"2019-08-14T14:21:51","modified_gmt":"2019-08-14T18:21:51","slug":"craig-studnicky-principal-of-isg-world-dishes-on-miamis-current-market-trends-how-real-estate-aficionados-can-expect-within-the-next-five-years","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/craig-studnicky-principal-of-isg-world-dishes-on-miamis-current-market-trends-how-real-estate-aficionados-can-expect-within-the-next-five-years\/","title":{"rendered":"Craig Studnicky, Principal of ISG World, Dishes On Miami’s Current Market Trends + What Real Estate Aficionados Can Expect Within The Next Five Years"},"content":{"rendered":"
Real estate is fun and exciting, sometimes intimidating and if you’re not too familiar with market conditions, it can often be an overwhelming topic and industry to venture into. The Magic City, officially known as Miami, is a melting pot of culture and diversity, with a booming art, fashion and luxury scene. While we’ve all heard that Miami has a surplus of product on the market, we sat down with Craig Studnicky, principal of ISG World, who finds that of the 19,868 new developer inventory on the market since 2012, 90 percent has been sold, while the remaining 1,988 new developer inventory on the market is expected to be absorbed by 2020. What exactly does this mean for the future of Miami real estate and how can real estate aficionados look to prepare for the future of the industry? Here’s what we found out.<\/div>\n
<\/div>\n
\n
\"brickell
Reach and Rise at Brickell City Centre<\/figcaption><\/figure>\n<\/div>\n

<\/h3>\n

HR: What is the future of Florida’s real estate market in the next five years?<\/h3>\n
In the next 12 months, most of the unsold developer condo\u00a0inventory from this cycle will be sold.\u00a0In the next 12 –\u00a024 months, most Miami condo developers (i.e.\u00a0Swire Properties, Related Group, PMG) will begin condo pre-sale campaigns for the next cycle.\u00a0The condo inventory, placed on the market in this next cycle, will not be delivered until 2025 at the earliest.\u00a0This means that most buyers of residential real estate, whether a condo or single-family home, will only have the MLS to look to as a source of inventory in the next 5 years.<\/span><\/span><\/span><\/span><\/div>\n

HR: Is there an oversaturation of product?<\/h3>\n
\u00a0<\/span><\/span><\/span><\/span>There are approximately 12 months of resale condo inventory, 6 months of single-family home inventory and 18 months of developer condo inventory for sale.<\/span><\/span><\/span><\/span><\/div>\n

HR: How do developers ensure their product stands out among the rest?<\/h3>\n
Unique architecture and state-of-the-art finishes.\u00a0 \u00a0<\/span><\/span><\/span><\/span><\/div>\n

HR: In your opinion, what are luxury homebuyers looking for in today’s market?<\/h3>\n
In addition to\u00a0outstanding architecture and state-of-the-art finishes, now more than ever, they want a pedestrian-friendly neighborhood experience.<\/span><\/span><\/span><\/span><\/div>\n

HR: Why are people from the Northeast moving to South Florida?<\/h3>\n
People from the northeast have always been enamored with\u00a0South Florida’s great weather and beaches. However, recent changes to federal tax laws have made owning property in Florida more attractive than ever, as theses tax law changes favor states with no state income taxes, like Florida.<\/span><\/span><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

We sat down with Craig Studnicky, principal of ISG World, who finds that of the 19,868 new developer inventory on the market since 2012, 90 percent has been sold, while the remaining 1,988 new developer inventory on the market is expected to be absorbed by 2020. <\/p>\n","protected":false},"author":122,"featured_media":3747609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16468,1,16575,750],"tags":[16828],"class_list":["post-3747581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-city-guide","category-news","category-real-estate","category-real-estate-talk","tag-craig-studnicky"],"acf":[],"yoast_head":"\nCraig Studnicky, Principal of ISG World, Dishes On Miami's Current Market Trends + How Real Estate Aficionados Can Expect Within The Next Five Years<\/title>\n<meta name=\"description\" content=\"We sat down with Craig Studnicky, 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