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Canadian and Brazilian Investors Flock to South Florida and the Porsche Design Tower Project

Luxury condominiums such as the new Porsche Design Tower is bringing international investors to Sunny Isles Beach, making it one of the richest stretches of real estate in South Florida

 
 
Ulises_Cicciarelli
Ulises_Cicciarelli
PRLog - Dec. 7, 2012 - SOUTH FLORIDA, Fla. -- SUNNY ISLES BEACH, FL – A growing number of Canadian and Brazilian buyers, who often have financing difficulties when purchasing a home in the U.S., are investing in luxury Sunny Isles Beach real estate with cash purchases. Lawrence Yun, chief economist of the National Association of Realtors®, has stated that the increase in more buyers paying cash for real estate reflected tight lending conditions and an increase in investor sales. NAR research shows that 62% of international purchases were all cash; and that percentage has continually increased since 2007.

“Our US economy is in a state of recovery and investors from stable or strengthening economies, such as Canada and Brazil, are taking advantage of the buying opportunity,” said Ulises Cicciarelli, real estate broker and expert in the Sunny Isles Beach area. “International investors are finding strong foreign currency and discount pricing and this seems to be leading the recovery of oceanfront real estate in South Florida.”  

The Porsche Design Tower, which expands the Porsche Design Studio’s luxury brand into the residential real estate market, is one several new luxury properties calling Sunny Isles Beach home.

Evaluated in US$ 560,000,000, the tower will showcase a one-of-a-kind robotic parking system; allowing owners to have their cars (and themselves) transported, in just 90 seconds, by a glass elevator with panoramic view to their sky garages, directly next to their units. Due to the all glass structure, the vehicles are visible from the inside of the condo.

Ulises Cicciarelli says that, even with list prices currently starting at $4,000,000, more than half of Porsche Design Tower’s 132 units have already been sold.  “Many investors need assistance not only during the purchase process, but also help coordinating remodeling activities and I take pride in providing management of these activities to my clients”, Cicciarelli added.

Units at the Porsche Design Tower will range from 3,800 to 9,500 square feet with the ocean-facing units including a private pool. The project is expected to be completed by 2016.

More information regarding the property is available at
http://prestigeflorida.com/condos/porsche-design-tower-in..., and further details and buying options can be provided by contacting Porsche Design Tower expert Ulises Cicciarelli at (305) 725-3003 or Info@PrestigeFlorida.com  

About Ulises Cicciarelli
Ulises is a South Florida native and a seasoned real estate broker, knowledgeable about all aspects of successfully buying, selling, and renting real estate in South Florida. With a passion for his industry, Ulises Cicciarelli understands and meets each client’s needs, by providing comprehensive services that go from basic market analysis to managing property for absentee owners after closing. Cicciarelli also coordinates multiple related projects, such as managing the remodeling and maintaining properties on behalf of clients. Ulises also offers a concierge service, through which he identifies client needs and connects them with experienced professionals in those identified areas of need. More information can be found at http://prestigeflorida.com.

Photo:
http://www.prlog.org/12038485/1

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Source:Prestige Real Estate Services
Phone:3057253003
Location:South Florida - Florida - United States
Industry:Real Estate, Finance
Tags:Canadian Investors, south florida, porsche design tower
Shortcut:prlog.org/12038485
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