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2019 Wealth Report

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Predicting what the next 12 months have in store for our clients and customers has proved to be an interesting process. The multitude of global, political and economic issues addressed on this page a year ago, continue unresolved and have become increasingly more complex. Nevertheless, we remain optimistic about the year ahead. While there may be challenges, there will also be considerable opportunities as markets shift. In this year’s edition of The Wealth Report we highlight residential and commercial markets across the world that offer opportunities and options for those looking to invest in property. Visit here for more info:  2019 Wealth Report
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Miami home sales spike 51% over last year

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Miami metro home sales in the third quarter jumped 51% from a year ago, according to the Miami Association of Realtors . Home sales, including existing single-family homes and condos, totaled 6,412, up from 4,239 last year. Existing condo sales increased 48%, and single-family home sales went up 47%. Statewide sales for Florida also saw an increase from last year, with single-family homes up 12% and condos up 13%. Nationally, the National Association of Realtors reported home sales fell 0.1% from the second quarter, though they increased 17% from a year earlier. Miami's home sales have increased 13 consecutive quarters dating back to the third quarter 2008, according to the local realtor association. "Strong demand from international buyers is fueling robust sales activity in Miami despite low consumer confidence and high unemployment," association chairman Jack Levine said in a Wednesday release. "Local sales are expected to set a record this year that sho...
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Port to raze warehouses, regain land

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P ort of Miami intends to tear down and relocate or remodel several of its warehouses. “Nearly every warehouse is destined to be knocked down and relocated in the next five years,” said Kevin Lynskey, assistant port director. One warehouse was used by a stevedoring group, two are used by customs, one was an old refrigerated warehouse, and another is the Marine Spill Response Corp.’s facility. The marine spill facility is required at the port to respond to and cleanup a marine spill. “There isn’t a priority list, but almost every one of them we’re going to let [go of] in the next few years,” Mr. Lynskey said. The reasons behind the relocation of each, he said, vary – the stevedoring building is in disrepair, the refrigerated warehouse is no longer used for its original purpose because there are refrigerated shipping containers, the customs buildings are outdated and the marine spill building has six times more space than it needs – but what it comes down to is that as the port...
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