SECAUCUS, NJ / ACCESSWIRE / January 5, 2022 / National Realty Investment Advisors (NRIA), a luxury real estate developer throughout the east coast, announces that all signs point to home values continuing to rise in South Florida in 2022.
From California to the New York Islands, low-interest rates and short supply have contributed to a modern real estate boom not seen since 2006, says Anthony Gramuglia, Communications Manager for NRIA.
And with a post-COVID ability to work from anywhere, Florida has seen its real estate market expand exponentially, he says. That makes for a sizzling hot market for home sellers and a rush to purchase for homebuyers.
And that fire doesn't look to be going out anytime soon.
Because of this great migration to Southern Florida, real estate developers like the New Jersey-based NRIA, which builds luxury residential projects, are seeing units in their South Florida luxury developments sell site-unseen, even before construction has started.
"That's not at all unusual right now," says Nicholas Malinosky, Executive Director of Luxury Sales with the Douglas Elliman real estate company and the realtor representing NRIA's Gulf Stream Views, a 14-unit Boynton Beach oceanfront townhouse project.
"It's not just the warm weather that draws migrants from other states to Florida," he says. "Frustrations with COVID-19-related regulations in their home states pushed forward this ‘great Florida migration.'"
NRIA is ramping up the production of residential units to meet this high demand.
"The desire, even the need, for homes and properties in Southern Florida won't be slowing down anytime soon," says Malinosky. "Florida is an outside state. You have that Florida lifestyle where you can be outside in the fresh air, which is important during a pandemic. And you have lower taxes than in New York, New Jersey, and California, where a lot of the buyers are coming from."
Glenn La Mattina, Chief Operating Officer for NRIA, expects the laws of supply and demand to keep the Florida real estate market hot for years to come.
"We are selling as fast as we are building," he says. "These properties sell out quickly. We haven't seen any signs of a slow down, even as other parts of the country cool off. Low taxes, friendly people, great weather...it makes South Florida a hard place not to want to live."
So will 2022 continue to be a hot real estate market in Florida? Anecdotal evidence says "Yes."
"Americans are starting to realize that Florida is no longer just a retirement state," La Mattina says. "It's a destination state."
About NRIA
With a history of over a decade of delivering the highest quality in construction, NRIA, headquartered in Secaucus, New Jersey, has earned its reputation as one of the leading real estate developers in the nation.
For more information about NRIA, visit www.nria.net.
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SOURCE: NRIA
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