Location Ventures condo development Villa Valencia was featured in Mansion Global article titled “Major Cities May Still Want to Look to International Buyers”. Discussing tumultuous financial markets and eager sellers drawing investors to global real estate hubs even as local residents head for the outskirts.
From the article:
Between international travel restrictions and the boom in demand for single-family and vacation homes, much of the real estate industry’s recent focus has been set squarely on domestic buyers who have suddenly found themselves in need of more space.
But in certain urban markets with high levels of luxury supply—think New York, Miami, Los Angeles, and London—the current environment also presents an opportunity to court buyers from abroad. This is particularly true of buyers from countries that have already passed the worst of the coronavirus crisis.
Though the market may not be at its low point, some investors are nonetheless treating the current moment as an opportunity to invest in high-end properties at a relative bargain.
“In Miami, we’ve seen an uptick not only from markets like Chicago and New York, but also from Europe and South America,” said Rishi Kapoor, CEO of Location Ventures, a developer based in South Florida. “Towards the middle of May, we started to see interest from some of our feeder markets in Columbia, Mexico and Venezuela, who aren’t comfortable with how their local governments have handled, who have always been interested in Miami and now realized they can make it work as a home base.”
A sense of place. An air of history. A feeling of belonging. No other residential experience in South Florida provides all of this quite like Villa Valencia. In the heart of Coral Gables – a deeply rooted community of exceptional beauty and wonderful people – a unique lifestyle offering is taking shape.
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