Condo Developers Lure European Buyers with Aesthetics

by Isaac Benmergui, Esq on August 30, 2013

Room w windowsIf you walk through the Brickell development, you might notice a more European feel to your surroundings. At Le Parc, especially, there’s an air of French influence brought through the designs of Ligne Roset and his French furniture. Developer Henry Pino explained it was no accident and that the plan was to appeal to the investor who is looking for such an aesthetic. In the last year, the numbers of that group of discerning investors grew by 5 percent.

As more European buyers arrive with cash in hand, or at least a 50 percent deposit, developers want that European flair in design and services so their properties sell quickly and profits start pouring in.

The decorative flourishes aren’t only attracting the French. Italian and Spanish buyers have been a large percentage of the investors buying up the 128 condos at a 12-story development at 1600 SW First Ave. in Brickell.

Taxes have been on the rise throughout Europe and residents simply want a place to put their money into what they see as a safe investment. Since they pay cash most of the time, there’s no mortgage risk for them. Real estate brokers are seeing an influx of Russian investors as well, who are buying up office buildings and warehouses by outbidding others parties and taking almost 20 percent of the available inventory on the commercial markets.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

 

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