Developers Tailor Residences for International Buyers

Overseas buyers continue to purchase second homes in the US, and developers are customizing their projects to appeal to the new international audience. With no slowdown in sight to the influx of global buyers, developers are finding ways to customize the interiors of residential condos to appeal to the international buyers.

26% of 2012 home sales in Florida went to foreign buyers. In Miami, overseas buyers accounted for 60% of residential sales. Due to a large South American influence, Miami developers are focusing on creating modern interiors and balconies large enough to accommodate extended families.

At Faena House, new construction in Miami Beach, developers are referring to the units’ sprawling balconies as “aleros”, a Spanish word for patio. Also, since security is a lesser concern in Miami, many Brazilians purchase and keep their luxury cars in the US. Because of this, many of the newer and proposed luxury condo buildings offer elaborate private garages and services, such as auto elevators at the Porsche Design Tower in Sunny Isles Beach.

Source: The Wall Street Journal

Large Balconies in the Porsche Design Tower

Large Balconies in the Porsche Design Tower

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