Erin Sykes, a real estate expert, describes a stark contrast between Florida's cooling housing market, characterized by declining prices and challenges in condos, and the Northeast's active bidding wars, highlighting regional disparities and the cyclical nature of Florida's real estate market.
Villa Vie Residences plans to launch a residential cruise ship in May 2024, offering cabins starting at $100,000. The ship will circumnavigate the world every 3.5 years, stopping at 425 ports in 147 countries. This new venture aims to compete with existing luxury residential cruise ships like The World, which sells condos annually starting at $2 million. Other companies in the condominium-at-sea market have faced delays and setbacks, but Villa Vie Residences is confident in closing on a ship by the end of this year.
Argentinian soccer legend Lionel Messi is set to join Inter Miami, the MLS club partly owned by David Beckham. Messi already owns at least three multimillion-dollar condos in Sunny Isles Beach, about 12 miles north of South Beach and some 20 miles south of Inter Miami’s home pitch, the DRV PNK Stadium in Fort Lauderdale. He is also said to maintain a vacation home in Ibiza and a couple of places in his Argentine hometown of Rosario.
Home prices in Massachusetts are increasing statewide, but at a slower pace in and around Boston. Prices for single-family homes in the Greater Boston Association of Realtors’ Eastern Middlesex region were down 5.8 percent, while condo prices continued to rise. Steeply higher mortgage rates have caused sales of homes and condos to drop by more than 25 percent across the state in the first quarter. Inventory of single homes and condos were both down more than 16 percent in March from a year earlier. Previously overlooked cities and towns where prices are below $600,000 are seeing eye-popping price appreciation.