Low-interest rates; a robust S&P 500; the appeal of stable assets in a volatile economy; homebuyers leaving tax-burdened Northeastern states to purchase in Florida (no state income tax); and work-from-home and remote-learning policies have all combined to create a robust market for luxury single-family properties.
With global vaccinations rising and unstable political situations around the world, South Florida is seeing an increase in foreign homebuyers. Global buyers are coming here for the vaccine and purchasing property.
Booming sales prices:Palm Beach County single-family median prices increased 19% year-over-year in October 2021, increasing from $420,000 to $500,000. Existing condo median prices increased 12.3% year-over-year, from $211,000 to $237,000.
Low Supply:There are 3.2 months of supply in luxury single-family homes; 3.1 months of supply in luxury condos.
Robust Economy, bolstered by capital from the hundreds of millionaires and dozens of billionaires located in Palm Beach County.
Alba Palm Beach | Central Location in West Palm Beach
Located on North Flager Drive in exclusive West Palm Beach Florida, Alba is right on the intercoastal waterway facing east towards the Ocean.
Situated at a prime oceanfront location, Alba will offer incredible views of the waterway and Palm Beach Island, standing in the first-class neighborhood near downtown and the Marina Yacht Club.
The Florida property investment market can be best characterized by the robust housing activity in Palm Beach County. With limited locations to build affordable luxury condominiums, Alba Palm Beach stands out for its centrality.
Competitive price point and condo unit features
Investors will receive the option to buy one of the Alba units in this one-of-a-kind property with a sales price starting at just over $1.6 million for a large unit.
The 52 unit luxury condominium building will consist of 48 condo units, 2 penthouse units, and 4 townhouse units, all for sale at unbeatable prices for the area.
Complemented by a 3-floor parking garage and top-tier amenities, the central 6.68-acre property is located just meters from the Atlantic Ocean.
Select buyers will have 4 choices of condo residence layouts starting at 2300 sq ft, 4 large 2 floor townhouse selections plus 2 spacious penthouses starting at 3800 sq ft; the distinguished investor can elect the perfect unit for their budget and taste.