Foreign investors have played a major role in the Miami condo market and have emerged as an important element in the Fort Lauderdale condo market, OneWorld Properties CEO Peggy Fucci expressed at a Bisnow Media conference Tuesday.
She was honored to represent OneWorld Properties on a panel, “To Live, Work & Play in Fort Lauderdale,” at the Marriott Harbor Beach Resort & Spa on Fort Lauderdale Beach.
Other participants included keynote speaker Fort Lauderdale Mayor Jack Seiler; Home2Suites Flagler Village investor Dev Motwani, president of Merrimac Ventures; Newgard Development Group CEO Harvey Hernandez; EDENS real estate investment trust Vice President Nicole Shiman; IP Capital Partners Chief Investment Officer Josh Procacci; Tate Capital CEO Jimmy Tate; The Related Group Vice President Patrick Campbell; The Morgan Group Southeast Regional VP Evan Schlecker.
About a quarter of PARAMOUNT Fort Lauderdale Beach buyers are international, Peggy said.
The speakers agreed the city has upside potential driven by job growth, low property taxes and lower prices than in Miami.