MG Developer Hosts South Florida Real Estate Market Panel

19 December 2022

The event featured Miami’s top real estate agents and brokers in MG’s newest sales gallery, The Village at Coral Gables

MG Developer, the most active developer in Coral Gables, hosted a panel including some of South Florida’s top luxury realtors, alongside moderator, Chiquinquira Delgado, actress and TV host, to discuss their experiences and strategies in South Florida’s hot and rapidly changing real estate market.

The panel included, Karen Elmir, CEO of The Elmir Group, Angel Nicolas, Founder and Principal Agent of The Nicolas Group at Compass and Oscar Teran, Principal of The Oscar Teran Group.

Panelists shared their insight and experiences about how the real estate market has evolved within their agencies, in addition to some of the strategic tactics they use to overcome some of the challenges from the pandemic, hike in interest rates, the war in Ukraine, the current economy, as well as how it affected South Florida. Including the pandemic-fueled growth and need for real estate and the insatiable demand within the destination.

“This is a new Miami,” said Elmir “There are major companies coming in from New York that are looking for homes for their employees that are driving demand and absorbing new construction. In the past two years alone, neighborhoods like the Miami Design District have been transformed by people that have literally come from all over the world.”

Panelists also revealed that some of the most attractive investments in Miami today are Airbnb’s, spec homes in good locations as well as affordable multifamily buildings.

Miami continues to be a major draw for sophisticated audiences across states like New York, Chicago, and California because it does not have a state income tax, there are far lower Covid restrictions, Miami has warm weather all year round, it has a great cultural, culinary and art scene. And now, it also has a booming “tech industry”.

“People are not looking at South Florida to be in the party scene, they are coming to Miami to raise their families and they’re moving to Coral Gables, Coconut Grove, Pinecrest and South Miami,” said Nicolas.

The event was held at MG Developer’s newest showroom, for the Village at Coral Gables, a new 48 luxury residence enclave, spread amongst an expansive 17-lot area bordered by Malaga Avenue, Santander Avenue, Segovia Street and Hernando Street. When completed in the 4th quarter of 2024, it will comprise of townhomes, villas, lofts and flats that range in size, from 1,750 square feet to 3,100 square feet. Inspired by George Merrick’s seven villages, The Village at Coral Gables, will be built in a Mediterranean Revival-Style Architecture, designed by De La Guardia Victoria Architects & Urbanists. The exclusive broker for The Village at Coral Gables is One Sotheby’s International Realty, for more information.