Adam Redolfi the UHWNI go-to international broker gives us his outlook for 2023 Global Real Estate Market

Source: Ocean Drive — 

With a track record of over a half a billion traded throughout the world in is career Adam Redolfi the leader of Barnes International Realty and Miami’s top French producer has agreed to sit down with us to catch up on the last year of business and deliver us his vision and what to expect in the the year to come in Miami and abroad.

Redolfi has made waves in the industry with his consistent knowledge, and unrelenting vision for his investors . With a keen eye on unwavering commitment to his clientele has quickly became one of the most sought advisor for the UNWI coming from all over the world who appreciate Redolfi’s unique approach to the industry, which blends a real estate technical expertise with a global vision to a future using an economist point of view

It has been quite a year for your industry, as Miami has been the spotlight of the real estate market. Do you see this continuing?

We have experienced in the past two years an incredible historical growth for Miami and it is pretty difficult to anticipate a slowdown on the prime market as the inventory remains stable on most markets and extremely low in the prime market all time high demand especially for waterfront assets.

Miami has reinvented itself to be competitive with the rest of the world in 21 ^st century, thanks to a an increasing demography and favorable fiscal and economic climate. Miami is not only a paradise for remote workers but also a center for technology, drawing top stars from Silicon Valley to its beautiful environment. Miami is in 2023 currently ranked first in terms of tech job expansion within the US. Additionally As with a growing number of hedge funds such as Citadel or Blackstone relocating every month to Miami its headquarters from Chicago to benefit from the favorable tax system and the higher levels of security as the cities they are migrating from but also for the lifestyle the city has to offer

Do you see any slowdown in the current inventory even with higher rates?

Aside from these factors, I see the inventory remain stable for several other reasons — Since the rate drops in 2019 there has been a wave of buyers and investors who took advantage have re-financed and purchased heavily during a time where rates were close to all time lows before spiking a year ago. Now that the rates have gone up exponentially, many of these past buyers are not selling even if they have a big gain potential by selling as they don’t wish to let go of a rate they will probably not see these low rates again in decades and would not know what to buy next as the choice is now very limited and the interest higher.