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Developers creeping back into South Florida as demand for rentals increases!

Two respected Palm Beach County -based homebuilders are planning new rental communities in South Florida. The moves are a further sign that developers are tiptoeing back into the housing market.

Kolter Group LLC has dusted off plans to build a rental community near Lake Worth. In addition, Ram Development Co. of Palm Beach Gardens is scouring South Florida for apartment sites.

Kolter will build a 204-unit garden apartment complex on U.S. 441, north of Lantana Road. The complex, dubbed Woodwinds, will consist of one-, two- and three-bedroom apartments. Rental prices have not yet been set but they will be around $1.10 per square foot for the units, which are expected to start at $750 square feet for the one-bedroom units, said Bob Vail, Kolter vice president.

The move comes as Kolter has decided to build 4001 North Ocean, a condominium on State Road A1A, just north of Gulf Stream. 4001 North Ocean is the first newly planned condominium in the county since the real-estate bust, and it may be the first newly planned condo in the Southeast United States. The project will consist of 34 condos and four villas, with prices ranging from $1.4 million to $3 million.
Vail said Woodwinds was approved for development a couple of years ago, but Kolter didn't start building. Instead, the company had the land under contract to an unidentified buyer, who ultimately did not close.

With the housing market mired in foreclosures, Kolter began to notice the rising demand for rentals. So the West Palm Beach-based company has decided to develop Woodwinds after all.

While we wait for these properties to materialise why not check out some to the great villas already available to rent in Florida with Bargain Villas.

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Google buy building for $1.9Billion – the biggest U.S. real estate deal of the year!

Google Inc. has signed a contract to buy the building that houses its New York City offices, in a deal that values the property at close to $1.9 billion, according to people familiar with the matter.

The deal for the massive 2.9-million-square-foot property at 111 Eighth Avenue is the biggest for a single building in the U.S. this year.

While the building is located in Manhattan's Chelsea neighborhood—and not one of the city's tony office districts—it is popular with tenants like Nike Inc., the Lifetime cable channel and WebMD, the Web publisher. About one-third of its space is occupied by telecommunication companies.

Google occupies about 500,000 square feet in the building and earlier this fall was reported to be a front-runner in the bidding for the property. The company won partly because it knew the building well and was willing to close the deal before the end of the year, according to people familiar with the matter. While the deal could still fall apart, that is unlikely because the contract is binding and Google has put down a large deposit, these people said.

A spokesman for Google declined to comment.

All well and good if you have unlimited resources - meanwhile, back here on planet earth you can still get the occasional bargain. Why not sample some of the worlds more reasonably priced building like a fabulous Florida Villa or even a sun kissed apartment in the Algarve!

search Bargain Villas for your next cheap holiday villa.

Article source: WSJ Image source mashable