According to The Miami Herald, luxury is the weapon of choice for Miami developers fighting for buyers.
To outshine equally luxurious opponents, developers are adding whimsical amenities on top of the expected ones. These include cigar lounges, dog walkers, and art by globally prominent artists.
To avoid getting burned in the next bust, they needed to demand that buyers put down more money before closing. To justify the 50 percent deposits that became standard, the new projects would need to be eye-catching,” The Miami Herald reports.
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