The EDITION Residences Fort Lauderdale was recently featured in Robb Report article “Branded Residences Are Flooding the Prime Market-and Selling. Touching upon the recent influx of branded residences to the prime real estate market.
Marriott’s Edition is embracing the same approach, with the announcement, last year, of residence-only developments in Fort Lauderdale and Miami. Josh Fluhr, Edition’s senior vice president and global managing director, says such developments are the “ultimate proof point” of a hotel brand’s ability to succeed in the prime-property marketplace. South Florida, he notes, was the logical location for Edition’s first condo-only projects, thanks to its critical mass of deep-pocketed international buyers.
According to Savills, a commercial-real-estate brokerage based in London, the branded residential category has experienced significant growth over the past decade, with a surge of approximately 150 percent. WATG Strategy, a real-estate design firm and consultancy, reports that there are now more than 700 branded residential developments globally, with over 100,000 homes either completed or in the planning stages. This sector is expected to double in size by 2027, driven by a rising number of potential buyers in established locations such as New York, Miami, London, and Dubai, as well as emerging markets like Oman, Poland, and Guyana, as predicted by Savills.
Luxury brands like Armani, Roberto Cavalli, Fendi, Porsche, Bentley, and Aston Martin have entered the lucrative branded residences market, attracting buyers seeking a prestigious “trophy purchase.” These partnerships benefit both the consumer companies and real estate developers, as brand cachet can command premium prices in even the most competitive markets.
Read more from the Robb Report article HERE.