News / Popularity of Luxury Holiday Homes

South Florida’s sunshine and balmy year-round temperatures are legendary. Because the British pound and euro are exceptionally strong, up more that 20 percent, conditions are highly favourable for overseas buyers interested in a holiday flat in Florida.

Developers of The Modern, a new luxury high-rise condominium overlooking the posh Florida resort destination of Palm Beach, encourage overseas buyers to take advantage of the currency exchange discount. “Although nobody has a crystal ball when it comes to the real estate market,� said Tanya Marvin-Horowitz, executive vice president for Trinity 1515, the developer, “because of the strength of the euro and pound, the time to buy a holiday home in the states is now.�

South Florida tops the list of U.S. markets desirable to overseas investors, by far, accounting for an estimated 26 percent of all foreign purchases for the year period that ended in April 2007, according to the (U.S.) National Association of Realtors.

Additionally, markets should be considered area by area. In South Florida, for example, whilst some communities have experienced modest declines, a location with excellent, long-term prospects is amenity-rich Palm Beach County. This up-market destination is a stable community, characterised by optimistic employment possibilities and economic conditions.

-About The Modern-
Scheduled to open in spring 2010, The Modern is a majestic 30-storey glass tower, with breathtaking views of the Atlantic Ocean and barrier island of Palm Beach. The building fronts the picturesque Intracoastal Waterway, which runs the length of the U.S. Atlantic coast from Maine to Miami, and is within minutes of world-famous Worth Avenue shopping and dining, pristine beaches, championship golf and polo, yachting, deep-sea fishing, diving and verdant conservatories.

The Modern will feature 84 exclusive flats priced from USD 3 million and averaging more than 372 square metres (4,000 square feet). Four multi-storey penthouses will have private swimming pools.

Luxury amenities will include a library, card room, media room, certified art storage, and Wine Room, with private climate-controlled wine storage and humidor. Recreational facilities will include a fitness centre; heated infinity-edge swimming pool, with spa and poolside bar; and individual Spa Suites with their own patio for private massage and other services.

- Buying Florida Holiday Home –
The Modern’s distinctive entrance features three impressive waterfalls along the entire façade, which conceal a swimming pool that gives the illusion of a vanishing edge.

Magnificent surrounding gardens will be adorned with Cypress, Palm and Laurel trees; serene reflecting pools, and a multitude of vivid exotic flowers that bloom year-round.

A trio of masterminds are involved with the project including Benjamin Noriega-Ortiz, who created the building’s dramatic public spaces; Scott Salvator, the interior designer responsible for the Signature Home Series residence floor plans; and Mario Nievera, the landscape architect for the property’s lush gardens.

The Modern is developed by Trinity 1515, a joint venture between Trinity Development Group LLC and Stillwater Capital Partners. The Modern will be located at 1515 South Flagler Drive in West Palm Beach, Florida, directly overlooking the barrier island of Palm Beach. To receive more information, please visit www.themodernpalmbeach.com.