Tariff fears are causing construction costs to surge by up to 20%. Contractors are preemptively increasing prices to offset potential tariffs on materials. The CEO of Related Group, Jon Paul Prez, noted that subcontractors are adding a cushion to their bids, anticipating higher costs due to tariffs. This could add $9,200 to the cost of a typical home, according to a survey from the National Association of Home Builders. Related Group, a major U.S. developer with over 90 projects in development, is experiencing these price hikes across seven of its ongoing projects. Despite the rising costs, the high-end real estate market in Florida remains robust. Related Group recently sold two penthouses for a total of $150 million and is constructing a luxury condo tower that could fetch over $150 million for a mega-mansion in the sky spanning more than 20,000 square feet.
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