Miami Condo Market


Miami condo market is very diverse and offers a number of different solutions for those who are interested in buying or renting a condo. People from all over the world are attracted to the lively Miami area and its ultimate climate for resettlement. Miami apartments are also popular among tourists and investors. The recent drop in dollar value on the international market has made Miami apartments an even more interesting choice for many Europeans looking for a home outside, a place to retreat or just a good investment.

Location, location, and location – the mantra is a real estate business. This is, of course, true for real estate in Miami. Family houses on the beach are the most popular and inevitably the most expensive. Only by choosing a few blocks from the beach you can save huge amounts of money. Ocean view in Miami is amazing, but certainly not free when we talk about real estate. South Beach is one of the most popular areas in the Miami condo market, not only because of the abundance of the oceans but also its famous nightlife and gastronomic scene.

Another highly respected part of Miami is the fourth Brickell. The Brickell area is commonly referred to as "Wall Street of the South", and condominiums share space with over 60 business banks. This area is usually marked as a stricter and upscale alternative to South Beach; a neighborhood ideal for those who like the city center instead of the sandy beach. The Brickell community is inhabited by people who want to avoid a long journey to work.

In Brickell, it is possible to be close to work as well as entertainment in the city center, yet still living in a relaxed room suitable for recreation. The fact that popular South Beach restaurants begin to set up finials at Brickell is just one of the signs predicting that Brickell will become even more thoughtful for the area in the future. Three years ago it was possible to buy one of the smaller apartments in Brickell for $ 115,000. Today you have to be willing to pay at least $ 200,000 for the same apartment. Brickell flats are still very favorable compared to flats located in Miami Beach. An apartment of the same type with a flat in Miami Beach that was a $ 200,000 apartment in Brickell would cost at least $ 500,000. In such a popular area as Miami, there will naturally be a shortage of suitable places for new flats in the apartment, and the Miami condo market now stretches into the older quarters and even has come to the suburbs. Downtown Miami has recently seen many new changes. Further expansion down Miami Beach is, of course, another extremely lucrative job for Miami real estate developers Miami real estate market shows no signs of cooling, especially not when we discussed the ocean ahead of the property.

If you visit Wynwood, a neighborhood located near the very popular South Beach neighborhood, the recent expansion of the Miami condo market will be very obvious. What used to be a large warehouse and a grocery store are currently transforming into flats, lofts and smaller flats. Wynwood also witnesses a major change in the cultural scene as more and more galleries and private museums are on their way to this new and exciting neighborhood. Wynwood is just one example of how housing develops in almost all remote areas in the Miami area.

Developers in Miami now turn their eyes to Miami's fourth-class working class. Former blue collars such as Little Haiti, Liberty City and Overtown have already flooded their homes. These quarters have become very popular for those who want to own a Miami condo, but they can not afford to pay for oceanfront properties at Miami Beach or get luxury homes like Four Seasons Residences. Those who are still willing to pay for the ocean front condo should look at the South Pointe region. It used to be a rather shady area with high crime rates, and the median family income in 1995 was under $ 8,000. Today this has changed, and apartments in the Southern Pointe are already worth several hundred thousand dollars. Two new larger development projects have been launched that will add 67 and 199 units to the South Point real estate market. The largest project of these two companies is The Continuum North Tower, a unit of 199 units located at the end of South Pointe Drive. The continuation of the North Tower includes properties ranging in size from 1500 to 4000 square meters. Penthouse apartments are even bigger: 7000 square feet. The continuation of the North Tower will not be completed by the end of 2006 or early 2007, but potential buyers have already supported the chance to own a real estate in Miami. The second project, Apogee, is a smaller complex and will consist of 67 flats ranging from 3100 to 6900 feet. The Apogee will be 22 tall stories when it finishes and price search will most likely range from $ 2.5 million. For this price you will not only get a view of the ocean, but high ceilings, modern design, indoor and outdoor grill, etc. Penthouses in Apogee will probably go for at least $ 15 million each. According to some analysts, in the near future one may expect a shortage of available flats in Miami, but it is always difficult to know for sure. Increased growth for Miami condos has triggered a number of development projects. There are currently a number of projects at the end of the project, with the aim of providing a Miami condo market with everything from relatively affordable studio-studio apartments to super-exclusive oceanfront apartments and all imaginable amenities. When the price began to increase even for the smallest flats, the Miami condamine market is inevitably open to the development of a large number of exclusive luxury flats. When buyers are forced to pay more and more money for a small yard, they want to feel that they get the ultimate quality of money in terms of style and content. Installing exclusive features, such as a jacuzzi, will still have a marginal impact on the price of the apartment. At Miami Beach most of the price is determined with plenty of place after the property. Some of the most expensive apartments in the Miami condo market today can be found in the Miami Four Season Residences. In 2005, this condominium complex offered condos for a price of under $ 700,000 and up to $ 6 million. Many of these suites are modernly decorated in an elegant European style and have access to wine and cigar saloons, health center, exclusive halls and other selected facilities.

Florida is a popular state in which it lives, but no other city in Florida has had the same remarkable rise in flats over the last few years as Miami. Some potential buyers are hoping that prices will fall when all projects are finally solved. The premises show that more than 50,000 apartments will be added to the Miami condo market over the next 10 years. In the city center of Miami, the 35-story residential estate called Avenue is planned to be completed in 2007 and will add 570 flats to the Miami condo market.

Avenue is located on more than 70 other development condos in the area. One of the major projects in Brickell, Brickell Village, is believed to be completed by the end of 2006, and will then provide Brickell neighborhoods with a large number of new luxury flats. This could cause price stabilization in Brickell, but do not count on it. The ending of two more major projects in the Crickell region, Plaza and Neo Lofts, has not led to a drop in prices – on the contrary.