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Monthly Archives: November 2012

Miami Real Estate market saved by the Latin Americans !

20TRDSF11122We already talked about how influent are the Latin Americans investors in the Miami real estate market. Let me remind you that they represent 35% of the buyers in Florida. We can say without doubt that they succeed to keep the market alive and to absorb the inventory.

Let’s try to understand where their powerful buying power is coming from. The first explanation is that their strong currency pushes them to invest abroad. In addition, the Floridian market is still less expensive than European or Latin American markets. In these regions good areas are in excessive demand meaning that the prices are increasing. That’s how, in 2011, the price per sqft for a waterfront property in Brazil was reaching $2-3 K when in Miami, in the Murano Grande for example, it was only $1K/sqft. Read the rest of this entry »

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Posted by on November 30, 2012 in News

 

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Where would I invest in Miami Beach if I were a buyer?

It’s been five months since I moved to Miami, working for Condoideas Realty Group. I’m starting to be familiar with the condos in the South Beach neighborhood. I thought that maybe it would be interesting to share my point of view about some of them.

Let’s start by the Icon South Beach. What I like about this condo are the amenities. They are spectacular: 2 pools, a library, a spa, a massage area, a restaurant and a gym where it’s impossible not to lose weight! The units are spacious and for sure the ones facing the bay are my favorites. The only drawback in this building is that the one bedroom units don’t offer a balcony. If you are thinking about buying a unit at the Icon, the prices start in the mid $600/sqft. The atmosphere is quiet, relax, chic and it seems like everything is made to make your life easier! Read the rest of this entry »

 
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Posted by on November 15, 2012 in News

 

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Welcome to the Hotel Cali-“Florida”

Today, hotel properties are as valuable as condos in the Miami Beach real estate market. However, due to the lack of land and historical preservation laws, it’s almost impossible to build new hotels. So, the trend nowadays for investors is to create value with older hotels. Indeed their strategy is to buy existing hotels and renovate them.

The best renovation example is the SLS hotel (see picture) which opened in June at 1701 Collins in the shell of the former Ritz Plaza. The Gansevoort hotel, located at 2377 Collins has just been bought over by a consortium of investors including Starwood Capital. They are pumping into the existing structure 100 million dollars of renovation and calling it the Perry hotel. The latest renovation project is the Gale South Beach and Regent Hotel which will open in December at 1690 Collins Avenue. Read the rest of this entry »

 
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Posted by on November 9, 2012 in News

 

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Venezolanos Bienvenidos a Miami

Brazilian used to be the number one group of buyers from America Latina in Miami. Indeed the flourishing Brazilian economy is stimulating the purchase power of Brazilian investors thanks to tax breaks and low interest rates.

However, lately Venezuelans surpassed Brazilians. A great indicator of this trend is the furniture market. They are reporting an incredible increase of Venezuelan purchases. And who buys furniture without buying a condo ?

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Posted by on November 2, 2012 in News

 

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