With the preconstruction frenzy going on, let’s take a look at the impact of such new developments in Miami Beach. Indeed, new condo towers arise and progressively impact the condo resale scene. Whether they are called Marea, 321 Ocean, One Ocean, Glass, Faena House, or the Edition they are definitely reshaping Miami Beach’s landscape. The question is: are they truly adding value to the famous district or cannibalizing the current market? Read the rest of this entry »
Monthly Archives: November 2014
Miami condos are becoming more expensive for foreign buyers
It has been a few years since international investors have been the ultimate source of revenue of Miami’s condo market. However, it is getting more and more expensive for them to purchase units in Miami-Dade, Broward and Palm Beach.
The main reason why buying resale units as well as preconstruction condos in Miami is increasingly costly for foreign investors is the strengthening of the US dollar. Added to the booming real estate market in Florida, it leaves international buyers with fewer investment opportunities. Read the rest of this entry »