Which area should you invest in Miami?

27 Apr
Which area should you invest in Miami?

The simple answer is: South Beach. South Beach is a popular destination that attracts local and international buyers. The white beaches and pristine waters are a favorite among those who has been here. The popular condos in this area are: The Apogee, The Continuum South, The Continuum North, The Murano Portofino, The Portofino Tower, The Murano Grande and The Icon South Beach.

In South Beach, the average sales price has gone up significantly over the past few years. In 2013, the average sales price was $2.37 million but in 2017, it was $3.03 million. This means that in just 4 years, the market has gone up from $1,205 in 2013 to $1,482 sqft in 2017. That’s a huge mark up in value which is perfect for those buying for an investment.

Downtown Miami is also another area to put into consideration. Surprisingly, non-waterfront condos in this area are doing better than the waterfront condos. Waterfront condos actually saw a drop of price by 8% in the year 2016 – 2017. Non-waterfront condos such as Vizcayne condo, 900 Biscayne and Hyde Midtown condo such as saw an increase of price per square foot which was $395/sqft in 2016 to $432/sqft in 2017.

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Posted by on April 27, 2018 in News


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