It is not a secret that the down peak of the Miami Real Estate’s cycle is here. But even if it sounds like bad news, it is not at all!
Miami real estate has been following a sequence since the early industry boom in the 2000. This means that if we have arrived at the bottom line, it will have a fast bounce soon.
The whole industry has followed the same pattern, but the ultra-luxury houses’ had shown the most drastic impact.
According to Miami Association of Realtors, the foreign investment in South Florida climbed up to $7.1 billion dollars in 2017. That is a significant increase of approximately 15% compared to 2016 where the number was only $6.2 billion dollars. Unsurprisingly, most of the foreign buyers are coming from South America. In fact, the political and economic crisis in the area are pushing the wealthy to park their money into a safer environment.
Here are some quick news about Miami Real Estate
Miami is a growing city with many urban development. Renting price has been soaring up and according to the National Low Income Housing Coalition’s annual report, a minimum wage worker needs to work at least 94.5 hours per week to pay their monthly one bedroom rent.
The affordable housing inventory has been depleted and out of 100 units available, only 26 are rent-friendly for the low wages.
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If you are looking to buy a condo in the Brickell area where all the young crowd are, this list is for you. We are hereby excited to announce the Top 3 most expensive condos for sale based on MLX (February 2018 edition) !
Do you have millions of extra cash that you are willing to invest? Well, Miami is the best place to do so. We are going to go over the top and highlight the Top 3 most expensive condos in South Beach as of February 2018. Here are the condos that made our list: Read the rest of this entry »
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 »
