It is not a surprise that the Florida’s real estate market isn’t in its best shape today. The market has been facing different barriers that haven’t allowed it to grow as the some years before. In this week’s article I will explain some of the biggest problems that the industry is trying to bear.
1. Climate Change
We have all heard rumors saying that Miami is going to flood under water in a few years. Unfortunately, we have to say, somehow it is not false.
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Tags: condo, condo living, condominium, Dade county, Florida, Miami, Miami condos, Miami Dade, Miami Real Estate, properties, real estate, real estate blog, real estate challenges, real estate market, real estate news, real estate sales, real estate tips, real estate trends, South Beach, tips, trump
According to the public records compiled by Cranespotter, Miami’s real estate has suffered of a downshift that is just now starting to recover.
Out of 350 units over the $5 million dollars that are today on the market, only 6 units are sold per month. And out of this closed deals, 96% of them had to decrease their price for closing. However, the average percentage of reduction is only 5% under the listing price. Investors are just trying to get rid of their South Florida real estate assets.
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Tags: Brickell real estate, condo, condominium, Downtown, Downtown Miami, Florida, housing bubble, Miami, Miami condos, Miami Real Estate, properties, real estate, real estate blog, real estate market, real estate news, real estate sales, real estate trends, South Beach, South Beach real estate, World news
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.
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Tags: Canada, condo, condo living, condoideas, condoideas realty group, condominium, Continuum, Dade county, Downtown, Downtown Miami, Downtown Miami condos, Florida, luxury living, Miami, Miami condos, Miami Dade, Miami Real Estate, properties, real estate, real estate blog, real estate market, real estate tips, real estate trends, South Beach, South Beach real estate, tips, World news
According to the MLS, the home sales year-over-year has fell in May for the Miami-Dade and Broward counties. This is probably due to the increase of median price in properties in these areas. Palm Beach, however, did make an exception with a slight plunge of price which means that their home sales actually increased. Surprisingly, the market which saw an increase of closed sales in April dipped this month.
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Tags: Brickell, Brickell condos, condo, condo living, condominium, Coral Gables, Dade county, Downtown, Downtown Miami, Downtown Miami condos, Downtown Miami real estate, Florida, housing bubble, luxury living, Miami, Miami Beach condos, Miami condos, Miami Dade, miami news, miami preconstruction, Miami Real Estate, midtown miami, Paramount Bay, properties, real estate, real estate blog, real estate market, real estate tips, real estate trends, South Beach, south beach condos, South Beach real estate, tips, Waverly, Yacht club
There is a huge confusion whether the western Venetian island belongs to Miami or the Miami Beach. After all, the zip code seems to apply to Miami Beach but the city belongs to Miami. The western venetian island (which makes up San Marco and Biscayne Island) seems to leaning towards Miami Beach. In fact, the residents themselves are taking action in their own hands by holding petition and collecting signature door-to-door.
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Tags: condo, condo living, condominium, Dade county, Downtown, Florida, luxury living, Miami, Miami condos, Miami Dade, Miami Real Estate, properties, real estate, real estate blog, real estate law, real estate market, real estate tips, real estate trends, South Beach, South Beach real estate, technology and real estate, tips
Downtown Miami has always been overshadowed by its more popular neighbors such as South Beach and Brickell. However, this neighborhood gem is actually one of the fastest growing city in Miami. What was once considered as a strict financial district is gaining huge population increase for families and young professionals. In fact, the population is at an all-time high with an estimated increase of 19% in the next 4 years. In response, the area could potentially have a higher demand for condo accommodation.
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Tags: Brickell, buy vs rent, condo, condo living, condominium, Dade county, Downtown, Downtown Miami, Downtown Miami condos, Florida, luxury living, Miami, Miami condos, Miami Dade, Miami Real Estate, properties, real estate, real estate blog, real estate market, real estate tips, real estate trends, South Beach, south beach condos, South Beach real estate, technology and real estate, tips, Yacht club
Millennials love fashion brand and the fashion brands are aware of this. This is probably why they are taking one step further by building condominiums associated to the brand. The trend can be widely seen especially in Miami where the Miami lifestyle is enviable to most people.
Condominiums associated with high fashion brands enjoy huge publicity and their clientele are established. In fact, they throw lavish party on the announcement of their project and even when they break ground. In this article, we will see a list of this high profile fashion brand condominiums that are taking Miami by storm:
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Tags: Armani condo miami, armani residences, aston martin residence, Brickell, condo, condo living, condominium, Dade county, Downtown, Downtown Miami, Florida, Miami, Miami condos, Miami Dade, missoni baia residences, Porsche tower miami, properties, real estate, real estate blog, real estate law, real estate trends, South Beach, South Beach real estate
Last year, we saw the drop of condo sales in almost all neighborhood except in the Downtown and South Beach area. In Brickell, the sales has dropped by an average of 5% while in Edgewater, it dropped by an average of 9%. This trend has been caused by the high inventory of luxury condos available for sale. In fact, there is currently a four years supply of luxury condos in the market.
This high inventory also contributes to a growing concern to real estate developers. There is a difficulty of selling new pre-construction units. Developers are postponing their projects in hope for a better market. Read the rest of this entry »
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Tags: Brickell, condo living, condominium, Coral Gables, Downtown, Downtown Miami, estates at acqualina condo, Florida, housing bubble, luxury living, Miami, Miami condos, Miami Dade, Miami Real Estate, one river point condo, palazzo della luna condo, pre constructions miami, preconstruction brickell, preconstructions miami, properties, real estate, real estate blog, real estate market, real estate tips, real estate trends, South Beach, South Beach real estate, technology and real estate, una condo, Yacht club
This is hands down one of our favorite articles to write about. Tall ceilings, classy décor, amazing services, it is everyone’s dream to live inside a magnificent palace up in the sky. We are bringing you for a tour of a lifetime.
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) !
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Tags: condo, condo living, condo miami Beach, condoideas, condoideas realty group, condominium, condos in south beach, condos miami, east brickel tower condo, millenium tower residence, most expensive condos in Miami, penthouse condo, real estate
We have a bad news: this might be true. The sales in 2017 real estate market in Miami has been somewhat slow and low. Interest rates are climbing up and the dollar is weakening. Hugh Kelly, an economist stated that there might be a possible recession looming over the US real market.
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Tags: condo, condominium, Florida, Miami, Miami condos, Miami Dade, Miami Real Estate, properties, real estate, real estate blog, South Beach, South Beach real estate