It’s the third quarter of 2017 and Miami real estate continues to attract buyers from all over the world despite the slowdown last year. A strong dollar and weak foreign economies were the biggest factors for 2016’s sales decrease ( down 25% in the first six months). However, this year seems to be a new chapter. Investors and homeowners are slowly gaining confidence. Let’s take a look at some key-points to better the understand the evolution of the Miami real estate industry. Read the rest of this entry »
Tag Archives: invest in Miami
Statements like ‘the market is going down’ or ‘we’re seeing a market slowdown’ make us wonder about a future crisis but is realty effectively like this?
At the moment the market in Miami is just stable, it’s not collapsing. The volume of sales has decreased but not drastically, I would say that it has just cooled off and it is also considered a sign of solidity.
In the last 15 years the market has gone thru cycles of depression and growth. In Miami we have experienced a great boom over the past 5 years so it’s normal and healthy to go thru a slowdown. The real estate market is more sustainable that way. Read the rest of this entry »
Eighty Seven Park rings the bell of rejuvenation of a once sleepy part of town.
It sounds like Mid-Beach needed the help of Pritzker Prize-winner Renzo Piano to revive. Indeed, Renzo Piano just came up with a 18-story building in the middle of the park located on 87th Street. The Western hemisphere had long been waiting for Renzo Piano to build a residential tower on this side of the planet! Eighty Seven Park is surrounded by the ocean, the park and the trees. Read the rest of this entry »
Sam Tawik, a well-known New York developer, just invested $12 million in the area of Midtown Miami. Indeed he bought 27 apartments in the fabulous condominium 4 Midtown (see picture). If he is investing such an amount there, he must be pretty sure that Midtown Miami will become soon the new Soho.
In the early 60’s artists bought lofts there for at most $50,000 and these properties are now worth $3 million. Tawik values the short term appreciation in Midtown and thinks that the prices of the area will follow the Soho trend. Tawik’s strategy is simple: he is buying units which have highest end user demand and which appreciate in value the quickest. No wonder why he can hope a 35% of return on his investment within 3 years! Read the rest of this entry »
A few months ago, I was glad to tell you that Brazilians were one of the biggest buyers of Miami real estate. They have almost by themselves rescued the market.
Since 2007, the Prime International Residential Index (PIRI) highlights the annual price changes in luxury real estate all around the world. By now, we all know that the market here is getting hotter… However, it is always comforting to get some numbers in front of us. In the 2011 the PIRI, which lists 71 locations worldwide, reports Miami as the third biggest increase in the values of luxury properties. Read the rest of this entry »
In 2014, Miami’s Museum of Science will be relocated in the Museum Park, next to the Miami Art Museum, on Biscayne Boulevard, right next to the AA arena. The construction of the 250,000 sq complex designed by Grimshaw Architects will take around 27 months to be built and will start this February.