By Sunny Isles Real Estate Expert on February 6th, 2010
are one of the nation’s premiere playgrounds for rich and famous and has traditionally sold very well as far as ocean front real estate is concerned. However, the recent economic meltdown (that continues to reverberate through much of the nation), slowed that down somewhat. While the area never suffered the hideous fate that affected most of the US, it did slow. Today, that seems to be a thing of the past.
As an indicator if the area’s increasing health and rebounding economy, Sunny Isles Beach real estate and Bal Harbour real estate has begun to increase in sales frequency. For example, Acqualina Sunny Isles Condos reamin the top seller as well as Turnberry Colony Sunny Isles. However, since the prices have declined somewhat, almost all ocean front condos have recorded recent sales. Condos like Ocean Four, Trump Palace and Trump Royale has also experienced an upswing in the number of units sold. Of course, two properties do not make a marked upswing, or even a viable trend. However, when you throw in the fact that units have sold in Sands Pointe, Pinnacle Sunny Isles, Jade Beach and Jade Ocean Sunny Isles, you begin to see the truth.
While the rest of the nation might be experiencing a minute alleviation of the economic crisis, Bal Harbour condos and Sunny Isles luxury condos are booming once more. However, for those interested in investing in South Florida real estate, the prices for these luxury condos are still very low. You can purchase a high-end residence for a fraction of what it would have cost two years ago. That said, those prices will not last long, as the demand continues to increase and more people flock to the area to take advantage of these deals.
All in all, the economy of Sunny Isles Beach and Bal Harbour is a great place to make a lasting investment in luxury condo real estate. However, that investment is best made quickly, while prices are reasonable.