By Sunny Isles Real Estate Expert on May 28th, 2013
For any investor, retiree, or vacationer hoping to spend significant time in South Beach, there are endless amenities available. The South Beach real estate market is within easy access of deep-sea diving, private plane and yacht charters, water sports, golf, tennis, art and boutique shopping, and year-round gorgeous weather.
are available for jaw-dropping, staggering prices. However, they are not without their beauty, style and an amazing view. Recent sales have fetched in the high $20 and $30 million range.
Buyers from all over the world, especially the Latin American countries, are seeing the advantage of purchasing condos in southeast Florida. These absentee buyers are recognizing the incredible value from some of the available top condos for sale in South Beach. Alternatively, there are many US citizens that are looking to South Beach as a safe haven for their investments.
The Rebounding Real Estate Market
Rebounding from the recent burst bubble in the real estate market, Southeast Florida condominiums are in high demand. The luxury market for South Beach condominiums is hotter than ever. Record prices for condominiums in South Beach are being met every month.
Southeast Florida has experienced over a dozen consecutive months with higher sales and prices on their homes, townhomes and condos. Many developers are seeing the advantage of striking while the iron is hot. Within the last year, more than two dozen preconstruction condos on South Beach have been slated for immediate construction.
Statistics indicate that Asians, Europeans and Latin Americans are representing more than 80% of the new condo purchases in the South Beach area. Many of them are willing to put down large deposits in an effort to scoop up many of the low-price deals still available. The existing condominium market is likely to reach its full capacity no later than the end of next year. Presently, it is experiencing a vacancy rate of less than 8%.
Ideal Real Estate for Speculators
Southern Florida, and especially South Beach, has always been a place where the speculator seeks to find their many riches. Many of these investors recognize the tradition of the bust-boom cycles that happen every few decades in South Florida. The single biggest advantage over the current bust-boom cycle is that most of the investors and speculators are from foreign countries, and are seeking the best place to flood the market with their strong currency.
Many of the Latin American investors are dealing with their country’s government overreach, and political turmoil, which can often make it difficult to maintain a diversified portfolio by keeping assets in the country. Alternatively, purchasing the best condos for sale in South Beach provides the opportunity to rent it out while keeping the asset secured.
offer the perfect safe haven for investors and speculators. As economies continue to collapse around the world, Southeast Florida offers a unique, rich and rewarding investment opportunity. Investors can take advantage of the up-and-coming real estate market, as it rebounds from the US recession of 2007.