Condo Resale Values at Aventura Close to 2006 Prices

By Sunny Isles Real Estate Expert on March 22nd, 2015

Aventura condos for sale

If you’ve been wondering about the prices for condos at Aventura, then you are not alone. It seems that the resale prices for the units are starting to move toward the levels they were at during the height of the real estate boom back in 2006.

Now and Then

In 2014, buyers were paying an average of $255 per square foot for the units they bought at Aventura. They bought more than 1250 condos during the year, with around 105 units selling each month. This is similar to the levels in 2006 when the average price per square foot was $291. People bought fewer condos during the year – just 700 or around 57 a month. After those units hit that top dollar spot at the height of the last real estate cycle, they dropped – as did many condos in the area. The price dropped to around $174 per square foot when the market bottomed out fully in 2010.

However, since that low, things have been climbing back steadily year over year. In 2011, they sold 1,270 units, or 160 monthly, at a price of $175 per square foot. In 2012, they moved 1,360 units, or 114 monthly. These were selling at $198 per square foot. 2013 saw fewer sales at 1,335, or 111 condos a month. However, the price did go up again. It was selling at $243 per square foot. Now, the sales from 2014 were even better. It took some time, but things are now really on the upswing for the condos.

This is great news for those who own condos in Aventura, as well as those who are looking to buy. The price for the units is sure to go up, and the demand is increasing as well. Even though there are a number of new options on the market, with new towers being completed all the time, resale units are important. There is a growing demand for homes in the Miami area.

The State of the Area Today

Currently, Aventura has around ten months of inventory available – This generally means that it is a buyer’s market. The ideal number of units to have equals a six month inventory. If there is less than that, it means that it’s a seller’s market. If there are more, as is currently the case, it means that there are more sellers than buyers, making it a buyer’s market. This should certainly be good news for anyone who is considering buying property in the area right now.

Developers are even announcing additional units in the area thanks to the 13 new condo towers that are going up in the coming years. This will add an additional 2,100 units to the area. Given the fact that there are more towers and units available today, it’s remarkable that the prices are still going up. This is a testament to the popularity of the area. Now, it is only a matter of time before the prices actually surpass those of 2006.

Come Aboard the Yacht Life with Marina Palms

By Sunny Isles Real Estate Expert on November 19th, 2013

Marina Palms Aventura Preconstruction

Marina Palms Condos

Yachting is more than just a great way to spend your free time. For most people, yachting is a way of life and with Marina Palms, it is possible to live your life the way you want to. The new preconstruction condo in Aventura is just the place for anyone who enjoys spending time on the water. The two-tower construction provides plenty of living space while on shore and the slip you need while your yacht is in the dock. Take advantage of the more than 750 feet of waterfront space with our unique condominium and yacht club combination.

A Great Place for Your Yacht

There are 112 slips providing you with a perfect place to dock your yacht while you are on shore. Your yacht is protected by our full-time dock master and the 24-hour surveillance offered. When you are ready to take your yacht out on the water, you can refuel using the handy fueling services and even stock up the pantry from the well-equipped sundry store. Each slip has the ability to accommodate boats up to 90 feet to make sure your yacht is able to stay secure. Are you planning on having guests on the yacht while at dock? You can take advantage of the high-speed Internet and cable TV available on the dock. Can you even think of a better way to watch a football game?

A Great Place on Land

Since you do have to spend some time on land (you do, don’t you?), the Marina Palms offers you 468 luxury residences to choose from. The two towers take up more than 14 acres and 750 linear feet of waterfront to create the perfect place to live. If you purchase a unit overlooking the marina, you will be able to watch your boat even while you are in your home.
Marina Palms offers secure garage parking for all residents. The gated entry means you are able to enjoy heightened safety for you and your family. Each of the spacious, well-appointed residences will have you torn as to whether you like it better on your yacht on in your home.

The building offers every resident access to the billiards table and bar to relax while on shore. Take advantage of the clubroom for you and your friends and enjoy watching the 100”+ television. It is just the kind of thing when you are trying not to think about being on the ocean. Daily newspaper service is also available through the news café. If you own a dog, Marina Palms is friendly to pets, making you feel welcome in all aspects of your new home.

Professionals appreciate the presence of the conference room attached to the business lounge. It is a great way to have a meeting on your home turf. Since Marina Palms is not very far away from everything, your business associates will not have to drive far. They will also start wondering how they can get a house like yours.

Twin Towers Offer Luxury at Echo Aventura

By Sunny Isles Real Estate Expert on September 28th, 2013

Echo Aventura Condo For Sale

Echo Aventura condo

Sophisticated lifestyles are the focus of the new Echo Aventura. This luxurious new addition on the Intracoastal Waterway is set to inhabit the last five acres available. Pre-construction phase has already been receiving a lot of buzz thanks to the fact this is a collaborative effort between renowned architect Carlos Ott and famed interior designer Yabu Pushelberg. Set at 188th and Intracoastal Waterway, it is easy to see how this Aventura preconstruction real estate project is going to be the destination for many of those who enjoy sophisticated living.

About the Building

Echo Aventura Condo

is comprised of 190 luxury residences in two 11-story towers. There are 18 penthouse properties available as well as access to private rooftop terraces and plunge pools. Both of the entrances boast a porte-cochere style to welcome guests. If you are thinking about throwing a party, you have access to the atrium event and function room. The space, accessible by way of a glass elevator, features floor-to-ceiling windows and a private rooftop garden.

This is the latest smart building constructed with smartphone access in every residence and throughout the building. The private elevators provide access to all luxury residences, but the 4,000 square foot fitness center is accessible by all residents. This state of the art facility includes a gym and yoga room for use by all residents and perfect for holding fitness or yoga classes. The infinity-edge swimming pool offers a view of the bay and ocean for enjoyable relaxation. Residents even have access to cooled private storage spaces.

Residence Features

Each apartment at Echo Aventura has been designed by Yabu Pushelberg to provide the sophisticated touch you would expect in a luxury home. Views from the floor to ceiling windows allow you to take in the ocean or city depending on which residence you live in. Each residence features modern amenities in the kitchen and bathroom to provide convenience and comfort you would expect of such luxury residences. Balconies offer residents a place to relax and enjoy the view of the water or city even more.

Convenient Location

On top of all the luxury within Echo Aventura, the location offers residents something else to be happy with. Both Fort Lauderdale and Miami airports are easily accessible from the central location making it easy for commuters and globe trotters to return home quickly and easily after a long trip. The building is also located close to entertainment, dining and shopping destinations to delight any palate. Located just minutes from the ocean, it is a distinct and modern environment to be enjoyed by all. Leave behind the ordinary and discover the extraordinary living available from this modern new addition.

Echo Aventura is still in the pre-construction phase with prices starting at $1,000,000. Choices of residences are available with different numbers of rooms and floor plans. Take advantage of everything this luxurious new address has to offer by getting in at a price that is sure to go up in value after construction is complete.

Enjoy Water Views at Bellini Aventura on Williams Island

By Sunny Isles Real Estate Expert on September 16th, 2013

Bellini Williams Island

Bellini Aventura Condo

The end of development on Williams Island is in sight with Bellini Aventura on Williams Island. This is the last structure to be built on the island with no more land left for real estate development. The only way something new can be constructed is by tearing down one of the other buildings. Sophia Loren, a resident of the island, even lent her fame as a spokesperson to market the area as “The Florida Riviera”. This new building, offered by developer Martin Z. Margulies, is set to be a luxurious addition to what is already a luxurious address.

Located Close to Everything

Bellini Williams Island

offers access to everything Williams Island has to offer. The amenities and the shops offered on the island are unbelievable. On top of everything the island has to offer, the new condo building is just a short drive from Miami. Close enough to everything, while still being far enough to create a relaxing atmosphere, this is one place more people would like to call home.

Residential Features

The 24-story tower offers 70 units. Every unit has three bedrooms, but utilizes a different floor plan with varying amounts of space. There are three sizes to choose from, including Unit A (2,235 sq. ft.), Unit B (2,608 sq. ft.) and Penthouses (4,974 sq. ft.). All units include lofty ceilings starting at 10 ft. and going up to 12 ft. in the penthouse units. Because of the unique elliptical shape of the building, every unit has multi-directional water views. Wrap around windows are available to accentuate the fact every unit at Bellini Aventura on Williams Island is a corner unit. Glass balconies complete the ability to enjoy the view of water in every direction.

Every unit at Bellini Williams Island condo boasts European cabinetry that goes perfectly with the Bosch dishwasher and Sub-Zero appliances to create an ultra-modern kitchen any foodie will appreciate. The two-zone air conditioning system allows you to control the temperature for better energy efficiency. Spacious bedrooms and bathrooms make you feel right at home.

Building Features

Residents of Bellini Williams Island will enjoy access to all the features of the building. Residents with children will appreciate the children’s game room and lounge providing entertainment for children of all ages. The 24-hour valet, concierge and fully staffed front desk make it quick and easy to access everything Williams Island and Miami have to offer. Relaxing and staying in shape are made easy with an accessible fitness center and sauna. The private elevators and works of art in the public spaces are all just a part of what you can expect at Bellini building.

Pricing for Luxury Living

The price you pay to enjoy such luxury living can range from $950,000 to $3,600,000 depending on the floor plan and the floor the unit is located on. With everything offered to residents, it makes the choice to live in such luxury an easy one to make.

Purchasing a New Pre-Construction Echo Condo in Aventura

By Sunny Isles Real Estate Expert on May 31st, 2013

Echo Aventura Condo

Echo Aventura Precontruction

Still in the pre-construction phase, and partially completed phase, the condos in Echo Aventura are ideally situated to maximize the waterfront views of the Atlantic Ocean and the intercostal waterway. In collaboration between interior designer Yabu Pushelberg and Carlos Ott, this phenomenal new development has quickly made its mark in the area. The condo tower is situated on 188 Street in Aventura Florida, and positioned to look into Dumbfoundling Bay.

The entire project has 190 luxury residences. Each unit is equipped with a home theater, and a private service suite with its own bathroom. Floor plans start at 2365 square feet plus an outside terrace at 553 square feet, with three bedrooms and 4 ½ baths. The largest suite is 4020 square feet plus the outside terrace at 1345 square feet, and four bedrooms and 5 ½ baths.

Property Half Sold Out

Echo Aventura

has sold over half of its available properties even though it was just launched. Every Echo Aventura residence has a sizable water view completely unobstructed due to the phenomenal design. Every residence is designed with an outdoor summer kitchen, a bayside terrace, a midnight bar located in the master suite, extremely high ceilings, and a staff suite from a maid or nanny. Each residence also has immediate access to a private elevator.

The architect cleverly created a pool with an infinity edge that provides phenomenal views of the Atlantic Ocean. The property boasts a beautiful fitness center (4000 square feet), along with two “porte-cochere” (private) entrances. The long and expansive Echo Aventura has 18 jaw-dropping penthouse apartments that feature plunge pools and rooftop terraces.

Situated on five acres of phenomenal waterfront property along the intercostal waterway, the expansive Echo Aventura apartments offers a flow-through living experience with ceiling to floor windows, high tech electronic technology, separate bathrooms, and everything high-end, top-of-the-line.

Residence Features

Each residence has features that include a paneled Subzero refrigerator (side-by-side) Wolf gas stoves (with a customized hood), along with a built-in espresso and coffee machine. In addition, every residential household has a 100+ bottle wine cellar (Subzero) and an oversized soaking tub. The grand master bedroom is constructed with hers and his walk-in closets and a midnight kitchen.

The in-ceiling smart home system is top-of-the-line. It provides high-performance audio sound (five zones). It offers instant synchronization of up to six individual input sources that include satellite/cable, Apple TV, Blu-ray, Xbox/PS3, and any other single source A/V input. The smart home system allows automatic lighting control including dimmer and on/off, along with HVAC control. The residents of the home will have complete control of the entire smart home system interface that is both intuitive and sleek.

The entire project is scheduled to be completed in the summer of 2015. It offers units with two, three, four and five bedrooms. The 11 story property is pet friendly. The local amenities include restaurants and a park within walking distance, along with entertainment and shopping close by. Prices for a private three-bedroom residence begin at just over $1 million.

Call our office today to reserve your unit or to receive additional information – (305) 336-0457

Foreign Capital Is, In Part, Fueling the Sales of Luxury Properties in Miami

By Sunny Isles Real Estate Expert on February 11th, 2013

Miami Beach Condos For Sale

Miami Beach real estate

In the last 12 months, the luxury Miami real estate

has experienced an unprecedented amount of growth. Many individuals interpret this information to mean that the housing market is making a comeback. While the evidence certainly points towards this, what most people do not realize is that foreign capital has become a significant driving force behind the growth of luxury sales in the city.

In particular, prospective buyers from Latin America are flocking to Miami in droves. In a recent fourth quarter report, released by Marcus & Millichap, it was stated that foreign capital from Latin American countries was the single biggest force behind multi-family acquisitions. The growth of the local economy in Miami remains so-so, but according to the report, “expanding access to acquisition debt at low interest rates and rising rents are sustaining investor demand.”

Miami homes

as well as Miami condos in upscale areas of Miami, like Miami Beach, have begun to exchange hands with a first return of roughly 5%. By comparison, similar acquisitions in nearby Coral Gables are producing first year returns in the low 6% range. Another section of the report has this to say on the subject:

“Miami-Dade also continues to cement its stature as a safe haven for Latin American and European capital, and many foreign buyers are stepping up multi-family acquisitions, frequently in all-cash deals.”

However, it is not just interest from Latin American buyers that is fueling growth. Purchases made by buyers from China, India, and Brazil have become quite common. In particular, Brazil and India have become home to individuals with new wealth, which is affording them the opportunities to purchase homes abroad that were not present before. Other buyers are choosing to sink their cash into the Miami waterfront homes as well as the housing market as a whole, creating a safe method of protecting their wealth.

Lawrence Yun, who is the head economist for the National Association of Realtors, stated that 77% of Miami’s high end realty firms had worked with foreign buyers in the last year. In contrast, only 27% of high end realty firms in the United States had worked with foreign buyers in the last year. These levels of interest have been unprecedented. In an effort to protect their privacy, many foreign buyers make their purchases behind the shield of lawyers and limited liability companies.

The prospects for the Miami housing market in 2013 appear to be solid. In addition to the influx of foreign buyers, other factors, such as falling vacancy rates and an increased pace of job growth, have the housing market looking healthier than it has in years. Another exciting component is that an increased number of Latin American based companies are now choosing to make Miami their headquarters. As more and more individuals with buying power begin to transfer their home base to Miami, it is expected to fuel the growth of the housing market even more.

It is going to be exciting to see what 2013 brings this year.

Sunny Isles Beach Market Analysis For Properties Over $1M

By Sunny Isles Real Estate Expert on August 5th, 2012

Sunny Isles Beach Condos For Sale

Sunny Isles real estate

The June Miami real estate data

released by Miami Association of Realtors indicate that the pending sales of condos and single-family homes in Miami rose 22%, compared to the same period in 2011. “Despite low levels of housing inventory in Miami, pending sales activity continue to point to strong future sales,” said Martha Pomares, chairman of the board of the Miami Association of Realtors. “Dwindling supply, coupled with rising contract activity, will continue to drive price appreciation in Miami-Dade.”

Several other factors indicate very strong activity as well as sizable deals taking place. One such deal is the home at 1473 North Ocean Boulevard in Palm Beach was just sold for $41.5 million, making it the largest sale since 2008.

There are many other factors point to a healthier and more stable real estate market. Let’s take Sunny Isles Beach real estate market for example. During the spring of 2012 a combined value of $27.2 million were paid for 10 priciest luxury condos in Sunny Isles Beach, averaging about $750 per square foot. The original asking price for these condos were $31.7 million, which averages to about $870 per square foot. This indicates that the selling price was about 12% off the asking price.

As of August 1, 2012, there are about 30 condos sold and under contract in Sunny Isles Beach above $1 million, making a median asking price of about $680 per square foot. Currently there are only 50 condos actively available in Sunny Isles Beach with a minimum asking price of at least $1 million, making the median asking price of about $750 per square foot. During the second quarter of 2012, more than 50 luxury condos in Sunny Isles Beach were sold with the asking price of at least $1M. There were only 35 units sold in the same period of 2011.

The same is happening for South Beach real estate. The luxury condo resales for the second quarter of 2012 has increased, with a minimum asking price of at least $1 million, to about $570 per square foot, compared to the same period of 2011 where the median price was about $560 per square foot.

However, during the second quarter of 2012 the rental activity in the Sunny Isles Beach market has decreased by about 10% due to diminishing inventory and rising rent prices. In fact, the average rent prices rose to about 18% in Sunny Isles Beach for luxury ocean front condos, in 2012. Tenants leased nearly 215 residential properties in the Sunny Isles Beach market between April and August of 2012 compared to about 235 properties in the second quarter of 2011. A year earlier in 2010, tenants leased nearly 230 residential properties in Sunny Isles Beach. The demand for rental units in Sunny Isles Beach is increasing with the season approaching, but the already low rental inventory is decreasing.

During the last 10 years, 23 new high-rise projects were developed in Sunny Isles Beach with nearly 6,000 apartments. There are currently no developer units as the inventory is completely sold out for all existing high-rises in Sunny Isles.

As of the second quarter of 2012, 9 new luxury towers are scheduled to be built with nearly 470 units.

For more information on new or existing units, please contact Lana Bell at 1.877.368.2318.

Sunny Isle Beach New Constructions

By Sunny Isles Real Estate Expert on July 21st, 2012

Sunny Isles Condos For Sale

New Construction Condos in Sunny Isles Beach Miami Florida

There may have been a time when the housing market throughout the United States has struggled, but that time is over. Now, South Florida is seeing a rise in homes and home construction that is sure to appeal to any buyer interested in the area. Just take a moment to look at Sunny Isle Beach real estate. This greatly sought after area, ideally located on the Atlantic ocean in the North Miami Beach, has quickly become the most desirable area to live in. In fact, according to Forbes magazine, Sunny Isles Beach falls into the top three cities in the world to live in. With its close proximity to the city and its perfect location along the beach, this is a residential area with lots of shops, supermarkets and activities, which makes it the area to move to. Nestled on a strip of beach between the upper scale areas of Golden Beach and Bal Harbour, Sunny Isle Beach is certainly a hot spot.

Nine New Condominiums In Sunny Isles Beach

The best way to see just how hot Sunny Isle Beach is would be to look toward the future. Not just one or two condominiums will soon be built. In fact, nine new condominiums will go up in the near future. Are you looking for luxury living right on the ocean? Then consider one of these luxury condominiums that will soon grace the sandy waters of Sunny Isle Beach:

Porsche Tower
Mansions at Acqualina
400 Sunny Isles
Chateau Beach Residences
• Three new St. Tropez Towers

The Life of Luxury

Anyone knows that condominiums on the beaches of Miami offer the life of luxury. Why not choose to live in a location that is brand new? These new condominiums are sure to offer the very best security from top of the line security and technology to pampering options like spas and saunas.

Sunny Isle Beach itself offers plenty of luxury as well. For the most part, this area has not been discovered like other areas of the coastline. For that reason, the area offers more parks than any other community in the Miami area. This means you will be able to offer a more private life of luxury. You will be able to get away from the busy life of Miami so that you can enjoy beautiful beaches and plenty of open space. Then, when you want, you will just be minutes away from the main areas of Miami. It is like having the best of both worlds!

Choosing South Florida

There are many reasons to choose South Florida for a condominium. This area offers plenty of sunshine and golden beaches. In addition, there is plenty to see and do. The Miami area is the center of activity for Sunny South Florida making it a sought after place to live. Sunny Isle Beach is certainly gaining attention as the best location in the South Florida and Miami area.

Are you ready to choose a top of the line condo with plenty of private beaches? This is just what you can gain from Sunny Isle Beach. There are plans for not one or two condominiums but actually nine different condos that will offer the true life of luxury in the world renown city of Miami. Come home to the sun and sand.

The Miami 2012 Luxury Market Analysis

By Sunny Isles Real Estate Expert on June 15th, 2012

Miami Condos For Sale

South Beach Condos For Sale

The luxury market in South Florida is exploding, with record-breaking residential listings as high as $125 million for the recently-listed former Versace mansion. But with prices that look like those of 2006, some are warning that Miami’s high-end market might be forming another bubble, CNBC reported. It is the type of speculative, largely foreign buyer in South Florida that worries experts. If Europe’s economy collapses, or if global markets fall back into a recession or even slow, the market for Miami’s pricey real estate could collapse overnight. “This is flight to safety for these buyers, an investment decision,” said Jonathan Miller of Miller Samuel Real Estate Appraisers and Consultants. “The question is, how long and how far will it go? Does this create a bubble at the very high end in these specific markets?”

In the meantime, the new condo transactions at the St. Regis Bal Harbour Resort & Residences as well as Mansions at Acqualina are off to a great start. About 170 units have been closed at St. Regis Bal Harbour Resort & Residences totaling more than $623 million in the first seven month of sales! In addition, deposits for about 80 units were collected at Mansions at Acqualina in the first 5 weeks of the sales center being open.

Buyers are purchasing these super-luxury, ultra-exclusive properties at an average $1,500 sq.ft. and paying on average between $1,2M to $13.5M dollars. This is a sure sign of Miami real estate exploding once again with prices breaking all previous records. The properties are up by 20 percent just this year, which even breaks the peak of 2006 year.
“Miami is hot and it’s not just the weather!” said Jack Levin, chairman of the Miami Association of Realtors.

Consider the stats: The lion’s share of Miami’s high-end real estate is now bought by foreigners. In 2010, according to the National Association of Realtors, Florida accounted for more than a quarter of the $82 billion in sales to international buyers.

The average price paid by those buyers was $400,000, against an overall U.S. average of $212,000. Sixty-two percent of international purchases were all cash, a percentage that has been increasing since 2007.

Real-estate economists and brokers say most of the foreigner investors are rich families from Brazil, Argentina, Venezuela and Russia. These families are growing increasingly nervous about threats to their wealth from economies and governments back home and are looking for a safe place to store their cash.

Miami is an ideal location, offering all the safety of the United States with the fun and mildly exotic feel of southern Florida.

In other words, Miami’s boom is not a broad-based market recovery driven by local families needing a home. It’s being fueled by a tiny top slice of super-rich overseas buyer looking for the latest hot investment.

As of the end first quarter in 2012, buyers had purchased nearly 45,000 condos in Miami, Fort Lauderdale and Palm Beach areas. They’ve spent over $22 billion dollars. Currently the developers are proposing at least 32 new condo projects with nearly 6,300 units in each of the tri counties Miami-Date, Broward and Palm Beach.

As of June 2012, nearly 1,300 luxury condos priced at $1 million or more are available for resale in the South Florida market where buyers are purchasing an average of about 75 units monthly between January and May of this year, according to the data.

All Roads Lead To Florida – A Magnet For Global Buyers

By Sunny Isles Real Estate Expert on April 7th, 2012

Miami Real Estate For Sale

Sunny Isles Beach Condos

A thousand years ago it was said that “all roads lead to Rome”. Today, there are real estate buyers from Rome as well as hundreds of other cities around the world are all buying Miami real estate as well as properties in South Florida.

During the most recent 2012 Real Estate and Economic Forecast Conference in Orlando, John Tuccillo, chief economist of Florida realtors, had said “I think we’ll see a steady and stable stream of international sales this year”. The residential demand is up again this year from buyers from Canada, Latin America, Europe and other parts of the world. Lower prices and favorable exchange rates have promoted purchases in Florida.

International buyers are ideal clients. They buy higher priced properties and most of the transactions are all cash, according to studies done in 2011 – Profile of International Home Buyers in Florida, prepared by National Association of Realtors. In fact, 77% of sales professionals reported that they had worked with an international customer in the preceding 12 months, up from 65% in 2010.

“This number may even be lower than the true number, because many foreign buyers do not use their foreign address” said Lana Bell, owner and founder of Sunny Realty. Many foreign buyers have already established residences in Miami and are looking to upgrade. In addition, many companies are relocating to Florida, including job-creating multinational companies, which is another positive factor for Miami’s international market.

According to 2011 survey, Canada is Florida’s top international market, accounting approximately 39% (up from 36%). In contrast, United Kingdom accounts for 7%, German buyers – 5%. The biggest jumps occurred in Latin America, where Brazil’s share of International market rose to 8% and Venezuela’s to 7% (both had been 3% in 2010).

Overall, foreign buyers were likely to purchase in a resort area or in a central city, like Miami. In Miami, Brazil and Russia are leading sources of international buyers, especially for condominium purchases in areas like Sunny Isles Beach, Miami Beach, Hollywood, Hallandale, Aventura and Bal Harbour. In areas like Key Biscayne, we see buyers from Argentina, Peru and Europe.

“Our agency serving buyers from South Africa, Australia, UK, Norway, France, Brazil, Russia, Canada and Latin America”, says Lana Bell, founder and owner of Sunny Realty. “About 85% of our transactions involved a foreign buyer” said Lana. From luxury Miami homes to stunning Sunny Isles Beach condos the real estate in Miami offers more than anywhere else in the world.

Two words sum up Florida’s appeal for international buyers: vacation and value. With its beaches, golf, tennis, shopping, boating and cultural and tourist attractions, Florida has been a global vacation destination for four decades now. Today, Florida also offers excellent value for international buyers compared with vacation destinations in Europe, the Middle East and Latin America.

The 2011 survey found that 41% of foreign buyers purchased a property as a vacation home, 23% intended to rent it, 25% planned a dual use and 6% bought it for a retirement home. While many foreign buyers prefer easy to maintain condos, others buy single family homes and some purchase multiple properties in the same location. “We attract international buyers in many different ways”, says Lana Bell of Sunny Realty. “I speak Russian, but my agents speak Spanish, Portuguese, French, German, Hebrew, so there is never a language barrier between us”.

We can expect a continued pattern of strong activity in the international sector, led by demand from Latin America as well as other emerging markets, according to Lawrence Yun, chief economist of the NAR (National Association of Realtors). Follow the trends in foreign currencies, because exchange rates are definitely a driver for international buyers, and Florida continues to be seen as a desirable place to buy.