is one of the most popular places to live for people looking for condominium properties. According to The Real Deal, Miami Beach real estate has been selling at a very fast rate. At the same time that sales have picked up, the rate of price appreciation has slowed, making the condominiums more accessible to people and ensuring that the market remains attractive to new investors.
The numbers show that investors still see Miami Beach as a great place to buy real estate for value. This is the case, even though the prices of real estate have gone up over the last four years. According to the numbers, that hasn’t slowed interest in properties and, in fact, with prices appreciating more slowly, it is possible that more people will be looking into property in this area and Miami Beach has already proven to be attractive to people from all over the world looking for great property.
According to the article, the sales for condominiums went up 21% from August 2012 to August 2013. Single-family homes saw even more activity, with the closed transactions for single-family homes going up 38% between August 31 of 2012 and August 31 of 2013. That impressive rate of growth, according to the reporting, really does show that people are very interested in Miami real estate.
Where Are They Coming From?
Miami real estate has always been popular with affluent individuals. What’s notable about the situation right now is that Miami real estate is attracting people from all over the world, not just the United States.
This year, French buyers have become a very strong force on the market, as have buyers from Canada. Experts believe that the French buyers are, to a great extent, motivated by the fact that the taxes on wealthy individuals are much lower in Miami than they are in France. Canadian buyers, of course, are, at least in part, looking at Miami real estate because of the very enjoyable climate that it offers.
The highest average price paid for condominium properties went to Apogee in the South of Fifth neighborhood, according to the reporting. This condominium sold for an average of $2371 per square foot.
Luxury properties located in Miami Beach and surrounding areas, such as Sunny Isles Beach, Bal Harbour and other areas known for affluence and great properties are moving quickly and having a good realtor is vital.
In the Miami Beach real estate market, there is most certainly competition for good properties. Being able to find the right property for your family is the first step in calling Miami Beach your home. With experience and the ability to work with people from all over the world, a good Miami Beach realtor will be able to find exactly the property that you are looking for, whether it happens to be a condominium or another type of property, and ensure that you get the best possible deal on the property.