Being a broker of Sunny Realty and providing one of the most used resource for Miami real estate (http://www.sunnyislesmiamirealestate.com/) I’m often asked: “how’s (Miami) real estate these day?”. Unfortunately I can’t just answer this question simply – “good” or “great” or “better”. When I start to explain that Miami basically has the best and worst real estate in the country, people think I’ve gone nuts and trying to sell them a story. However, here is The New York Post recent article By ANDY WANG.

Summer was hardly a vacation for those in the business of selling Miami condos.

“I didnt go to St. Tropez because of this”, says developer Gil Dezer, whose Sunny Isles Beach condo projects include the 384-unit Trump Royale and the three-building, 813-unit Trump Towers.
Dezer reports that he sold more than $100 million in Trump units during June, July and August ($50 million alone in August, including a $29 million, 34-unit bulk deal). He has closed more than $1 billion in Trump condos overall and has only about 75 units left.

Recent Trump Towers Condos sales

have been priced at about $525 per square foot. Thats significantly less than the $1,000-per-square-foot contracts buyers walked away from in 2009 after the financial crisis hit, but Dezer, whos paid off the construction loans for all four buildings, seems satisfied. (Donald Trump participated in a ceremonial Trump Royale condo mortgage-burning ritual, lighting the document on fire himself, in January.) The downturn made the job challenging, Dezer says. Every day was a battle. But when youre winning, its fun.

Winning could also be used to describe the situation at Icon Brickell. That nearly 1,800-unit downtown colossus, built by the Related Group with designs by Philippe Starck, seemed to be in peril not long ago, and two of its three towers were deeded back to its lenders in May 2010. But Icon Brickell Condos now nearly sold out, with more than 1,500 units closing for a total of more than $700 million. When you factor in units in contract, only about 30 condos remain.

I think the market has consumed the inventory in a much more rapid way than I and probably everybody thought, says Related Group chairman and CEO Jorge Perez, who adds that most buyers have been foreign. The Latin American economy has been strong.

The forecast was that we would sell all the units in three years at an average price of $350 per square foot, says Edgardo Defortuna, president of Fortune International Realty, which started selling Icon Brickell apartments in June 2010.

Less than a year and half later, Fortune is almost done and seeing prices at about $400 per square foot.

Demand has been so strong that Perez is now building another downtown development. The 192-unit MyBrickell is a couple years away from completion, but Relateds received over 60 reservations for condos before officially launching sales. Unlike Icon Brickell, MyBrickell isnt on the water, and Perez is passing on the cheaper construction costs and the deal we got on the land to offer units, with interiors by Karim Rashid, for about $300 per square foot.

Defortuna, meanwhile, is now selling downtowns Paramount Bay, a 346-unit building resurrected out of foreclosure by owners iStar Residential and ST Residential. Musician Lenny Kravitzs Kravitz Design firm is working on the building, where prices are about $400 per square foot.

South Beach real estate

with significantly pricier properties, is seeing lots of action, too. The summer was uncharacteristically busy, says Lana Bell, president of Sunny Realty, which has an office in South Beach and Sunny Isles Beach. We certainly didnt take a vacation.

According to Sunny Realty latest Miami market report, South Beach condos sold for an average of $515 per square foot during the third quarter. But this factors in distressed properties, including units bought out of foreclosure.

At the markets top end, the W South Beach Hotel & Residences has closed about $260 million in condos at an average of $1,700-plus per square foot, developer David Edelstein says. The W South Beach sold more than $50 million during the summer. One penthouse went for $7.7 million, north of $3,000 per square foot, Edelstein says.

As with much of Miami, foreign buyers have been key at the W. (Douglas Elliman translated its market report into Spanish and Portuguese to spur international interest.) From May through September, about 65 percent of Edelsteins purchasers were foreign, and about half of those were from Brazil.

The allure of the W has helped nearby condo buildings lure in buyers, including those from New York.

Fashion designer Irina Shabayeva, who won season six of Project Runway, owns a one-bedroom with a balcony at the 52-unit Boulan South Beach development just south of the W, but on the other side of Collins Avenue.

I like the Boulan because it was so new, really fresh and modern, says Shabayeva, who primarily lives in the East Village. And its across the street from the beach and the W.

Shabayeva says she enjoys the New Yorker-friendly amenities at the W, which include a Warren Tricomi salon and a Mr. Chow restaurant. And Edelstein says that the Dutch, an outpost of Andrew Carmellinis SoHo restaurant, will open in the W by Thanksgiving.

Boulan, which has sold 22 condos and has one-bedrooms on the market for upward of $600 per square foot, is busy filling its own retail spaces, as well. An art gallery should open in time for Decembers Art Basel festival. A Mexican/Asian fusion restaurant and a nightclub are also in the works.

Neighborhoods all over Miami are getting big residential and retail makeovers. The 56-acre Midtown Miami developments second phase, which will start next year, will include a boutique hotel, a movie theater and 100,000 square feet of retail.

Well definitely have a fashion component, says developer Jack Cayre.

And the nearby Design District is getting a Louis Vuitton store.

There was probably a point in time here someone said, Whats Chelsea? or Whats Meatpacking? and eventually, they became a place because New York was ready to have another place, says Greg Masin, senior director at commercial real estate firm Cushman & Wakefield. When we look at the Design District and at Midtown, what we see is the evolution of the next place in Miami.

Plus, the downtown Metropolitan Miami developments third phase will include rental apartments and a Whole Foods Market. Plans for downtowns eight-block Miami Worldcenter site include residences, restaurants and retailers. And the Genting Group, an Asian casino operator, has unveiled plans for its $3.8 billion Resorts World Miami mixed-use complex. But the scope of the latter two projects will depend on approval for casino gaming, something thats the object of much speculation and uncertainty all over Miami.

Dezer says he has been talking to major Las Vegas casino operators about land he owns in Sunny Isles (13/ acres on the beach and 6/ acres directly across the street that hits the intracoastal waterway) that could accommodate a gaming resort with more than 2,000 rooms and 3 million square feet.

They’re both good real estate, Masin says of the Genting and Dezer sites. If they both had a casino, theyd both be successful.

Whatever happens, Dezer has options.

We originally bought [the land] to build condos, he says. We could build five condo buildings.

That idea would have seemed ridiculous in 2009, but now its more plausible.

Defortuna has sold out the 256-unit Jade Beach condo building in Sunny Isles Beach and has just three apartments left (for about $700 per square foot) at its 252-unit Jade Ocean sister property.

In terms of quality inventory, oceanfront, he says, you can make a strong argument that you need to start building now.

Originally published by ANDY WANG.

(c) 2011 The New York Post. Provided by ProQuest LLC. All rights Reserved.

The Icon Miami Beach condos

is located on the southern tip of South Beach a.k.a. SoFi and offers a contemporary living experience for renters and buyers alike. With the market at a prime time for purchasing real estate, a growing number of investors are placing their focus on luxury condominiums in South Beach Florida, Icon South Beach stands out as an ideal investment opportunity that provides the utmost in elegant living.

Icon South Beach condos

provide the gateway to South Beach’s South of Fifth Neighborhood, a highly sought after location known the world over for its white sand beaches and luxury living. This area is one of the most desirable neighborhoods in Miami Beach and allows residents to escape from the hustle and bustle of the city. If you enjoy the exciting nightlife, exquisite dining, and many activities offered in Miami Beach but would also appreciate a luxurious oasis to escape in order to rejuvenate yourself, the Icon South Beach condominiums provide an ideal solution.

Amenities at the Icon South Beach

include a heated Infinity Edge pool, a state-of-the-art fitness center and spa, on-site concierge, a café, media room, billiards room, 24-hour valet, tennis court, laundry and dry cleaning services, housekeeping services, and more. There are nine Icon Miami Beach floor plans to choose from. Depending on your unique style, you can select from four Philippe Starke palates. These palates include:

· Classic. French limestone and dark woods
· Nature. Natural stone and woods
· Minimal. Neutral tones and streamlined features
· Culture. Artistic layout for a more eccentric look

Other features include walk-in closets, ocean or bay views, Miele appliances, granite or marble countertops, European cabinetry, marble flooring, and hurricane resistant glass. No matter what floor plan you opt for at the Icon South Beach, you will enjoy unmatched style and comfort year round and will be within minutes of all of the excitement that Miami Beach has to offer.

Location, location, location is always the truth in real estate. While numerous areas of the Miami real estate market offer a variety of single family homes for individual buyers and investors, the properties that continue to remain the most attractive to buyers are those with waterfront views or direct waterfront access.

Available oceanfront, bayfront and Intracoastal lots between South Beach and Fort Lauderdale are growing in popularity among individual investors and developers. Vacant lots as well as homes ripe for teardown and reconstruction are both drawing the attention of local and international buyers. One of the most recent sales along this prominent coastline includes a two acre lot offering 200 feet of waterfront footage within the Miami Beach community which sold for $15 million. Miami waterfront properties are limited, and therefore always in demand. In addition to single family residences, Miami condos are also in demand along the coastal fronts.

South Beach real estate

has been on the rise in regards to luxury waterfront condo sales. There are many popular condos currently available for sale at great prices. Here is a short list of most popular newer construction buildings which are in demand on South Beach: Apogee Miami, both Continuum and Continuum II, <a href="http://www.sunnyislesmiamirealestate.com/South-Beach/Il-Villagio, Icon, Murano to name just a few.

“While the inventory has dropped in recent months, a variety of luxury condominiums still remain available along the desirable Miami coastline, including both new developer construction and prime resales,” said Lana Bell of Sunny Realty.

Of the 5,000 condos recently built in the Fort Lauderdale area, only 70 still remain unsold from the original developers. In the Hollywood and Hallandale beach areas, there are also just a handful of the available developer condo units still available for purchase.

What does this mean? Much of the available inventory has changed hands, from the developers to individual investors and buyers. This capital exchange has freed up funds developers need to begin new projects in the surrounding area. While developer properties have been selling strongly, new developments aren’t expected to pop up quickly. In fact, there is only one project currently slated to begin construction in the area. This project – Apogee Beach, is being developed by Jorge Perez and scheduled to break ground in early 2012.

While the future of new developments are unsure, Miami real estate experts suggest most of the developer attention will be focused on oceanfront or ocean view properties as opposed to downtown opportunities due to the consistent demand for these locations. After the recent market turmoil, many developers are sitting back, waiting to assess what their next move or next project will be.

Regardless of new developments in the area, which will certainly come, single family properties and condos are still in high demand along the Miami coastline, which is certain to remain strong over the coming years.

If you prefer you can read the article on Wall Street Journal site (the link is below) or here is the full article:

http://online.wsj.com/article/SB10001424052748703730804576317150261940990.html

This spring, Russian billionaire Yuri Milner paid $100 million for a French chateau-style mansion in Silicon Valley, setting a record for the highest price ever paid for a single-family home in the U.S. In January, Ukraine’s Rinat Akhmetov closed on two of London’s most expensive apartments ever for a combined $222.5 million. In Paris, a Gulf princess spent $96.9 million last year for a mansion with an inner courtyard, garden and private chapel on the Left Bank.

Some of the biggest residential real-estate buyers in many cities are emerging from halfway around the globe. In London, one report finds that 65% of buyers in the Miami luxury residences hail from abroad. According to the Miami Association of Realtors, nearly 60% of all sales last year throughout the city were to buyers from foreign countries. About half of the buyers in one new luxury condominium on Manhattan’s Fifth Avenue are from overseas.

While foreign purchasers make up about 7% of the U.S. residential real-estate market, their numbers have swelled: According to the National Association of Realtors, 18% of Realtors in the U.S. market reported selling a home to at least one international buyer in 2010, up from 12% in 2009.

The makeup of these buyers is changing, reflecting changes in the global economic scene. Buyers from Russia have returned, and the numbers are growing from Brazil, where the economy grew 7.5% last year. Australians are buying ski homes in Aspen. In Tampa, Fla., Venezuelan buyers are buying heavily discounted beach condos.

One of the biggest factors in many areas is the emergence of the Chinese. As housing costs on China’s mainland skyrocket—raising concerns of a property bubble there—monied buyers are heading abroad, moving into markets that look, in comparison, like a bargain.

In Orange County, California Chinese buyers now account for more than half of his showings in tony Newport Coast, up from a very small handful two or three years ago. Many Chinese buyers seek brand-new homes with more than 10,000 square feet to use either for vacations or as a place for their children to live when they attend college.

Amy Williamson, the vice president of sales for Prodigy Network, which markets condo buildings like Trump Soho Hotel Condominium in New York, visited Shanghai last month, meeting with local brokers and potential buyers there. Beverly Hills-based broker Joyce Rey traveled to Beijing in October, arranging a reception at an art gallery where photographs of homes priced between $10 million and $125 million were displayed around the room like artwork. Tim Swannie, the Valbonne, France, director of Home Hunts, says one of his agents is working with two Chinese clients who are looking for vineyards in the $5 million-to-$10 million range in the Bordeaux region.

In the U.S., many foreign buyers are taking advantage of the relatively weak dollar. In March, Pascale Saliou, a 44-year-old from Brittany, France, paid about $600,000 for studio in a building with a contemporary art-filled lobby in Manhattan’s Chelsea neighborhood. Ms. Saliou has been visiting the city regularly for more than 20 years and finally decided to buy a New York apartment because of the exchange rate. “We never imagined we could one day do this,” she says.

Not all foreign purchasers are shelling out millions (in the U.S., the median price paid for a home by an overseas buyer was just under $220,000, according to the National Association of Realtors). And not all are traveling thousands of miles. Canadians are the largest group of foreign buyers in the U.S. today, representing about 23% of foreign buyers, up from about 17.6% in 2009, according to the National Association of Realtors.

Global property buyers gravitate to a handful of highly specific locales: In London, Russians and people from the Middle East flock to central Knightsbridge, where blocks of sleek condos offer top-of-the-line amenities. In New York, newer condos packed with contemporary design attract foreign buyers. Here’s a look at some of the top global real-estate markets for foreign buyers.

Last month, Russian composer Igor Krutoy—who has recorded more than 100 songs in Russia and collaborated with many of the country’s music stars—made headlines when he and his wife, Olga, purchased a 6,000-square-foot 12th floor condo at the Plaza for $48 million. It was one of the highest prices ever paid for a condo in New York.

According to Jonathan Miller, CEO of appraisal and consulting firm Miller Samuel, foreign buyers make up 15% to 20% of all home sales in Manhattan. They’re particularly strong buyers of thoroughly renovated or newly built condos priced at several million dollars or more. Pamela Liebman, president and CEO of New York-based brokerage Corcoran Group, says that in the first quarter of this year, nearly 20% of new condo sales at Corcoran went to foreign buyers. One deal under way includes a group of Asian investors who are buying 13 apartments in a building, each priced between $1.5 million and $2.5 million.

Manhattan has long been one of the most popular markets in the world for international buyers. But the makeup of international buyers has shifted. Gone are the investors from Ireland who were snapping up condos amid the economic boom in their homeland, says Mr. Miller. Today, it’s buyers from China and Brazil. In the past 18 months, brokers say Russians—known during the boom years for making large real-estate purchases in opulent trophy buildings—have returned after sitting on the sidelines during the recession.

International buyers tend to gravitate to certain buildings. Luigi Rosabianca, a real-estate lawyer who works with international buyers, says the André Balasz-designed William Beaver House in the Financial District is popular with his Latin American clients. “Certain people are attracted to certain energy and aesthetics,” he says. At the Sheffield, a 582-unit condo building at Columbus Circle where 28% of sold units have gone to overseas buyers, sales staff now print marketing materials in Mandarin, French, Spanish and Italian.

At midtown’s Setai Fifth Avenue Residences, where apartments are priced from $1.2 million to $15 million, about half of the buyers have been from overseas. Giuseppe Rossi, the executive vice president of Bizzi & Partners Development, who is originally from Italy, notes that many Italians have purchased apartments there. “We’re Italian developers so there’s a certain appeal to Italian products and the way we built,” he says. Brazilian buyers have also made several purchases there, including Brazilian soccer star Kaka, who recently bought three apartments in the building which he plans to combine, says Mr. Rossi. (Kaka didn’t respond to requests for comment.)

Giorgio Castro, a 62-year-old Rome-based entrepreneur, says he dreamed of owning a place in Manhattan for decades. Last year, with the euro-dollar exchange rate giving him more than a 40% discount, he finally snagged a $1.3 million one-bedroom condo in a Wall Street building designed by David Rockwell.

“It was a good opportunity to buy something I longed for,” says Mr. Castro. “With the money I spent, I could not have bought something equivalent in Rome.”

The Paris real-estate market is booming, driven in part by the high prices foreigners are willing to pay. In the “Golden Triangle”—the tony area near the Champs-Élysées—apartment prices rose 38% in the last year, according to the Paris Notary Chamber. For Paris apartments costing over $2.8 million (€2 million), three foreigners buy into the market for every one foreign seller, says Charles-Marie Jottras, president of the Daniel Féau network of real-estate agencies.

Mr. Jottras just closed his first deal with a mainland Chinese buyer, an apartment on the luxurious Avenue George V for $14.2 million (€10 million). The six-bedroom apartment, down the street from the Chinese embassy, features a 2,150-square-foot living room. A new influx of Chinese buyers is also looking at the 16th arrondissement near the Trocadéro Place, where stately buildings appeal to foreign buyers. The Brazilian presence is also growing; Jean-Philippe Roux, manager of luxury real-estate agency John Taylor’s new Paris office, says he has nine Brazilians interested in the seventh and eighth arrondissements.

France’s neighbors Italy and Britain account for about a third of the international market. These buyers often seek apartments on the Left Bank, in the Saint-Germain neighborhood, as well as in the more bohemian Marais area because of the central location for train stations.

Russian and Middle Eastern buyers tend to concentrate in the “Golden Triangle,” where there are the most luxurious hotels and boutiques. A 1960s-era building at 12-18 Avenue Montaigne, near the Louis Vuitton and Chanel stores, is a big draw, as is the recently renovated building at number 51-53 on the opposite side of the street.

There are only a handful of mansions in Paris. Mr. Jottras’s record sale happened last year and was for the Hôtel de Bourbon-Condé, a mansion with an inner courtyard, garden and private chapel, in the seventh arrondissement on the Left Bank. For $96.9 million (€68 million), a Gulf princess had a new home.

China’s housing boom spilled over to Hong Kong, where property prices have surpassed previous historic highs and are now some of the highest in the world. According to property agency Savills, Hong Kong’s homes are 52% more expensive than London’s—and 111% more than New York’s.

In April 2011, a 5,636-square-foot condo at 39 Conduit Rd. in the Mid-Levels district sold for $46.4 million (HK$361 million). Local newspaper Ming Pao reported that it was bought by Shi Yuzhu, the Shanghai-based founder of online gaming company Giant Interactive. Forbes magazine reported his net worth at $1.6 billion.

Meanwhile, a house on 11 Headland Rd. in Hong Kong’s Repulse Bay neighborhood recently sold for $84.9 million (HK$660 million). Newspaper Ming Pao reported the buyer as Gao Yanming, chairman of Hebei-based shipping company Hosco Group. Henderson Land, the developer, confirmed the transaction but declined to comment as to the identity of the purchaser.

Mainland Chinese buyers are more concentrated in the new luxury sector of condos priced over $1.5 million (HK$12 million), like the Cullinan in West Kowloon. In this sector, they represented 28.8% of the deals during the last half of 2010. In the ultra-expensive range—$25.7 million (HK$200 million) and above—Joseph Tsang, managing director at Jones Lang Lasalle in Hong Kong, estimates that almost all the transactions involve buyers from China.

Mr. Tsang says Chinese buyers look for luxury finishes, ornate decorations and grand hotel-style lobbies. “They’re into glamour and bling,” he says. “In order to attract the Chinese buyer [from the mainland], you need to put out the most expensive stuff on display.”

In the past, the pricey homes along the southern coast of Hong Kong island were popular among well-heeled expatriate bankers from the U.K., Australia and the U.S. But the influx of Chinese buyers and the resulting spike in prices has even forced some members of this wealthy class out of their traditional stomping grounds.

The city’s largest brokers routinely organize bus tours for interested buyers from mainland China to visit new development sites.

Local brokerage firm Midland Realty recently organized three tours during the May 1 weekend, a public holiday. By the end of the weekend, the agency had 10 deals signed, starting at $643,000 (HK$5 million) for new condos. During a tour earlier this year, the agency says some buyers purchased units for $1.3 million (HK$10 million) on their first visit to Hong Kong.

“If you look at the new apartments [in West Kowloon], over 60% are mainland Chinese buyers, but if you count the lights at night, you won’t see many. It’s sold out, but it’s pitch dark,” Mr. Tsang says.

According to Liam Bailey, head of residential research at real-estate agent Knight Frank, London’s ratio of international to domestic buyers for prime real estate is the highest of any major city in the world. According to his report last month, 64% of buyers of central London homes priced over $8.1 million (£5 million) are foreign—”the highest of any major city, without a doubt”—and probably the highest it’s ever been, Mr. Bailey says.

The number of nationalities represented has also swelled; 61 nationalities purchased homes in London last year, up from 46 in 2009, with Russian, Chinese, Indian and Middle Eastern buyers seeing the biggest growth, according to Knight Frank.

For many, the U.K.’s steady political environment and stable economy make London a safe haven for wealth. Sterling’s decline against the dollar—around 20% since 2008—makes property even more enticing. But currency arbitrage and safe-haven status aside, different nationalities are drawn by different aspects.

For U.S. buyers, it’s London’s leafy Hampstead Village, according to Marcus Oliver, associate director at real-estate agent Chesterton Humbert’s Hampstead office. He said 80% of foreign buyers in Hampstead over the past three months have been from the U.S. “Americans are attracted to the quintessentially ‘London village’ feel of Hampstead, with its quaint Victorian houses and the rolling Heath. It matches up with the clichéd impression of London.”

Meanwhile, the status and bright lights of a pad in central Knightsbridge are luring the newly monied Eastern Europeans and Middle Eastern buyers, says Roarie Scarisbrick of HSBC-owned buying agent Property Vision. “Knightsbridge property is the ultimate status symbol for the new settlers of Eastern Europe with their newly amassed fortunes.” Properties like the Knightsbridge, One Hyde Park and the Lancasters, where residents enjoy 24-hour security and amenities ranging from golf simulators to private movie theaters, are attracting some of the world’s wealthiest oligarchs and sheiks.

One such buyer is Ukranian billionaire Rinat Akhmetov, who in January closed on two apartments in the Candy Brothers’ new One Hyde Park development in Knightsbridge for a reported $222.5 million (£136.6 million) to combine into a triplex penthouse. Mr. Akhmatov’s press secretary Olena Dovzhenko confirmed the property was purchased as investment through the oligarch’s company, SCM Capital Management.

In neighboring Kensington, with its proximity to museums and coffee shops, the typical buyer is French, Swiss or Italian, says independent search agent Charles McDowell. He recently found a home for 38-year-old Parisian Michelle Dellion, in South Kensington. The five-bedroom townhouse on Mulberry Walk cost $16.3 million (£10 million) and has 5,000 square feet of living space. “We had to be in London for my husband’s job. Kensington is near the Lycée [Français Charles de Gaulle] and the park—with our three children it was the best area for us,” said Ms. Dellion, a stay-at-home mom whose husband works in finance.

Mindful of this tendency to flock together, developers have launched targeted marketing drives. Within the last six months, luxury London developments The Heron, Bramah Chelsea, Wellington House and Neo Bankside have held marketing exhibitions in Singapore and Hong Kong. Last September, Bramah hosted a successful exhibition at the Mandarin Oriental hotel in Hong Kong. “We sold 50 apartments off plan over two weekends,” says sales executive Matt Shenton.

In the Greater Miami area, nearly 60% of all sales last year were to buyers from overseas, according to the Miami Association of Realtors. For sales of newly built condos downtown, like Icon Brickell that figure jumps to 90%, says the group.

Many of the buyers are from Brazil, which experienced an economic growth rate of 7.5% last year. Brazil’s currency, the real, has risen about 40% against the U.S. dollar in the last two years.

Property developer and marketer Fortune International focused heavily on Brazil to sell Jade Ocean, a 50-story building the company is marketing with infinity pools, a private movie theater and a children’s playroom decorated with Philippe Starck furniture. Its two-story penthouse loft apartments sold for between $3.5 million and $10 million. Nearly 85% of Jade Ocean’s sales have gone to overseas buyers.

Fortune’s principal developer Edgardo Defortuna says that last fall, he worked with American Airlines to invite a group of potential buyers and American Airlines contacts to a dinner party at a restaurant in Brasilia. “The Black Eyed Peas were having dinner in the next room,” he says. His company is also encouraging the airline to add new flights from different cities in Brazil to Miami, which American Airlines says is in the works. In an e-mail, an American Airlines spokeswoman said, “it makes business sense to promote Miami not only as a place to visit but a place to live.”

Russian buyers tend to cluster in northern, beachfront areas. Mr. Defortuna says he’s planning a trip to Moscow and St. Petersburg to pitch several of his Miami-area buildings. There, he hopes to throw a dinner party with Donald Trump Jr., an executive vice president with the Trump Organization.

Unlike Americans, who tend to look for single-family homes, overseas buyers favor condos. Italians have been drawn to the Capri South Beach, a condo building with downtown views and its own marina, says broker Nelson Gonzalez. The Icon Brickell Condo, a three-tower complex downtown, has a large number of British and Brazilian owners.

Venezuelans are also a growing presence, as are buyers from Italy, Spain and Switzerland.

Henrik Wiingaard-Madsen, a shoe-manufacturing company owner from Denmark, says he got a 30% discount in July for two apartments in the Icon Brickell Tower—$520,000 for a two-bedroom and $840,000 for a three-bedroom—plus a rebate. Icon “had so many units, they were kind of desperate at the time,” he says. “The price was so low compared to the quality.” Mr. Defortuna says his company took over marketing for the complex last June, and that the building “has filled in significantly since then.” So far, about 80% of the units have been sold.

As the Euro continues to gain strength over the dollar, Europeans, primarily from Italy and England, look to South Beach condos as a solid investment opportunity.

In particular, the Continuum, Continuum II, Icon and Murano condominiums have drawn European interest.

It’s no surprise that these condos draw worldwide attention. Their elegant and modern comfort offers residents a superbly unique experience. The Continuum Miami Beach, for example, boasts such amenities and features as marble floors, whirlpool tubs, European cabinetry, luxurious landscaping on 12 acres of prime oceanfront property, private beach cabanas with attendants, and a state-of-the-art pool, to name just a few.

Residents enjoy a pampered lifestyle. After a healthy workout at Continuum’s three-story fitness center where one can enjoy free weights, yoga and pilates classes, a lap pool, and a tennis match, Continuum’s European-style spa offers such services as massages, facial treatments, manicures, and herbal wraps to soothe ones mind and body.

Location is vital to a lucrative investment in real estate. South Beach’s condos will not disappoint in this category. With direct access to the beauty of the Atlantic ocean and its beaches, the vibrant and exciting city life, world-class food, boutiques, and the many other unique attractions that South Beach has to offer, the location of these condos is extremely attractive.

It is no wonder that South Beach real estate

is drawing so many European investors. According to an annual survey taken by the Association of Foreign Investors in Real Estate, the United States is on the top of the list for the most secure and stable countries to invest in real estate. As a result, such real estate as South Beach condos provides a fantastic opportunity for appreciation, and the appeal is only growing as foreign investors are catching wind of these prime investments.

When you are considering buying a home in the South Beach

you are going to want to do some research to find out what the average price is for homes. One of the easiest ways to do that is to compare the average price per square foot of the different properties. Here are some of the most popular properties in the area as well as the average price per square foot. They are in order from highest to lowest. All of the data is from units sold in 2010.

Ten units were recently sold at The Setai Miami Beach

The Setai condos sold for an average of $1,517.28 per square foot. Apogee Miami Beach, another popular property, sold nine units. The average price per square foot at this property was $1,317.74. Twelve units sold at Continuum North for $1,053.44, and four units sold at Il Villaggio Miami Beach for $859.08 per square foot.

Continuum South

had sixteen properties sell with an average square foot price of $769.49. Murano at Portofino had four sold properties at $730.21 per square foot. Mosaic sold five units at $631.59 per square foot, while Murano Grande had eleven properties sell at $556.68.

Seventeen properties sold at ICON South Beach

for $543.99, while Blue Diamond Miami Beach sold twelve units for $470.51 per square foot. The Yacht Club sold sixteen properties at $443.40, and at Bentley Bay, nine condos sold for $412.74 per square foot.

Cosmopolitan South Beach

sold eleven units for $384.58, and Sunset Harbor had fourteen units sell at $346.17 per square foot. Roney Palace had an amazing thirty units sell for $341.87 per square foot, the Floridian had twenty-five condos sell at $317.81 per square foot. Rounding out the list is Wavery, which had eighteen units sell at $307.04 per square foot.

As you can see, there are many different types of properties available in the area, and people with large and small budgets alike should be able to find a great home in South Beach.

South Beach Real Estate

offers a variety of condos and South Beach homes at price reductions of 30% or more. Below are some of the best deals in the area:

Icon South Beach

is one of the most extravagant buildings on SoFi. Built in 2007, it was decorated by Philip Stark, one of the most talented European designer. Icon Miami Beach because instant success and the most prestigious address in South Beach. However, due to current economic downturn you can find great deals in Icon at reduced prices. Check out current availability for sale or rent as well as what has recently sold and statistics for Icon Condo South Beach.

Apogee South Beach

is the most successful project on South Beach. Although it is probably the most expensive condominium in Miami, it offers great deals for those looking for top notch luxury living on South Beach. Apogee Condo offers spacious residences with magnificent views of Fisher Island homes, ocean and Intracoastal waters. Check out current availability for sale or rent as well as what has recently sold and statistics for Apogee Condo South Beach.

Continuum South Beach

offers one thing no other building offers – private beach. Situated directly on the ocean it presents unique opportunity to enjoy the best South Beach has to offer. You can find great deals in Continuum Miami Beach and this building will be the first to appreciate once the market turns.

Check out current availability for sale or rent as well as what has recently sold and statistics for ContinuumCondo South Beach.

Despite the chilly temperatures, Miami real estate

market for condos and single family houses is heating up considerably. While the national economy might be slow to recover, it seems that the real estate in Miami Beach is rebounding very quickly (though it never truly bottomed out to begin with). As a sign of this resurgence in the market, the area has seen some serious deals go through recently.

For instance, a condo unit at the Murano Grande Miami recently went for $4.2 million, while another combo at the Continuum Miami brought in a staggering $6.25 million. Lastly, a condo unit at ICON South Beach Miami went for $2.325 million – those are some pretty impressive sales figures, indeed!

However, do not mistake the rise in sales for a lack of available properties. Miami Beach is currently home to some of the most impressive properties around. You will find numerous condos for sale, both downtown and on the beach. However, if you are seeking rental property, you might have even more options. A considerable number of properties are up for rent, both long term and short term. That means you can find any sort of property to suit your needs.

The Miami Beach real estate market is rebounding

faster than many people have expected it to, leaving some buyers wondering where to turn so they can get in while the prices are low. If you’re in the market for a great ocean front condo in Miami in the lap of luxury, don’t wait. Considering the sales the area has experienced recently, it’s an easy guess to say that these properties will start selling even faster. The market’s upswing is set to be quite significant, so getting in now is the best way to ensure you get the property you want, at a price that you absolutely love.

Despite a lagging economy, South Beach Real Estate

continues to show high real estate sales. Whether it is the appeal of the oceanfront, the array of activities and entertainment, or the high standard of luxury living, the SoFi area continues to attract new buyers. Some of the top quality condos in South Beach are still in demand.

The Apogee Condo South Beach

is all about spacious luxury. The units at Apogee range from over three thousand to over four thousand square feet. Each condo at Apogee have such upgrades as private balconies, high ceilings, and separate garage parking.

For fitness, beachfront fun and luxury living, the Continuum Condo South Beach

offers it all. The forty story ultra modern high-rise is located directly on the waterfront, and it offers over three hundred condo units, all equipped with modern amenities and technology. This is why Continuum South Beach remains top choise among investors and full time residents.

A historic landmark, Portofino Tower

was the very first high-rise luxury condominium on South Beach Miami. Including vaulted ceilings, upgraded penthouses, and luxurious gardens, the Portofino Tower condo is a top-notch condominium choice.

Murano Condo South Beach

is probably one of the most elegant buildings, superbly located at the Southern most tip of US and offers spacious apartment, unmatched views of Fisher Island condos, luxury cruise ships, Atlantic ocean and South Beach real estate. The Murano At Portofino offers an array of conveniences on the premises as well – tennis courts, gym, concierge, security and most popular beach side cafe. This is why prices continue to climb at Murano South Beach.

Murano Grande South Beach

is a brand new establishment and offers top-notch amenities and state of the art technology. The Murano Grande Condo South Beach offers a selection of one to five bedroom units all luxurious and all selling well. Ocean-to-bay, see-through floor palns makes Murano Grande Condos some of the most desirable and well priced real estate investment.

The Icon Condo South Beach

is a forty story high-rise where comfort is just as important as fun. Situated looking out over Biscayne Bay, The Icon South Beach offers all of the conveniences that anyone would expect from a luxury South Beach condo.

When it comes to properties in South Beach

these condos are continuing to sell well despite anything that may be happening elsewhere in the Miami real estate market. If you’re on the market to invest into the future, South Beach condo is the best place in Miami to invest for future growth as well as present enjoyment.

You can find great deals for South Beach condos

Condos like Murano, Icon, Continuum, and Portofino. The costs of condominiums in the South Beach area are now lower than they have been in a number of years. Anyone who is interested in living in an oceanfront property on South Beach should explore all the different options he or she has in these incredible areas.

Continuum South Beach

is a 40-story building that offers a great views of the ocean and is located on the most famous South Beach with it’s private beach and five stars service. In addition to the private beach, residents will find a fitness center, tennis courts, and a pool that they can use.

Icon South Beach

is also 40-stories high, and it offers prospective buyers a number of floor plans from which to choose. The 1, 2, and 3 bedrooms suites all have an amazing views of Biscayne Bay and the Atlantic Ocean.

Murano South Beach

is a stylish condominium property that has an onsite fitness center and spa, as well as great views. It also has a saltwater pool, a pool café, and the Bay Side Beach Club among amenities for the residents.

Portofino Tower South Beach

is 44-stories high, and has 1, 2, 3, and 4 bedroom residences, as well as penthouses that have spectacular views of the water. The property also has a fitness center, spa, tennis courts, and much more for the residents to enjoy.

Because so many of the South Beach condos are on sale, you will be able to find great deals in Murano, Icon, Continuum, and Portofino. Each of these different properties offer the best in beach living, as well as a variety of amenities that you just won’t find with many condominiums. You can live the life of luxury close to the beach and all the action that the famous area of South Beach real estate has to offer.