Miami Beach Condos – Still a Popular Investment Choice in Some Areas
January 15th, 2009 | by Michael |
Mandel Dominus asked:
For decades, Miami Beach has been a popular destination for tourists hailing from all corners of the globe. Beautiful year round sunny weather and endless expanses of white sandy beaches make it the perfect place to spend a vacation playing in the sun. Also in recent years, Miami Beach nightlife has been receiving international attention as well from numerous entertainment programs that showcase the best in restaurants and nightclubs around the world.
A High Level of Diversity
Another thing that all of Florida has been receiving media attention for, is its position in the general decline of real estate values across the nation as a whole. What many people fail to realize however, is that Miami Beach is much more diverse both demographically as well as geographically than other areas of Florida and the nation in general. This high level of diversity has also been reflected in the Miami Beach condo market as well, which has made it quite difficult to nail down a blanket description of the market as a whole.
The Waterfront Miami Beach Condo Market
For instance, there is the waterfront condo market along the beaches and marinas that has continued to flourish in spite of the credit crisis that has griped the rest of the nation. The median price of a waterfront Miami beach condo right now stands at around five-hundred thousand with some of the better condos running at well over a million.
New Areas of Development
At the same time, condos in some of the better downtown locations, such as Brickell have also held their own quite well. Condos in these downtown areas also cost about half as much as similar condos in waterfront locations and are the residence of choice for young affluent office workers in the financial district. Other areas to watch in the coming future are areas such as Liberty City and Little Haiti, which up until recent years were “no go” areas of Miami Beach but are now being targeted by condo developers in need of land to build on.
CARMELO
For decades, Miami Beach has been a popular destination for tourists hailing from all corners of the globe. Beautiful year round sunny weather and endless expanses of white sandy beaches make it the perfect place to spend a vacation playing in the sun. Also in recent years, Miami Beach nightlife has been receiving international attention as well from numerous entertainment programs that showcase the best in restaurants and nightclubs around the world.
A High Level of Diversity
Another thing that all of Florida has been receiving media attention for, is its position in the general decline of real estate values across the nation as a whole. What many people fail to realize however, is that Miami Beach is much more diverse both demographically as well as geographically than other areas of Florida and the nation in general. This high level of diversity has also been reflected in the Miami Beach condo market as well, which has made it quite difficult to nail down a blanket description of the market as a whole.
The Waterfront Miami Beach Condo Market
For instance, there is the waterfront condo market along the beaches and marinas that has continued to flourish in spite of the credit crisis that has griped the rest of the nation. The median price of a waterfront Miami beach condo right now stands at around five-hundred thousand with some of the better condos running at well over a million.
New Areas of Development
At the same time, condos in some of the better downtown locations, such as Brickell have also held their own quite well. Condos in these downtown areas also cost about half as much as similar condos in waterfront locations and are the residence of choice for young affluent office workers in the financial district. Other areas to watch in the coming future are areas such as Liberty City and Little Haiti, which up until recent years were “no go” areas of Miami Beach but are now being targeted by condo developers in need of land to build on.
CARMELO
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