Miami's newest urban scene "Downtown Miami" is one of the hottest markets in the country thanks to the record breaking foreign investment that has stimulated the local real estate market.
Downtown Miami is poised to become a true gateway city of the world. This city is experiencing unprecedented growth with its condo supply dwindling at a faster pace than anticipated. One of the reasons for this is because of foreign nationals who have been taking advantage of the low pricing, low dollar valuation, and high quality properties that are available. New development is already being planned for major mixed-use projects, adding to Miami’s excitement. New businesses have opened along the Miami River and the interior of the city, keeping up with Miami’s new residential population.
Although many have suggested Downtown Miami's over-supply of newly built luxury high-rises were the epicenter of the housing crisis, new reports have shown that these units are selling at record numbers. Cash and well-qualified buyers are taking advantage of the historic pricing and sales are up.
The South Biscayne Corridor
You'll find state-of-the-art residential buildings directly across the street from the Miami Arena, Bayside, Bayfront Park & Amphitheater and the new Miami Art Museum, which is under construction. Most of these luxury units have incredible city, bay and ocean views.
Miami Riverfront Corridor
The historic Miami River is divided into three sections; the lower, middle and upper corridors. The lower corridor is the epicenter of downtown and is home to some of the area’s newest luxury resort condominiums. A pedestrian river walk connects to the historic landmarks, parks, shops, hotels, and restaurants. A 12-screen movie theater and Whole Foods Market will be coming soon to the area.
In 2013 Miami's Skyline is once again dotted wtih building cranes for the next urban boom in Downtown. New projects are now located in the areas of Brickell, Biscayne Wall and the Financial Districts. What is different this time is devevopers are requiring a mininium of 40% to 50% over the construction cycle and they will shy away from speculators to insure completion and delevery to buyers for a successful closing.
Contact us for an updated quarterly marketing report
Looking for the right listing agent to market your Downtown or Brickell property correctly? Contact Ron Eppinger directly 954 520 2731 to set up a listing appoinment today.
Office Location: 1111 Lincoln Road PH-805 Miami Fl, 33139 Tel: 305-695-6300
©2013. Equal Housing Opportunity. All material presented herein is intended for information purposes only. All property outlines and square footage in property listings are approximate.