Now days, South Florida's flourishing real estate market regarded as a much safer choice to foreign billionaires than cash or stocks in weaker economies. A top investment firm Chief executive officer, Jeffrey Gundlach, was quoted in the Bloomberg News validating "huge growth at the high end" in Miami and New York real estate markets.
Recent colossal deals exhibit a current pattern. A couple of Miami penthouses at Faena House on Miami Beach and Mansions at Aqualinia located in Sunny Isles, each of them offered for at $50 million or higher, acquired buyers (most probably overseas purchasers) within the last few quarters or so. Particulars haven't been published. Nonetheless, either final sale will probably set the record for Miami's priciest condominium purchase.
The most-recent large transactions at the Mansions at Acqualina in Sunny Isles Beach and Faena House on Miami Beach indicate to an ongoing wave. Both lavish and opulent penthouses were offered for sale at $50Million or higher, attained purchasers (probably international real estate investors) in the last few months. Details were not publicized; nevertheless, either purchase would undoubtedly set the record for Miami's priciest condominium purchase.
For billionaires that are able to afford to buy a property wherever and check out the Miami housing market with major areas like for example New York City, London or Moscow Miami, at about $5000 per sq . ft . is still a great deal.
Miami's housing market as a whole is extremely sizzling at this time, that Brickell and Biscayne corridor current market looks like Dj vu circa '06. The Miami Design district has additionally become the brand new it area. Developer Craig Robbins created a new luxury shopping destination with brand name tenants for example Cartier, Christian Louboutin, Hermes and Prada to mention a few.
Just like the recently marketed and soldout Faena House, there were numerous other luxury Miami Beach condos presented which may have maybe one to two condominiums remaining . Most of these condos almost sold out at a rate that not a single person, including real-estate professionals as well as developers predicted. Glass Miami Beach on famous Ocean Drive has one apartment left listed for $7,900,000 and also Beach House 8 has only two apartments still left BH 6 asking $7,750,000 along with BH3 $5,950,000.
Recent colossal deals exhibit a current pattern. A couple of Miami penthouses at Faena House on Miami Beach and Mansions at Aqualinia located in Sunny Isles, each of them offered for at $50 million or higher, acquired buyers (most probably overseas purchasers) within the last few quarters or so. Particulars haven't been published. Nonetheless, either final sale will probably set the record for Miami's priciest condominium purchase.
The most-recent large transactions at the Mansions at Acqualina in Sunny Isles Beach and Faena House on Miami Beach indicate to an ongoing wave. Both lavish and opulent penthouses were offered for sale at $50Million or higher, attained purchasers (probably international real estate investors) in the last few months. Details were not publicized; nevertheless, either purchase would undoubtedly set the record for Miami's priciest condominium purchase.
For billionaires that are able to afford to buy a property wherever and check out the Miami housing market with major areas like for example New York City, London or Moscow Miami, at about $5000 per sq . ft . is still a great deal.
Miami's housing market as a whole is extremely sizzling at this time, that Brickell and Biscayne corridor current market looks like Dj vu circa '06. The Miami Design district has additionally become the brand new it area. Developer Craig Robbins created a new luxury shopping destination with brand name tenants for example Cartier, Christian Louboutin, Hermes and Prada to mention a few.
Just like the recently marketed and soldout Faena House, there were numerous other luxury Miami Beach condos presented which may have maybe one to two condominiums remaining . Most of these condos almost sold out at a rate that not a single person, including real-estate professionals as well as developers predicted. Glass Miami Beach on famous Ocean Drive has one apartment left listed for $7,900,000 and also Beach House 8 has only two apartments still left BH 6 asking $7,750,000 along with BH3 $5,950,000.
About the Author:
David Nguah is a regarded specialist in the Miami Beach Real Estate market and has websites focused to the most sought after South Beach properties and residential neighborhoods delivering comprehensive info on all condominiums listed for sale, lease and the most recent closed sales. See info on the record Sale at The Setai South Beach.