South Beach Real Estate Market Report 2016 - 2017
Let's talk about South Beach, our favorite neighborhood in Miami. In 2017, the sales have increased by 13% in the analyzed condos. Such increase can be seen on condos such as The Yacht Club, The Floridian, The South Pointe Towers and The Continuum South. The main reason is that sellers have decreased their prices. Out of the 13 condos we evaluated, only one has a price increase which is The Murano at Portofino condo.
We can argue that the price has gone down because the market is currently saturated with condos for sale. In fact, the current market has a 53-months of surplus in luxury condos. It is also important to note that the majority of real estate buyers in Miami are foreigners. The USD currency has steadily gone down since the beginning of 2017 which means the US real estate has become more affordable for them to purchase. These two factors are the main reason for the boost of sales in the South Beach real estate market.
NEW PROJECT : UNA RESIDENCES IN BRICKELL
Just launched yesterday ! We are welcoming the first pre-construction project for the year 2018. The UNA Residences condo is an ultra-high-end waterfront building with only 135 units. All residences will come with a private elevator and will enjoy flow-through marina and water views.
Set in the south of Brickell, right on the bay, this development will be pioneered by the OKO group and is designed by the architecture firm, Adrian Smith + Gordon Gill. Their portfolio includes Burj Khalifa and the Jeddah which will be the tallest building in 2020.
The residences will range from 1,100 to 4,896 sqft and price will start from $900/sqft. All residences will be equipped with floor-to-ceiling glass doors, expansive terraces, chef's kitchens and his and hers closets. Click here for more info
TOP 5 EVENTS IN MARCH
March is a busy calender year for Miami. Here are some amazing events you should look out!
Miami Sailing Week: March 5 - 11
200 sailors from 23 countries are coming to Miami to compete in this international tournament! Come over to see the match that will take place on the beautiful Biscayne Bay in Coconut Grove, Miami
International Orchid Festival: March 9 - 11
Bring your family to the Fairchild Tropical Botanic Garden in Coral Gables for a fun day out! Over 10,000 different orchid plants will be showcased and there are many hands-on activities for the little ones!
Miami Film Festival: March 9 - 18
Hundreds of films, documentaries and short stories will be played in this week long festival. Come and catch a film with you plus one, ticket starts from $13/person
Miami Open: March 19 - April 1
Love Tennis? This is the one event that you don't want to miss! Top tennis players are competing at the Miami Open. Tournament is held at the Crandon Park Tennis Center on Key Biscayne
Miami Music Week: Feb 21 - 25
The world's best DJs are coming to Miami. Clubs and venues all over Miami are welcoming the music industry to their doorstep. This is probably the biggest event in the whole of March
La Centrale Miami
Have you heard the big news? La Centrale Miami is now open for public. Its a grand Italian food hall packed with delicious cuisine from my home country! La Centrale has different floor levels. The Mercato aka the market is located at the ground floor. This is where you can buy expansive list of Italian food! Here you can get all the good food including Salumi e Formaggi, Focacceria, Pastificio and many more! The first floor is personally my favorite! They serve fresh pastas and wood-fired pizzas and they also have small little bites for the whole family. Try their Cacio and Pepe linguini. Then on the second floor you have a fish and a meat restaurant and a chocolate and ice cream store. Not only the food is amazing but the design of the place is done so tastefully. Finally, the best for last is their third floor Enoteca. A huge tasting bar and vaulted ceilings add so much charm to this wonderful project. DEAL OF THE MONTH: YACHT CLUB UNIT 2609
Listed at $819,000 1080 sqft 2 Bedrooms / 2 Baths Ocean View 2 Parking spaces South of Fifth neighborhood Click here for more info