The Miami Condo Market

The Miami Condo Market
The Miami condo market is very diverse and offers a large number of different solutions for those interested in purchasing or renting a condo. People from all over the world are attracted to the vibrant Miami area and its supreme climate for relocation. Miami condos are also popular among vacationers as well as investors. The recent decrease of the dollar value on the international market has made Miami condos an even more interesting option for many Europeans looking for a home away from home, a place in which to retire or just a good investment.

Location, location, location - is the mantra of the real estate business. This is naturally true for Miami real estate as well. The beach front condos are the most popular ones and consequently the most expensive ones to obtain. Just by choosing a condo a few blocks away from the beach you can save huge amounts of money. A Miami ocean view is astonishing, but certainly not for free when we're talking real estate. South Beach is one of the most popular areas of the Miami condo market, not only due to its proximity to the ocean but to its famous nightlife and gastronomic scene as well.

Another highly esteemed part of Miami is the Brickell neighborhood. The Brickell region is commonly referred to as "the Wall Street of the South" and the condominium towers share the space with over 60 commercial banks. This area is typically marketed as a more strict and upscale alternative to South Beach; a neighborhood ideal for those who prefer a downtown environment instead of a sandy beach. The Brickell community is inhabited by people who want to avoid long hours of commuting.

In Brickell it is possible to be close to work as well as to downtown entertainment, but still live in a relaxed area suitable for recreation. The fact that popular South Beach restaurants are beginning to setup finials in Brickell is only one of the signs that predicts how Brickell will turn into an even more sought for area in the future. Three years ago it was possible to buy one of the smaller condos in Brickell for $115,000. Today you must be prepared to pay at least $200,000 for the same condo. The condos in Brickell are however still very reasonably priced compared to the condos located at Miami Beach. A Miami Beach condo of the same type as the $200,000 Brickell condo would cost you at least $500,000.