The Priciest South Beach Real Estate
While Downtown Miami’s rental prices for residential units increased by 8% in 2012, South Beach condo buyers experienced discounts averaging 7% this same period. A market analysis report by Condo Vultures highlighted South Beach real estate’s top 10 luxury condos including ICON South Beach, Continuum South Beach, Apogee, W South Beach, Ocean House, Setai Resort and Residences and Ocean House. The complete market data can be found here.
Key notes include that ICON South Beach secured one of the priciest resales in Miami for a four-bedroom unit costing over $20-million. The key question that most investors request when shopping is the average price per SF for the best-in-class luxury. These numbers rounded up to be a median $2,265 per SF in 2012, even though they were originally placed on the market for $2,450 per SF.
When adding together the figures for all 10 priciest South Beach condos, sales totals concluded at $113 million.
South Beach is one of the most popular areas on Miami Beach with some of the priciest luxury condos.. The vicinity expands from 24th street in Miami Beach to the tip of Miami’s shores at South of Fifth.
As travelers venture a few minutes to Downtown Miami, other LUXURY Miami real estate inventory is available. Check out a Luxury Downtown Condo FOR LEASE at the Marquis Residence at 1100 Biscyane Blvd, Condo #4302. MLS# A1727471. 2BR/2.5BA FOR LEASE Price: $5,250. Monthly.
Sources: Condo Vultures
Photo Credit: Best Beaches
Daneil Fletcher for SydneyServerRealEstate.com