Casinos in Miami and Oceanfront Real Estate

Real Estate Agent with Douglas Elliman Luxury Real Estate

Miami Beach Oceanfront Condo

Every day in the local papers Miami Herald or Sun Sentinel as well as  the international press, there are articles about the possibity of legalizing gambling in South Florida clearing the way for 3 major hotel casinos in Miami and or Fort Lauderdale. Yesterday in Bloomberg Business Week  detailed the the current activity in "Genting Fights Disney, South Beach Over Miami Casino on the Bay."   Malaysian company Genting has already invested in a large parcel in Miami. The Florida legislature is in motion.  This is not the first time this proposal has been presented, however, South Florida is different today then it was many years ago both economically and demographically.  There are many strong voices for and many strong voices against this idea.

Oceanfront condomimiums today are selling at a brisker pace than at the peak of the market. Demand is coming from all over the world. Prices are attractive and inventories have radically dwindled.  Trump Tower in Sunny Isles for example is close to being sold out as are all the other new construciton projects along the coast.

The housing market has picked up however,  inventory is still abundent and there are plenty of good deals to be had.

Let's imagine that gambling passes in South Florida.  2 1/2 hour plane ride from the tri-state area and similiar travel times from South and Central America.  With all that Miami and Fort Lauderale have to offer today, it is only common sense that the demand for real estate will increase dramatically ( as weill prices).

It is a very exciting time in South Florida and those gambling early may just win out.


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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Gambling is supposed to rescue cities and states who just lack management and vision. The downside is rarely discussed which is poverty and ghettos surrounding all these resorts...globally too. I wonder why?

Nov 10, 2011 03:08 AM #1
Jeff Andresen
Buffett Hathaway Real Estate - Highlands, NC
Jeff Andresen

Great photo, and great outlook. Good to hear the positive. Thank you


Mar 05, 2012 03:29 AM #2
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado

May 24, 2012 01:09 AM #3
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