It is hard not to fall in love with Miami. Pristine white beach, amazing nightlife and sunny weather. These three things fits perfectly to the criteria of an amazing life. No wonder many people are looking at Miami to be their home or their vacation getaway. Over the years, Miami has seen a surge of investment from foreign and local investors and home owners but is the price right?
According the MLS, Downtown Miami is listing their properties around $440/sqft. The neighborhood is considered to be the upcoming place with big projects such as the building of Miami Central and train stations are scheduled to be built. Furthermore, there are abundant of new pre-constructions condos being built in this area which is why buying in this area would be considered as a smart move. After all, the closed sales in Downtown Miami is averaging at a low $350.07/sqft as of June 2018. Example of condo, see 900 Biscayne condo and Marina Blue condo.
Another area, Brickell is the hotspot for millennials and young professionals. What was once considered as strict financial district is now booming with hip cafes and places for young families. The condos here are advertised around $566/sqft but most of them are sold at $402/sqft. See Millecento and 1050 Brickell.
The most expensive area is none other than the famous South Beach. The average listed price here is high at $812.28/sqft but fear not, they are sold around $611.12/sqft. Afterall, there are limited condo inventories in South Beach and the location near to the beach makes up for it. Condos you should definitely look in this area includes The Yacht Club and The Flamingo.