Buying Miami Condos
For todays lifestyle condominiums are perfect living options for singles and families. Condominiums are where individual get title to the units they occupy but the building and all of the maintenance is done as community, where they share the cost of up keeping the property.
Miami is one of the hottest vacation spots in the United States, with its sunny weather and beaches, it is visited by people all over the world. In last few years, there has been a booming real estate market for Miami condos, but with recent housing crisis, many condo vulture investors have gobbled up distressed properties.
In Metropolitan Miami many large condo developments have been going up in the past few years. Many have suffered catastrophe as the market crashed. You will find many distressed properties going for less than 50 percent of the value. Miami condos have seen there values sky rocket in the mid 2000's.
The increased popularity of Miami Dade are for these home units has seen the price rise a significantly faster rate. Since these prices are rising at faster rate than other investment it has been taken notice by investors. The prices of these units were $100 to 200 per square feet, but now they are high as $400 to $800 per square feet in less than five years.
With so much demand in the past, many of the apartment buildings have been converted to condos, causing a glut of supply in the market. Many developers helped the apartment owners to make money by converting and selling the condos, profit in the short run. The prices depend on the location and the amenities offered by the condos.
In places like Miami Beach and South Beach where the location is prime, the Miamicondos and South Beach condominiums have been very popular. The prices of condos in these areas have been rising above 25% for the last 5-7 years. But wealthy are not only the people buying these condos, average people are flocking to these asset class at record numbers.
Miami is one of the hottest vacation spots in the United States, with its sunny weather and beaches, it is visited by people all over the world. In last few years, there has been a booming real estate market for Miami condos, but with recent housing crisis, many condo vulture investors have gobbled up distressed properties.
In Metropolitan Miami many large condo developments have been going up in the past few years. Many have suffered catastrophe as the market crashed. You will find many distressed properties going for less than 50 percent of the value. Miami condos have seen there values sky rocket in the mid 2000's.
The increased popularity of Miami Dade are for these home units has seen the price rise a significantly faster rate. Since these prices are rising at faster rate than other investment it has been taken notice by investors. The prices of these units were $100 to 200 per square feet, but now they are high as $400 to $800 per square feet in less than five years.
With so much demand in the past, many of the apartment buildings have been converted to condos, causing a glut of supply in the market. Many developers helped the apartment owners to make money by converting and selling the condos, profit in the short run. The prices depend on the location and the amenities offered by the condos.
In places like Miami Beach and South Beach where the location is prime, the Miamicondos and South Beach condominiums have been very popular. The prices of condos in these areas have been rising above 25% for the last 5-7 years. But wealthy are not only the people buying these condos, average people are flocking to these asset class at record numbers.
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