About The Broker






Featured Listings

Local Market Statistics

real-time real estate market research



Virtual Tour Inventory WidgetGet Adobe Flash Player

__________________


eNewsletter Sign Up



Mortgage Calculator


Local Resources

Categories

Archives

Miami’s Luxury Condo Market Surges

Miami’s Luxury Condo Market SurgesThe Setai Resort & Residences

Foreign buyers acquired more $1 million condos in 2011 than in the last year of the South Florida real estate boom in 2006, according to analysis of data from the Southeast Florida Multiple Listing Service Database.

Buyers purchased nearly 590 condos for at least $1 million each in 2011 after acquiring less than 500 high-priced units in 2006.

The 2011 luxury condo resale activity represents a 29% increase from 2010 when fewer than 460 units were purchased for at least $1 million each in Miami.

At the top of the list for the most expensive condo resale in the year 2011 is a penthouse in the Setai Resort & Residences in Miami Beach that sold for $21.5 million.  Buyers also paid $11.5 million for a penthouse in the Apogee condominium and $10.6 million for a high-floor unit in the Continuum On South Beach.

Nearly 20 ultra-luxury condominium units are on the resale market for at least $10 million each with one unit asking $38 million in Bal Harbour.

At least 5 new luxury condo towers are planned or under construction in Miami-Dade County where the proposed sales prices are expected to exceed $1 million each.

For more information on South Florida real estate please contact me at (305) 329-4929 or solovay.m@ewm.com.

Leave a Reply

Copyright © 2008 Whats The Point of Aventura?     Log in     Design by Real Estate Tomato     Powered by Tomato Blogs



Michael Solovay on Zillow