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Miami condominiums attract buyers from all over the world, and for good reason. Due to its beautiful beaches, breathtaking water views, and picturesque sunsets, Miami has become one of the nation’s hottest real estate markets. Many real estate buyers opt to purchase a condominium over a house due to the conveniences and amenities that owning a condo has to offer. Our Miami condos for sale page is your source for real estate sales listings in Miami’s top condominium developments. Whether you’re searching for oceanfront condominiums for sale, spacious townhomes for sale, lofts for sale, or condos for sale near me, you are sure to find on our website apartments for sale that suit your style and needs. Additionally, if you are in the market to buy a Miami condominium for investment purposes or to occupy it as a primary residence or vacation home, you are sure to find on this site options for apartments and condos for sale that meet your criteria.
Prices can go as high as $50 million for lavish beach-front properties with the most spectacular ocean and city views.
Buyers like the idea of buying during the pre-construction phase for obvious reasons: they’re locking in at the lowest price and will likely benefit from a decent amount of appreciation once the units are complete and full payment is due. Developers typically hike up the price as much as 25 percent between pre-construction and building completion, so that’s a hefty chunk of change that can be built up in equity in the meantime.
Condo developers are forecasting the construction of 252 condo buildings in the aforementioned area consisting of a total of approximately 36,000 units in this cycle alone. Buyers can expect the buildings to average around 23 stories with 140 units.
Coming in second is the more low-key area of Broward County, where condo buildings will average about 10 stories tall with less than 100 units each. Developers are anticipating the construction of 93 new condominium buildings with over 9,000 units in this section of the tri-county area.
Palm Beach also attracts international buyers, though to a lesser degree compared to Miami. Developers are expecting to have about 55 new buildings constructed this cycle, consisting of a total of 3,800 units. New condo buildings in this touristy area will average about 13 stories and under 70 units each.
Keep in mind, of course, that these are forecasted numbers, and can change from now until construction. Usually, numbers like these tend to decrease for all sorts of reasons, including advertising campaigns that run rampant during the pre-sale phase.
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Opendoor, the nation’s fastest-growing online real estate marketplace — which is radically simplifying the way people buy and sell homes — today announced a $400M investment from the SoftBank Vision Fund. The company also announced it has secured access to more than $2B in debt financing from top banks. As it rapidly expands to new markets across the U.S., Opendoor will use the funds to accelerate development of the first technology platform to make it easier to buy, sell and trade-in homes with one seamless transaction. SoftBank Investment Advisers' Jeffrey Housenbold will join the Opendoor board of directors.
The most expensive real-estate in America just became a little less expensive
According to RedFin, the real-estate brokerage and research firm, fully 12 percent of homes listed for $10 million or more saw a price drop in 2018 — double the levels of 2016 and 2015. Just over 500 listings in the U.S. had a combined price cut of $1 billion in the second quarter, according to RedFin.
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Some of the price cuts have reached tens of millions of dollars, according to the listing. The Ziff family estate in Manalapan Florida cut its price in May by $27 million, from $165 million to $138 million. That follows a previous price cut, from $195 million last year — so it's price has dropped by $57 million over the past year.
A 10-bedroom mansion on Miami Beach's posh Star Island cut its price by $17 million in May, from $65 million to $48 million. A giant apartment at New York's Sherry Netherland had its price cut by $18 million, falling from $86 million to $68 million.
The cuts follow a spate of even bigger cuts earlier this year. The $250 million mansion in Bel Air California known as "The Billionaire" became America's most expensive listing when it came onto the market for $250 million in 2017. In April, the price was cut by a massive $62 million, to $188 million.
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