Miami Beach Condos Building In Numbers

The feeling about the Miami Beach condo market this year is somewhat in shaky yet, hopefuls never gave up. As the home sale market plummeted down the drain the Condo building projects skyrocketed from out of nowhere. Is it just a trend or the market has gone gaga? In the recent news forecast on real estate market nationwide is on the lee low, personally I blame it in the country’s economy and decision making of the officials but I think whatever my view on it, nothing is going to change. As the surging market demands goes way higher the market input goes the other way, thus making it hard for brokers and realtors to determine which trend to follow.

In Miami Beach, the condo demand is just on the average and the buyers market is not as full as it used to be although experts have considered this year a difficult market for any real estate-related businesses. Miami Beach condominiums prides itself because for more than a decade now they have never fail to impress the market, please this year they are going to another strategy and that is to build, build and guess what build. Right now the number of condo units listed is more than 20,000 and reports are predicting there could be more in store. It is obvious that residential markets is going downward spiral and foreclosure rates Are higher than it have ever been in many years. Banks are benefiting to this trend and home owners are being cautious on what the market forecast will be.

I noticed that high-risers have been built in a continuous basis it is a usual sight but if this continues we’ll be witnessing overbuilding in front of our eyes. Prices of condos are higher than residential homes, because for one they are considering other factors in pricing these units. Like for example the place, the view, the commercial interest, the business side of it and the demand, factors are important and it dictates everything from demand to price rating. This year the prices are higher and the numbers of units are even more higher which takes us to the residential real estate’s market problems.

Miami Beach condo has the highest demand in any city in the state of Florida, because it is a tourism hot spot and people loves the beaches, the nightlife and of course the way of living in the tropical Miami Beach. Celebrities love the spot and investors loves to invest in the place. So is that an explanation why Miami Beach condos are being built in numbers? We just don’t know, whatever the reason behind it, it’s something realtors and experts have a concern in. The unusual volume of units that are keep getting listed gives experts the traditional “scratch in the head” so to speak.

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