The city of Miami is popularly known as the 'Gateway to the Americas'. This is significantly due to the fact that the city serves as a major transportation and commercial hub, as well as being famous for a melting pot of varied cultures and races, with a significant number of North American, Caribbean , South American, African and Latin American cultures and traditions.

Because of its significant Spanish speaking population, as well as established economic and cultural ties to Latin America, it is known as a premier financial hub for the Hispanic world.

This metropolitan area is also a world-class port city, both for serving the logistical cargo requirements of the region, as well as being the cruise ship destination in the world. A lot of tourists and investors from all over the world come to Miami every year, to savor the city's eclectic mix of cultures and traditions, as well as to invest in it's property and commercial markets.

The Condo Boom Is Spreading To Once Neglected Areas

The boom in the development of condominium units in this city has now set it sights not just on the central part of the city, but in working class neighborhoods too. Formerly blue-collar districts such as Overtown, Little Haiti and Liberty City are already buzzing with building activity, and these areas have also become the popular alternative for those who wish to own a condo here, but risk paying a stiff price for it. Most of the upscale developments are seen in posh areas like Miami Beach, Fisher Island and nearby districts.

There May Be A Shortfall In Available Units Soon

Many property analysts predict that a future shortage in the number of condos for sale, however, it's really quite difficult to make an exact forecast. The rapid surge in the development of condominiums here has redesigned the city's skyline, as well as provided jobs to a lot of people.

Currently, many developments are on the verge of completion, which aim to provide the housing market with everything from relatively inexpensive studio-type condo units to super-exclusive upscale units that offer ocean views and exclusive and upmarket facilities. When the price began to rise even for the smallest units due to the increasing demand, the local housing market consequently opened up for the development of a large number of more exclusive luxury condos.

These Units Have Risen In Value, And Price As Well

On famous Miami Beach, the largest factor for rising condo prices is determined by the most highly demanded location of the property. Some of the most pricey units on the market block here are mainly in the Miami Four Season Residences.

As of 2005, this lavish complex has offered units at starting prices ranging from slightly below $ 700,000, up to around $ 6 million above. A lot of these units have designs which are uniquely European styles, and provide elegant amenities like exclusive gyms, a health spa, and wine and cigar lounges.

In recent years, the number of new condo developments has been dizzying. It may seem that the real estate market is showing a preference to these types of housing options, rather than on other types of dwellings, and this is chiefly for a lot of reasons.

These housing units are seen as an alternative to owning single family homes, particularly in a metropolitan area where open space for new developments are quite scarce. They are also offer a more convenient form of home ownership, and are strategically built close to shopping centers, high-rise offices, malls, dining and entertainment facilities.


Vanessa Arellano Doctor

Miami Real Estate

The city of Miami has plenty to offer such as its pristine beaches and warm weather. Actually, there are lots of people who love to visit the city in order to explore the beauty of it.

But there are also lots of people who are not satisfied with just visiting the city, they prefer to stay and have they very own home in Miami. There are different properties or homes that you can purchase in Miami real estate such as beachfront house. There are plenty of people who have homes with a beachfront. Actually, it is an excellent choice since you will have a perfect view, near the beach so you can easily enjoy the beach, white sand and the weather.

These houses are either sold or being sold with large amount of money. But if you have the guts, why not have one. There is another alternative if you really want to stay and live in Miami, and this is buying a condominium.

If you are looking for a condo in Miami, you have plenty of options to choose from. So it is best to allot few of your time in finding the right condo for you. Of course, there are certain features that you want in a place to stay, so jot them down and look for condo that can fit your criteria.

Since there are options to choose from, find the one that can attract you. When choosing a condo, you have look at the place do you like it, does it comfortable enough for you, it the place safe enough, does it pleases you, these are few of the questions that you need to answer while seeking for the condo that you want.

If it is your first time in Miami real estate, hiring a real estate agent is a good option. Of course, you need someone to assist and guide you; the realtor can do that for you. But you have to hire the right one. Assign some of your time in seeking the right realtor, ask your family or friends for recommendations, they may have worked with a realtor before that gave them satisfaction.

The realtor knows the factors that you should look up into in finding the right condo. It is not only the physical aspect that you should check out. The other factor to check out is the services that they can provide you and their other tenants. These services that they should provide are cleaning services, laundry services, maintenance services, repair services, and so on.

You may have been satisfied with the physical aspect and the services they provide, but there is still one thing that you should check out, this is the rules and regulations of the building. So it is best to check everything first before you buy a condo with them, you have to make sure that you can abide with the rules and regulations.

The last factor that you should look into is the price. You may like the physical aspect, love the services they provide, you can abide with the rules and regulations but can you afford to buy it. This is why settling your finances first are important. If you have the means to have it, then enjoy your condo unit at Miami real estate.

Eliza Maledevic Ayson

The city of Miami is one of the most diverse and colorful metropolitan areas in the US. The city is known as the “Gateway to the Americas” and prides itself in having a colorful sprinkling of nationalities from various parts of the world.

Although not much is left of the old Miami skyline, as more and more residential and commercial developments have sprung up to change the face of the city's landscape. The luxury apartment sector here has been generally established to be only within walking distance of the ocean, to afford owners and renters better and more lucrative views.


Apartment Market Conditions Here

Although the luxury rental apartment sector is seeing a boom these days, the problem is that for average folks and families, finding a more affordable and relatively inexpensive apartment here is quite hard. In as early as May of 2001, the area saw a mere 2% vacancy rate for all kinds of apartments, as compared to May 2000, when the vacancy rate was quite up at 2.4%, according to local real estate analysts.

Real estate industry observers say that there is an imminent apartment shortage in Miami-Dade, and they estimate that the county will need an additional 4,380 units per year between the next five years. However, But there is little chance those units will be built, based on the conditions in the past four years.

For instance, from 1997 through 2000, an average of 1,449 units were built per year in Miami-Dade. At present, the average market-rate, one-bedroom apartment in Miami-Dade rents for $790 per month, and rental rates are expected to rise up, on average about 3% in 2001.

In contrast, at Brickell View for example, a one-bedroom will go for around $1,350. In looking at the local MLS listings, taking as a sample apartments/condos with 2 bedrooms and 2 bathrooms, it was found out that there are a wide range of rent prices, and these will be dependent on the location of this units. In Aventura, an area which is largely made up of condo developments, it was found that 328 of such units had rental prices of about $1,200 to $5,250.

How To Find The Best Apartment Options Here

To make your apartment hunting task a quite easier process, property market insiders say that you look early, don’t delay, and get the assistance of a real estate agent that specializes in rentals. You could also check on the area newspaper's s classified ads, or on property Web sites like SellHousesMiami.com, Craigslist, the Miami Herald, and others. It would also be good if you begin your apartment search at least 30 days before the date you’re planning to move, as this will help you find one in a more relaxed manner.

Another reason is that, if there’s an application with the apartment complex or condominium association, it may generally take around an average 10-20 days to get an approval, so the sooner the application the better. You also need to make a list of the important items you need to know, like availability of parking space,availability of a washer/dryer in the premises, the regulations regarding owning pets, and the minimum length of contract.

In addition, also ask questions about application fees, and security deposits. Apartment and condo associations in this city often require renters or buyers an application fee that can be around $150, and many of them also currently require you to shell out a refundable deposit, in case you incur in damages or alterations to common areas.


Vanessa Arellano Doctor
Miami Real Estate

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