Miami Beach has a rich history as a trend setting arts center, from the world famous nightclubs of the 50's, to the rich cultural life of today's modern South Beach. The City of Miami Beach has an identity that is intrinsically linked to the arts, and today our entertainment, production and arts communities are stronger than ever. Miami Beach is truly a major international entertainment and cultural destination.The 1980s and early '90s brought a multi-billion dollar infusion of investment capital that produced a beautiful new Miami downtown skyline, a reborn Miami Beach, a modernized transportation infrastructure and a new way of life that features the arts, culture, sports and entertainment, all with an international accent.
Greater Miami and the City of Miami Beach continue to be an international mecca for travel, business and to establish a home.
The Miami Beach real estate market was hit quite hard by the nationwide economic recession, as well as the collapse of the local market and the spike in foreclosures throughout Southern Florida. The residential portions of Miami Beach are mainly composed of condominiums and higher-end properties, which meant that the recession affected the real estate market in a different way than many other portions of the Sunshine State and the American South. The condo market recently took a different direction, thanks to a power play by the Starwood Capital Group and reported by an October 8, 2009 article in the Miami Herald. The article, written by Monica Hatcher, stated that “South Florida’s battered condo market just got a major new player. Starwood Capital Group’s deal to acquire a big stake in a basket of condo construction loans and projects of failed Corus Bankshares from the Federal Deposit Insurance Corporation puts the Greenwich, Conn.-based private equity giant in charge of roughly 21 percent of the unsold condo inventory in greater downtown Miami.”
As well as Miami Beach homes homes for sale. This area is very popular but, because it is small area-wise, it can be expensive on a per square foot basis. Many individuals opt for condominiums or apartments as living space in this area and, because of that, apartments in Miami Beach comprise a huge range of options, from very simple and basic models to very upscale properties. These apartments are sometimes located in high-rise buildings and sometimes located in the more historic, Art Deco style buildings that are so associated with this area of the nation.Finding Miami Beach apartments for sale
will almost certainly be easier with the help of a Miami Beach realtor. This is a competitive market and, because there are a lot of buyers, what’s on the market doesn’t tend to stay there for long, especially if it’s a solid deal. There are numerous high-end properties to be found in this area, many of which offer access to the beach or to facilities for watercraft. These oceanfront properties obviously come at a premium. Many of them have businesses, including restaurants and bars, located on the premises, which provide the spaces where many residents mingle and get to know one another.
has a lot of high rise developments, and the Miami Beach apartments for sale oftentimes include features that would be very expensive in other markets but which are more or less standard in this one. Balconies, for instance, that provide very expansive views, are found on a great many of these properties. Even those which are not located in high rises oftentimes have attached, outdoor space. Swimming pools and other amenities are available at some of the complexes, as well, and the weather is almost always very warm.
An article by Marc Jablon in the Huliq News noted that high-end Miami Beach homes for sale have been in serious trouble recently. According to the article, “While the sales figures of low and middle tier homes in South Florida continue their rapid upward climb, and their prices creep up, sales and prices for high end, luxury homes continue to decline. Prices and sales figures for these high end homes are so far down that, according to Fortune Magazine, lenders, in addition to sellers, are desperately searching for exit strategies. Many consider auction sales the quickest way to offload these white elephants.
