Miami Beach Record Breaking Condo Sale
Cash buyers and heavy international demand is high, values are UP and Inventory is low...these are great conditions for Miami Beach Real Estate
Miami Beach, Fl (PRWEB) October 07, 2014
Investors, buyers and developers in Miami Beach real estate have seen vast growth since the city rebounded from its downturn just a few years ago. TheKleerTeam and FGD Group at Fortune International Realty just sold a remodeled condo at the South Pointe Tower in Miami Beach’s South of Fifth neighborhood, (SoBe) representing the highest priced sale in the building. The influx of International buyers from Brazil, Argentina, Russia, and many Latin American countries has increased by nearly a third and real estate sales have more than tripled in the past two years, often at record breaking prices.
For example, an all cash transaction just sold for the South Pointe Tower condominium #1204 at $1.9 million ($1,055/S.F.) which represents a close to 35% price increase in just two years. This transaction also marks a constant and strong market demand for Miami Beach real estate, emphasizing that Brazilian buyers in particular are willing to pay a premium price. This same condominium sold for approximately 50% less during the last Real Estate market downturn in 2009-2010. One of the top factors contributing to the health and upturn of the market includes a lack of inventory and heavy demand for luxury Miami Beach condos from foreign buyers. Sellers of Miami Beach real estate are listing for sale at higher prices, while buyers are flooding the market with cash.
About TheKleerTeam and FGD Group at Fortune International Realty
Listing brokers Fabian Garcia-Diaz & Allan Kleer are both Master Brokers and specialize in selling luxury waterfront properties in Miami Beach, Bal Harbour, Sunny Isles Beach, and South Beach for more than 30 years. With a proven track record of over $1 Billion in Closed Sales to International clients and many celebrities, both agents comprise Greater Miami's Top Producing Real Estate Teams.