If you are unsure of residing or even just traveling to Florida, then I will give you some input and advice. From my personal experiences with other states and countries, I have to say that Florida is by far the most well rounded when it comes to a balance between working hard and having fun. As a native South Floridian, my lifestyle is full of good weather, great entertainment, and amazing scenery. To give you an idea on what a usual weekend is composed of, then let me give you an example.
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Reason One: Boca Raton has developed a vast Infrastructure system that contains a very large amount of amenities like parks, golf courses, tennis courts, and good transportation system for its relatively spaced out population is the reason why it towers when it comes to infrastructure compared to Dade and Broward County.
We are seeing that Brickell (the Wall Street equivalent for Miami) is becoming a big center for hotels and secondary homes, which shows that an influx of employees working in the financial district are flooding to downtown Miami. With the influx of new people to downtown, many luxury condos that provide the best of service like Icon Brickell, St. Luis or Bristol Tower at Brickell are becoming very desirable places to live.
Since the real estate crash that we have experienced during the end of 2007 globally, the South Florida real estate market has steadily rebounded. Ever since prices for properties around South Florida (the United States in general) have fallen since the real estate crash of 2007, smart investors and foreigners looking for luxury properties started buying units in new buildings in developing areas like Sunny Isles Beach. Like a cascade effect, foreigners from around the world started to see the potential of the emerging luxury buildings via other foreigners, which sparked the growth of appreciation and prices in Miami real estate. This principle can be seen in any luxury area with many new constructions, such as Sunny Isles and South beach, where foreigners re looking for luxury properties and active developers are fueling the growth of purchases in many luxury condos and homes. For instance, Turnberry Ocean Colony condos are almost sold out due to popularity, while One Bal Harbour condos for sale and St. Regis condos for sale are selling for record prices. The problem I see with this is that this type of price growth will not last forever. With a dynamic global market, will these prices continue to rise and appreciate?
After the MIAMI real estate market had rebounded to a level compared to 2005, with luxury real estate outperforming this threshold about 15%, more and more people are starting to look for the value of real estate. Where do we find it? Look to Fort Lauderdale condos for sale. Luxury condos in such buildings as Europa by the Sea, Aquazul, or the Palms Fort Lauderdale still have value in them. For example, Penthouse 31A at the Palms was sold 10 years ago for 3 million, while now the asking price is 2.5 mil. The same picture is to be seen at Europa by the Sea condo, where Penthouse 1602 was sold around 3.5 mil in 2007, with the asking price now ranging around 2.5 mil. For Penthouse 1601, the price is even lower at 2.2 million with 7,000 sq. ft. of A/C space right on the ocean.
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