Luxurious Condo Residences & Condo Towers In Miami, Florida
Manila of Philippines is the most densely populated city and Miami of Florida is on the path of becoming like it; especially in terms of providing buyers what they are willing to shell out according to a square feet of prime real estate for Luxurious condo residences and condo towers.
After being on the top of the market, this magic city-Miami is still cheaper. In case of residences at Miami Beach, it starts from Juno Beach’s Bay at $241 which is least expensive upto averaging more than $2500 at Miami Beach Edition; between these ranges there are some luxurious condo residences at Maria South Beach worth $1700, at Regalia of $1541 to $441 at Parque Towers, and many more- according to researchers of CraneSpotters.com and CondoVultures.com.
Prestige of Miami is growing day by day as a world city because of which demand and price of luxurious condo residences are increasing. Approximately 7886 proposed units of Condo Towers are to be constructed because of increasing demand of buyers. In their various phases the projects have represented well over 170 towers and more than 2000 units.
According to an analysis of The Real Deal there is a co-relation between per-square-foot cost and the number of units. Nearly half of 22 have fewer than 100 units out of 46 projects in pre-construction properties of miami.
Luxurious Condo Residences
From 11 most expensive towers two have more than 100 units: Oceana Key Biscayne and Oceana Bal Harbour with 154 and 260 luxurious Condo residences units respectively. And their per square foot prices are $1700 and $1500 respectively.
Terra’s Condo Towers with 18 floors is smaller among all towers mentioned in given chart with 10 units on slightly less per square foot price at $2592.
Proposed Luxurious condo residences and Condo Towers in Greater Downtown Miami starts from average per square foot price $1200 at One Thousand Museum up to $370 at Bay House have projects for 99 units and 164 units respectively. The biggest project is Paraiso Bay in Downtown Miami with 1000 units with average per square foot price of $525 . And there are several project in greater downtown miami which are under construction or newly constructed.
From these pre-constructed Condo projects in Miami Florida’s; top 10 projects are in Miami Beach, Sunny Isles Beach, Key Biscayne and Bal Harbour. Project in Greater Downtown Miami are luxurious and also numerous in number .
Locations of both City and Ocean frontage are influencing costs
Project in Greater Downtown Miami
Distance of Juno Beach from North Miami is 85 miles, because of which project of Bay Colony is at the bottom of list with average per square foot price of $241, lowest in comparison to other proposed Project in Greater Downtown Miami .
After Bay Colony, second cheapest project is H3 in Hollywood/Hallandale Beach. Both Bay Colony and H3 will have fitness centers, pools, clubhouses and spas just like Edition and Glass-which are most expensive propose Condo Towers as luxurious condo residences.
Veronica Cervera, president of Cervera Real Estate, who is handling sales at 321 Ocean Drive in Miami Beach’s chic SoFi neighborhood said “Given the global demand for Miami, we are priced well below cities like London, Paris and New York.”
Paraiso Bay project in Greater Downtown Miami like luxurious condo residences ( condo towers ) has largest number of floors among those listed in list, i.e. 165 floors with average per square foot of $525.
“Miami has become every bit the world gateway city that New York is, and buyers are not intimidated by high price,.” said Schrager, whose last project was 17 years ago in South Florida- The Delano Hotel.