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New Luxury Condos in Downtown Miami Coming Their Way in 2014!

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23 Biscayne Bay Condo at Edgewater Waterfront We had published before that there are currently over 80 condominium towers proposed for the whole Miami area, and that 35 are under construction right now. In particular to an area that has been the center of attraction for buyers in recent years, Greater Downtown Miami including Brickell condos and Brickell Key, there are now 41 proposed new luxury condos to be built in the upcoming year, which represents a very solid figure to show prosperity and overcoming of past challenges.

Until 2011, the building activity was dormant in Miami. No condos were built, waiting for buyers to take a change on highly reduced pricings of the existing units in the condo inventory. There was a great surplus still out of the more than 22,000 units added to the Downtown area during the condo boom. But in 2013, fueled by international demand, the first new Downtown Miami condo was delivered by developer Carlos Melo, the 23 Biscayne Bay at the beautiful Edgewater waterfront location illustrated by the picture on this post. The success of Melo with this condominium is mirrored in the fact that 100% of the building is completely sold, and 90% of it is being used by owners as a passive income source through rentals. This seemed to feed the interest of other developers to launch new and exciting condos.

The sum of all Downtown pre-construction condos is of 12,100, which are programmed to be delivered in the next three years to come. This is surely away from the amount of units available before, and will still mean a reserved inventory, only for those who choose to make investments in one of the fastest growing real estate markets in the World!

New Luxury Condos in Downtown Miami Coming Their Way in 2014!

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