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New Pre-construction Condo Projects in Miami! A 2014 Panorama!

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We’re saying goodbye to a year that saw a spectacular recovery of Miami, and its consolidation as one of the most wanted real estate markets in the US! Throughout the year, 35 new condos were started, and inventories keep on shortening and shrinking. Moreover, 83 new buildings are awaiting authorization to start!

But there were significant and key differences between the sales boom of this year and the condo boom of precedent years. This is important to say, because many fear this is the start of another condo crash, due to the construction fueling new inventory. The most significant difference is that conditions to buy are now much stricter, taking into account that buyers most count on the possibility to make 50% down payments before closing. This is important as a preventing measure to secure the sustainability of the projects.

The studies and researches published in 2013 show that international buyers are the most important force that fuels this year’s growth. These buyers have paid cash mostly, and they represent 90% of the buyers in 2012, according to the Wall Street Journal. This is a very high percentage and shows exactly how overseas buyers want to take advantage of current conditions.

With interesting projects to be launched, and more great opportunities to take, 2014 will sure be a year of feast at Miami’s real estate market, and a year also to consolidate all the great results during this 2013! Happy New Year to all, and cheers to success!

Happy New Year Miami

New Pre-construction Condo Projects in Miami! A 2014 Panorama!

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