As hard as it may look to understand, revealed the recent macroeconomic statistic plaguing South Florida, results are going up that the comfort condo resale market across Miami-Dade County little bit behind for the time being.
According to a data analysis, foreign investors with strong currencies balanced by a dispersion of healthy and wealthy domestic buyers acquired more $1 million of condos during 2011 as compared to the last year of real estate boom of the South Florida in 2006.
Investors bought about 590 condos of costing $1 million for each during 2011 after obtaining below 500 high-priced units during 2006.
According to time and situation, luxury condo resale activity in 2011 results a 29% increase as compared to 2010 when about 460 units were traded for $1 million each condo across Miami-Dade.
A report reveals that additional 100 luxury condos are under agreement for 2012, which are waiting for trading.
The records of the most expensive homes and condo resale during 2011 were higher when the penthouse across the Setai Resort and Residences across Miami Beach were sold for $21.5 million.
A couple of units in towers around South Pointe Drive across Miami Beaches which is South of 5th neighborhood rounded out the top 3 rankings for the most expensive priced resale in 2011.
In a separate trading, home purchasers paid about $11.5 million for a luxury penthouse across the Apogee condominium as well as paid about $10.6 million for a high-floor unit around the Continuum of South Beach, correspondingly.
The reappearance of the luxury resale market has encouraged an improving number of investors, who were previously not interested to follow the lower prices from the last 5 years of the real estate crash in order to put about 1,000 condos in the resale market with a reasonable price of $1 million each.
Around 20 ultra-luxury condo units have been offered for resale in the Miami real estate market which costs about $10 million to $38 million for each condo according investor’s financial capacity.
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