Amid construction surge, experts call for oversight of sinking towers in South Florida

When I meander past the shimmering towers of Sunny Isles Beach, I can’t help but feel the palpable energy that these elegant structures radiate. The beachfront lifestyle, a delicate combination of luxury and leisure, draws people in, promising unparalleled views of the Atlantic and quick access to the vibrant Miami scene. Yet, as I observe the ongoing development and construction boom, there’s an underlying current—a tug at the heartstrings of locals and potential buyers alike. An unshakeable concern murmurs through conversations about the stability of these towers, particularly following recent events that have prompted experts to advocate for increased monitoring of real estate structures in South Florida.

The allure of beachfront living remains undeniable. However, the stark reality is that, amid this construction frenzy, some buildings are showing early signs of distress. In Sunny Isles Beach, where flocks of new luxury condos are popping up like mushrooms after a rain, we have seen how the landscape changes rapidly—and not always for the better. The architecture of these new high-rises dazzles, with sleek glass facades reflecting the sunlight, but they aren’t immune to the geological quirks of our region. It’s here that a construction boom can sometimes mask deeper issues, including potential settling and sinking phenomena that could impact the very foundations of these towers.

Living in this area, you learn to appreciate the finite details. The spectacular views from a unit on the 15th floor can be breathtaking, but what lies beneath? How do the architects and engineers ensure the safety of these stunning residences that face the relentless tide? Conversations with local residents reveal a growing apprehension over the structural integrity of towers—a concern that feels genuine in this tropical paradise we fiercely protect. The ocean plays a dual role, offering beauty and tranquility but simultaneously posing a silent threat with its erosive power.

As the sun dips into the ocean, bathing the units in golden light, the lobby buzzes with activity. Residents enjoy the lavish amenities—swimming pools, outdoor kitchens, and fitness centers—but there’s more happening behind the scenes. Local leaders have been calling for robust monitoring protocols to ensure these structures are safe for investment and livability. The knowledge that building safety is as important as luxurious finishes can alter buyer behavior dramatically.

Buyers are increasingly prioritizing structural safety and longevity over aesthetics alone. It’s a shift I’ve noticed during open houses. While the gleaming interiors and sweeping ocean views draw crowds, discussions often drift toward the structural policies that ensure a secure living environment. The presence of engineered solutions and adherence to oversight is no longer just a bonus; it’s becoming a prerequisite in our discerning market.

Notably, properties like the recently constructed 17000 Collins Avenue have generated buzz, with offerings that boast high-end materials and stunning views. Yet beneath the surface glamour, concerns can simmer. Locals are asking, “How are these towers monitored? What happens if there are telltale signs of sinking?” The conversations may veer into animated discussions about how widespread monitoring could provide peace of mind for current residents and an informed perspective for potential buyers.

The juxtaposition of old and new in Sunny Isles Beach is striking. Historic buildings, once the jewels of this coastal community, now stand beside modern skyscrapers that redefine the skyline. There’s a distinct beauty to the classic architecture that often feels more timeless; these older buildings have weathered storms—both literally and figuratively. I often wonder how many new buyers appreciate the craftsmanship of the past versus the allure of the sleek new towers. It’s a conversation that continues in cafes and along the beachfront.

The heightened awareness surrounding building stability is also becoming part of the local identity. I recently noticed a group gathered outside a construction site, chatting thoughtfully about the implications of new developments in the area. It’s heartening to see the community engage—people feeling empowered to ensure their homes aren’t just places to live, but secure sanctuaries. Education is key, and meetings held by community leaders about structural safety are becoming more common, fostering a sense of togetherness and shared responsibility for our neighborhood.

Such community engagement also underscores the importance of transparency in the real estate market. Buyers need to feel secure in knowing that the towers they are considering investing in are being monitored diligently. With ongoing certifications and reports becoming part of the selling process, a more informed buyer emerges, one who is willing to ask tough questions and demand answers that can safeguard their investment.

As the sun dips below the horizon, casting long shadows across Sunny Isles Beach, one cannot ignore the changing mood around real estate here. The delicate balance between growth and safety is a dialogue that must continue, as there’s a luxury in knowing your home is as structurally sound as it is visually stunning. People want to bask not just in the beauty of the ocean view but in the security of their investment, conscious of both history and future.

In the heart of this vibrant community, those living in or considering an investment in Sunny Isles Beach and Miami Beach must remain vigilant. The construction boom is a call for us all to engage meaningfully with the realities of our environment, ensuring that the paradise we love remains solid beneath our feet. Whether lounging by the pool or sipping coffee on a balcony overlooking the shore, the conversation around safety and monitoring will help shape the bright, secure future we all hope to see.

Florida keeps packing people and buildings on barrier islands. It comes at a high cost – Miami Herald

Walking along the scenic boardwalk in Sunny Isles Beach, it’s easy to get caught up in the beauty surrounding me. The shimmering Atlantic Ocean sparkles under the sun, and the gentle sound of waves lapping against the shore is both soothing and invigorating. However, amidst this picturesque setting, there’s an unmistakable tension that locals can sense—an ever-growing number of high-rises and an ever-burgeoning population filling the barrier island. This dense development, while economically beneficial to many, comes at a considerable cost that we are only beginning to understand.

Take a stroll down Collins Avenue, and you’ll see it firsthand. Towering luxury condos like the Porsche Design Tower and the Estates at Acqualina appear almost defiantly against the horizon. Each structure stands as a testament to both architectural ambition and the relentless human desire for oceanfront living. Buyers are attracted not only by the alluring ocean views but also by amenities such as expansive pools, wellness centers, and private beach access. Yet, as these buildings rise, so do the questions about sustainability and the long-term viability of living in such environments.

In Miami Beach, the situation is similarly dynamic. Buildings like the Faena Hotel and the lavish Edition Hotel speak to a lifestyle that’s hard to resist. But with every new project, there’s a collective sigh from residents who wonder about the environmental implications. Are we simply cramming more people and buildings onto a delicate ecosystem? The beaches are beautiful but fragile. The reality is that every new condo means more traffic, more strain on local resources, and more noise pollution. The sweet sound of the ocean can sometimes be drowned out by construction and urban hustle.

One of the whispers circulating among locals is that this relentless growth could soon overshadow the very reasons many of us fell in love with these beach communities in the first place: their charm, local character, and a sense of space. The real estate boom is not just about selling property; it’s about community and lifestyle. But at what point does the influx of luxury condos become too much? The balance between development and preservation is growingly delicate, especially given the area’s vulnerability to sea-level rise.

The architectural styles that dominate our skyline tell a stark story. Many of the newer structures feature glass facades that seem to shimmer, often drawing admiration for their modern aesthetic. However, some of us find ourselves mourning the simpler, more intimate buildings from decades past that fostered a sense of connection to our environment. There’s a profound joy in a slightly older low-rise building where neighbors actually get to know each other, share moments, and build a tight-knit community. In contrast, the sleek, tall towers seem to isolate their inhabitants, with residents seldom engaging beyond their chic lobbies.

Walking through the polished interiors of contemporary spaces, one can’t help but notice the overwhelming emphasis on opulence—marble floors, high ceilings, and expansive glass walls that open to breathtaking ocean views. However, as beautiful as these finishes may be, they often come at a high price for buyers. Many struggle with the financial burden of living in these elite spaces while contemplating what that lifestyle truly offers. Are they trading convenience for a sense of community?

The influx of wealthy buyers has dramatically changed the calculus for local families and long-time residents. For them, Sunny Isles Beach and Miami Beach used to represent an attainable dream with its charming beachfront cottages and modest apartments. Now, as prices skyrocket due to luxury developments, many find themselves pushed out. The very fabric of our neighborhoods is at risk of fraying, threatening the vibrant local culture that gives our communities their unique flavor.

What does this mean for the future? Local parks and few remaining community spaces are seeing more foot traffic, a sign that many are searching for some semblance of connection amid the concrete jungle. People are increasingly valuing places where they can gather, engage, and feel part of a community—a reaction against their reality of living more isolated lives in high-rises that could barely be called homes.

Furthermore, environmental concerns loom larger than ever. As we pack more buildings onto these barrier islands, issues surrounding water management, waste disposal, and protecting our natural surroundings become increasingly pressing. Flooding is no longer just an occasional inconvenience; it’s a real threat to both property and quality of life, especially in low-lying areas. Residents are paying not just in dollars but also in the very essence of why they chose this location in the first place.

Sure, the allure of oceanfront luxury is undeniable. The lifestyle promises sun-soaked days, glistening waves, and endless entertainment options. Yet, this comes with stretching resources and the inevitable pressure on our infrastructure. As locals, we must continue raising our voices, advocating for more sustainable, thoughtful development. We need to remember that behind every shiny new condo, there’s a community of people who deserve a voice.

Watching the rise of yet another luxury tower can evoke mixed feelings; excitement tinged with apprehension. As Sunny Isles Beach and Miami Beach evolve, one has to ask: What kind of future are we building? Are we genuinely enriching our communities or merely padding fortunes through concrete? The answers will shape our neighborhoods for generations to come. The balance between progress and preservation will ultimately reflect our values and the kind of community we wish to foster.

Melissa Barragan Presents A Spacious Porsche Design Tower Residence In Sunny Isles Beach – hauteresidence.com

Walking along the sun-drenched avenue of Sunny Isles Beach, you can’t help but be captivated by the unique architectural wonder that is the Porsche Design Tower. This isn’t just another luxury residence; it feels like a symphony of sophistication and innovation, appealing to those who appreciate a seamless blend of style and functionality. The atmosphere here is vibrant, with the ocean breeze tangling with the scent of nearby eateries, mingling with the aspirations of prospective buyers who stroll past, drawn by the promise of contemporary elegance.

Melissa Barragan specializes in showcasing these extraordinary properties, and her presentation of a spacious residence in the Porsche Design Tower is especially alluring. As you approach this tower, the cantilevered design creates a striking silhouette against the skyline while inviting intrigue and admiration from every angle. Residents inside this stunning building truly enjoy a unique lifestyle that speaks to both luxury and convenience, marking their address as a significant investment in quality living.

The Porsche Design Tower stands out in an already competitive Sunny Isles Beach real estate market, not just for its iconic brand association but for the cutting-edge features it offers. Imagine descending from your apartment in a car lift, bringing your vehicle directly to your residence floor. This isn’t a mere convenience; it’s a revolution in living, designed for those who value time and efficiency as much as aesthetics. The layouts within these residences have been meticulously crafted, offering expansive floor plans with floor-to-ceiling windows that yield breathtaking views of the Atlantic Ocean.

In this neighborhood, community and lifestyle intertwine beautifully. The Porsche Design Tower not only offers private beach access but also a suite of upscale amenities that redefine the concept of home. A state-of-the-art fitness center overlooks the ocean, offering morning gym-goers an energizing view, while the pool deck provides a serene retreat for afternoon lounging. The energy of Sunny Isles Beach complements the lifestyle demanded by those who reside in this tower, creating a tapestry of leisure, luxury, and vibrant community life.

From a real estate perspective, understanding buyer behavior in this locale reveals a trend toward valuing both exclusivity and accessibility. Potential buyers are not merely looking for a place to live; they are seeking a lifestyle that reflects their aspirations. With its close proximity to Bal Harbour Shops and an array of gourmet dining options, the Porsche Design Tower is positioned perfectly for residents who live life with both style and substance.

Inside the residences, the luxury is palpable. High-end finishes tell a story of quality, from the Italian cabinetry to the custom-designed fixtures that grace every corner. The open-concept layouts allow for seamless transitions between spaces, catering to those who love entertaining friends or simply enjoying intimate evenings at home. Each residence is an oasis of comfort, where every detail contributes to a harmonious living experience.

When discussing the Porsche Design Tower, one must also consider the sensory details that make Sunny Isles Beach so unique. The soft sound of waves, coupled with the gentle rustle of palm trees, creates an ambiance that is both soothing and invigorating. Walking the nearby beaches, one feels a sense of tranquility that is often elusive in urban life. This natural beauty serves as a perfect backdrop for the modern elegance of the residences, enhancing an already idyllic living experience.

Additionally, the neighborhood’s commitment to maintaining lush landscapes and clean beaches contributes to a sense of pride among residents. There’s a community spirit here that resonates with those who choose to invest in this part of Miami. It’s about being a part of something larger—an exclusive enclave where high-end living meets natural beauty.

The allure of the Porsche Design Tower goes beyond mere aesthetics. It’s about the connections formed within this community, the experiences shared at sunset along the beach, and the friendships fostered over weekends at local cafes. It’s a place where you can have it all: the comfort of luxurious living and the vibrancy of a community that feels alive.

As you explore the possibilities offered by Melissa Barragan in the Porsche Design Tower, you come to understand that this isn’t just a residence; it’s an investment in a lifestyle. A lifestyle filled with beautiful moments, meaningful connections, and the luxury of knowing that home embodies comfort, elegance, and innovation.

In conclusion, if you’re in the market for a property that encapsulates the essence of Sunny Isles Beach, the Porsche Design Tower presents a unique and enticing option. Here, you find a collaborative union of design and lifestyle, wrapped in the natural beauty of the oceanfront. It’s a testament to the forward-thinking ethos that defines this vibrant community, making it not only a place to live but a place to thrive. After all, what could be more rewarding than living in a space that mirrors both your style and your aspirations?

Florida dominates nation’s luxury real estate market with Larry Page’s Miami estate topping December sales – New York Post

Walking through the sun-drenched avenues of Sunny Isles Beach, the energy is palpable. The glossy towers stretching skyward, reflecting the brilliance of the Atlantic, feel alive with possibility. As I strolled past the shimmering glass facades of these luxury condominiums, I couldn’t help but think about why places like this have become the epicenter of the nation’s luxury real estate market, especially with recent headlines showcasing Larry Page’s stunning Miami estate at the forefront of December sales.

The draw to Sunny Isles and Miami Beach runs deeper than just opulent living spaces. These neighborhoods offer a lifestyle that marries relaxation with the vibrancy of urban life. With its pristine stretches of beach, restaurants boasting world-class cuisine, and a cultural scene that thrives on art and music, it’s easy to see why affluent buyers are flocking here. When I walk along the beach at sunset, watching the sun dip into the horizon, it’s a reminder of the allure that makes this area irresistible.

### A Dive into Design and Layout

Recently, I toured an exceptional unit at one of the newer beachfront developments. The moment I stepped inside, I was struck by the expert craftsmanship. The open-plan layout flows seamlessly from kitchen to living area, bathed in natural light pouring through floor-to-ceiling windows. This is what buyers expect—it’s not just about having a view; it’s about creating a lifestyle.

In coastal properties, layout matters. Floor plans designed with outdoor living in mind, often featuring expansive terraces, allow for entertaining while soaking up ocean breezes. This specific building not only offers panoramic views of the shimmering water but also integrates nature with large, inviting spaces perfect for gatherings. The choice of materials, too, plays a key role. High-end finishes and smart technology packages not only provide a luxury feel but also attract discerning buyers who appreciate the finer things.

Some condominiums in the area have a more traditional appeal, with interiors that might seem a bit dated, while others have embraced a modern aesthetic that speaks to the tastes of today’s buyer. When potential homeowners compare, they often lean towards properties that provide both form and function, realizing that their residence represents more than living space—it’s a statement.

### Aspirations of Buyers

From chatting with local real estate agents and observing the patterns, it’s clear that international buyers are particularly drawn to the market. With South America, Europe, and even parts of Asia represented, the cosmopolitan nature of Miami Beach enhances its appeal. Buyers here aren’t just purchasing a home; they are investing in a lifestyle—one that includes seasonal events, dining experiences, and opportunities for nightlife that capture the essence of vibrant living.

And then there are local buyers—many of whom already appreciate the area’s rhythm and are upgrading to larger spaces or transitioning to the beachside from the bustling city. The trend towards acquiring luxury real estate reflects a longing not merely for grandeur but for a personal haven, a sanctuary where one can escape from the frenetic pace of life.

### Neighborhood Nuances

What I love most about Miami Beach and Sunny Isles is that no two neighborhoods are the same. For example, Sunny Isles tends to attract families, given its safe environment and proximity to top schools, while the South of Fifth area offers more of a nightlife vibe, appealing to young professionals and empty nesters. Each building comes with its own character—each lobby tells a different story, each view evokes a different feeling.

As I walked through the trendy area of Collins Avenue, I noticed the subtle differences in community energy. The sound of ocean waves contrasts peacefully with the hum of a nearby café, where locals share their latest finds or discuss the latest art shows. This rhythm creates an atmosphere that is distinctly Miami, one that thrives on a sense of community even within a luxury framework.

### The Unseen Details

Buyers often remark on the importance of sun exposure in choosing a property. Being able to sip coffee on a balcony that basks in the morning sun is a luxury that adds value. Whether it’s unwinding by the beach or having easy access to waterfront activities, practical aspects often reveal the heart of a property. Many high-end buildings are capitalizing on this with amenities like rooftop pools, lush landscaping, and direct beach access—features that harmonize with the desires of even the most discerning buyer.

The sounds of the beach—a lively, soothing soundtrack—add to the experience of ownership. It’s whispered enjoyment that simply cannot be felt through virtual tours or glossy images of interiors. Living in Sunny Isles or Miami Beach means gaining a front-row seat to the natural beauty that unfolds daily, a privilege that extends well beyond the property lines.

### Conclusion

In this dynamic market, with Larry Page’s recent acquisition as a hallmark of luxury continually evolving, it’s undeniable that Florida is a magnet for high-end real estate. As more buyers recognize the exceptional lifestyle options that areas like Sunny Isles Beach and Miami Beach offer, the market is poised to continue soaring.

Whether you’re drawn by the architecture, the sunlit beaches, or the lively culture, it becomes clear that luxury in South Florida is much more than real estate—it’s about crafting a lifestyle that resonates deeply, a beautiful backdrop for life’s cherished moments. As I gaze over the Atlantic, I’m reminded: this is not just a place to live; it’s a place to thrive.

Sunny Isles Beach Real Estate in 2019

Sunny Isles Beach real estate

Sunny Isles Beach, Florida is a city located on a small barrier island bounded by the Atlantic Ocean on the East side, the Intracoastal Waterway on the West side, Golden Beach on the North and Bal Harbour on the South side. It offers about 2.5 miles of newly built most luxurious oceanfront condos with an average listing price of over a million dollars and ranging on the high end into tens of millions of dollars. Because of its ultra high-end condos, the city has earned several nick names such as ‘The Venice of America’, ‘The Florida’s Riviera’, ‘The Billionaire’s Row’ or ‘The Billionaire’s Beach’.

The concept of “condominium” living has been redefined by the new, brand-named condos offered in Sunny Isles Beach. These are more like private mansion in the skies, serving to the most discrete buyers looking for top amenities, private beaches, 5-star in-house dining, various sports and fun activities and spectacular views – the sunrise and the sunset as well as downtown Miami and the Intracoastal island life. Sunny Isles Beach also offers some of the most pristine single family homes located in an area called Golden Shores, which is situated directly across the street from the beach and offers easy access to major shopping in the area.

Sunny Isles Beach has always been thought of as a great investment community for many reasons – it offers top luxury condos situated directly on the beach, ample parks, warm tropical climate, warm Atlantic ocean waters, diverse culture, fine restaurants and great shopping are all within the short walking distance from your condo. The luxury condominiums turned Sunny Isles Beach into one of the most desirable places to own a home in the country, and you can ensure that Sunny Isles Beach real estate will continue to attract most sophisticated buyers in the world.

If you’re into activities, no matter what your sport of choice is, Sunny Isles Beach has it all – from various beach activities such as parasailing, jet skies, fishing, diving, boating or just sun-bathing – Sunny Isles Beach offers the best of all the worlds!

Although the luxury condo market, in most of the desirable areas such as Aventura, downtown Miami, Miami Beach, Key Biscayne, have experienced a slight drop in value in 2018, Sunny Isles Beach showed a 1 percent increase from the prior year. Year-over-year, the inventory marginally declined 2 percent from 1,541 listings to 1,510 homes for sale on the market.

Housing Marketing Predictions – 2019 – Sunny Isles Beach Florida

Since the area did see a drop in the past years, the area continues to grow which has led local governments to carefully examine and properly assess the real estate taxes and to get the correct outlook and forecasts on the future real estate market values in 2019. However, as of the beginning of 2019, the Miami-Dade continues to see decent gains in property values, mainly due to continued demand for single-family homes in the mid-range markets, where countywide, property values grew 3%.

The market has been very active during the last quarter of 2018 and into the beginning of 2019 which is a good indication for good things to happen in 2019. The higher-end properties however are still going to decline due to market correction in that segment. With the prices coming down 20 to 30 percent lower, the higher-end properties will become attractive again to investors and end users, so it will be a good time to buy again.

Sunny Isles Beach housing trends

The table below, taken from Zillow.com represents the real estate facts and average home values in Sunny Isles Beach.

Sunny Isles Beach Real Estate Facts

Total Homes for Sale: 1,617
Median Home Values Estimate: $405,800
Home Value Forecast: -1.9%

Average Home Values by City
Sunny Isles Beach – $405,800
Aventura – $342,900
Bal Harbour – $1,043,000
Bay Harbor Islands – $289,300
Golden Beach – $932,400

The median home values have risen from below $400,000 to $405,800 for the area. Although the home value forecast is still in negatives, with the new condos hitting the market in 2019, this for sure will change to a positive number by the end of 2019. With Sunny Isles Beach being not the most affordable, but surely not the highest priced in the area, next to Bal Harbour. It is expected that these prices are going to drop first before they start to rise again.

Sunny Isles Beach Insights 2018

According to the graph below courtesy of Trulia.com, Sunny Isles Beach is a very well-organized community that is dedicated to those that are living in the area. With the majority of those living in the area holding a degree, the area continues to be a favorite for those of all ages.

The housing market trends are also shown in the graph below provided by Trulia.com regarding Sunny Isles Beach condos and other properties for sale in the area. This provides more insight into the trends from the previous months leading up to this current month.

Sunny Isles Beach market report

According to the charts, the median sales price for homes in the area from October to Jan was $325,000 based on 97 different homes during that time. The price per square foot for the properties in the area was $321. This is a decrease of -5% compared to last year’s amounts. The decrease continued the trend to this year.

The median rent per month was around $4,000 between December and January, making it one of the bigger amounts in the area that is steadily going down in the cost per square foot to buy, while rent continues to be a large amount.

The trends continue to change with every passing month, making this something that continues to be talked about and investors continue to watch. With the prices falling low, the time to purchase real estate in the area is now. The prices per square feet are expected to rise again with the coming year according to numerous sources.

This additional chart shows the home values that are along the strip by the beach itself, providing further information and a graph that you can actually see the amounts side by side. This provides a good comparison for those looking to invest or purchase in the Sunny Isles Beach area.

Real Estate Appreciation

Neighborhoodscout took to tracking the Sunny Isles Beach real estate appreciation. This information was given to those that are looking to invest or purchase in the area and want to make an informed decision. According to the chart that they provide, Sunny Isles has many condos that have been performing above average.

The chart below, courtesy of Neighborhoodscout.com shows us that the top producing neighborhoods in the area are Collins Ave, N Bay Road, Bayview Drive, City Center and Bal Harbour Blvd. These areas are not only seeing a lot of development, but a lot of changes for the future.

Sunny Isles Beach real estate trends

The number of homes and apartments in the area is over 10,000 with a median value over $600,000. The renting is at an all-time high, coming in at $2,500 for the available median values. With homes costing this low to purchase, yet renting being as high as it is, many investors are quickly purchasing the real estate below the current market value.

Purchasing it prior to having the assessments done on the buildings can help those investors that want to get a great deal, get one before the assessments bring the property value and taxes much higher.

The current market shows that more condos and apartments are provided in the area over single-family homes. This is making it easier for those moving to the area to rent a place prior to owning one, if they ever wish to in the area. Over 50% of these apartments and condos are in the two-bedroom range, providing a decent size for a large rent amount.

Reasons to Invest in Sunny Isles Beach

1. The Beach
This brings everyone and anyone around when it comes to investing in something. You will find renters from around the country, around the world, that choose to make Sunny Isles their home just for the simple fact that it is by the beach. Investors can charge more for ocean-front properties.

2. Limited Supply of Homes
There is currently not a lot to choose from for those that are moving to the area. Many of the rentals are already being rented and some of them might not suit the needs of the person. By investing in apartments or condos, you can have a prime rental that can easily be filled. There is unlikely to be any new building in the area in the coming years.

3. Strong International Market
Not just those from the area like to purchase real estate on Sunny Isles. Those from other countries like to purchase luxury vacation homes that they can use during the off-months. Providing a way for them to rent these during those months, and then provide rent for other months to other individuals opens up numerous options to the investor.

4. Massive Rental Population
Miami alone is a massive rental market, but when considering the amount of people that want beach homes, the rental population becomes even larger. Some are unable to pay high prices to purchase homes, so they rent for a specified amount of time. Those that are living in the area are used to the high rental prices and willing to pay for them in a nice condo or apartment.

5. The Job Market Continues to Grow
As more and more people continue to look for jobs throughout the Miami area, many will move to this area, as the job market continues to grow. According to Simply Hired, there are over 30,000 new jobs that need to be filled with close to 3,000 of them being posted recently. This means more people will move to the area to find work.

6. Strong ROI for Landlords
Those that are renting to anyone coming to the area are going to experience a strong ROI on the investment that they make. There is a high demand for properties by the beach and Sunny Isles Beach is one of the premier destinations. This means having a lavish condo or a high-end apartment in the area is going to go for a decent amount of rent in the area. Throw in extra amenities, a pool, large deck and a backyard ocean and those renting the properties out are hitting a strong ROI.

7. It is Easy to Be a Landlord in Florida
Many states throughout the US have strict rental laws that landlords have to abide by when renting to someone. Florida does not have the same laws. They are a landlord friendly market and they ensure that you have the control if rent is not paid on time, or when there is damage done to a property. It doesn’t matter who you’re renting too, they ensure that all violations are taken care of; making is less of a burden for landlords.

8. Most Tourists and Residents are Renters in Sunny Isles Beach
Those that are coming to the area will need a place to stay. Many look for rental properties to turn into their vacation homes, regularly renting them every year at the same time. Those residents that live in the area will rent for some time because the prices to purchase may be too high or they may not want to deal with the costs of purchasing a home. Plus, renting also comes with amenities and extras, providing them with a care-free way of life.

Investing in Sunny Isles Beach Real Estate in 2019

Investing in Sunny Isles Beach condos and other properties continue to be a great choice to make. Not only is the area active and flourishing, but the prices are currently at its lowest point since 2012, making it an ideal investment. Additionally, adding in the cost of renting and you are easily able to rent the condos that you purchase, making up the costs that you’ve spent on them ten-fold.

Sunny Isles Beach has always been an investment playground for buyers across the entire globe. Not only that, but according to The Real Deal, Sunny Isles Beach is Miami’s new billionaire playground, bringing in a much luxurious, lavish crowd that these condos and rentals can tap into.

Sunny Isles Beach Condos Supply

Sunny Isles Beach Real Estate

It is not surprising to anyone that South Florida offers most luxurious, as well as some of the most expensive condominium prices in the world. Because of this, it’s also not terribly astonishing that condo developers are happy to snatch up every last plot of land in order to develop more of these luxury dwellings. What has happened because of this is developers kept competing against one another to develop ever more and more expensive condos to attract even bigger buyers, even when they may have no assurance that buyers will kept on coming.

Sunny Isles Beach Neighborhood

It looks like that moment has come, when there are so many condos for sale that there’s simply no easy way to find a buyer for all of them. A study by real estate expert Leon Bell of Sunny Realty from earlier this year gives his own thoughts, largely warning that the Sunny Isles Beach area, located just north of Miami Beach and in the same place where you can find the Trump International Beach Resort, has thousands of condos up for sale.

In addition to Trump’s illustrious properties, other high-profile buildings exist in the area. Probably the most notable is the Porsche Design Tower, which was opened in May with a performance by musician Alicia Keys.

In fact, the sheer number of condos on the market is enough to satisfy the average that would be sold in two entire years. However, buildings are still being erected and with so much supply, it could lead to rapidly tanking prices in an area that isn’t set up for that sort of system.

Price Points for Condos

An average asking price for an oceanfront Sunny Isles Beach condo is right around $1.5 million. However, the time that it takes to sell that unit can be over 200 days, or 2/3 of a year. Leon Bell had analyzed only condos listed for sale in Sunny Isles Beach on the MLS (multiple listing system). This report doesn’t take into consideration almost 50,000 new pre-construction units that are being developed east of Interstate 95 in the South Florida area.

Looking Forward

It’s expected that by the year 2020, the Miami-Dade area will have a huge number of properties to sell and many of them will be listed for a long time. This strikes some as unsatisfying as those areas could have been used as more affordable housing, public parks, community centers, healthcare facilities, etc. However, this all comes down to local government and public planning.

It isn’t only Leon Bell who states things may be going slower for luxury condo sales. Jorge Perez, real estate mogul in Miami, has also stated he believes many developers have no idea of the area’s market and how it’s being over-saturated by homes that may be not easy to sell.

Miami’s legislators have largely ignored the situation and said there is no way to force developers to build more affordable housing. However, Leon Bell’s study shows that things are changing nowadays.

Leon Bell notes that a balanced market will typically have about a six months supply of properties, while Miami is far beyond that number. This can lead to an advantage for buyers, rather than sellers. It can also lead to price deterioration for luxury oceanfront condos.

Unexpected Benefits of the Federal Reserve Interest Rate Hike

The Federal Reserve has done a final interest rate hike in 2018. This follows the rate hike in 2015, one that was implemented in 2016, and two rate hikes that occurred in 2017. This final rate hike was voted on by Federal officials and passed with a 7 to 2 vote. The announcement about the hike was made after a two-day meeting by the Fed officials. The rate will increase by a quarter percent in order to hit a target range that lies between 1.25 percent and 1.5 percent.

This does mean that borrowing is going to get more expensive, but it doesn’t mean that all effects will be negative. For one thing, everyone will have the benefit of acquiring better rates when dealing with high-yield certificates of deposit. This is only one example of the gains that are to come. We’ll look at the others throughout this article so you understand how to best take advantage of them.

1. Savers can expect higher returns. When it comes to savings, interest rates have been low for so long that they seem almost negligible. Most people are happy to see any kind of increase being implemented. One group will especially benefit from this is senior Americans who are on fixed incomes, along with those who use interest income as a coverage for living expenses.

2. Inflation will continue to be tamed. Most recent price measurements show that inflation has been a non-factor in the last several years. While the central bank has a 2 percent target for inflation, it has continuously been running short of that. Even with the new upcoming hike, inflation will remain manageable. However, any amount of positive inflation may lead to lower prices for imported goods, which benefits many Americans.

3. Expect to see more lending. With higher interest rates, banks are more likely to loan reserves at higher rates. This additional credit can help to boost economic growth. This is great news as lending has been abysmal since the financial crisis of 2008. Low rate lending will still be available, but it may be more scarce following the rate hike.

4. Retirees will see more interest income. Seniors who have put money into CDs and savings accounts can expect to see larger returns courtesy of the new rate boost. This will be an excellent thing for those living off of retirement savings.

5. Stronger dollar means easier traveling. When there is a strong U.S. dollar, it provides savings to citizens who head abroad. They will have more buying power as the Fed rate boost could lead to a newly strengthened currency.

6. Stocks will see less variation. The Federal Reserve seeks to achieve normalization, which means stock prices will start to make more sense. The focus will turn to market fundamentals, rather than being endlessly based on every Fed statement that hits the news.

7. Potential homebuyers may move forward. As a result of higher rates, you can expect to see higher mortgages. This may push those who are on the fence toward buying a home. Demand will be increased, prices will be increased, and home equity will also increase in one fell swoop.

Based on all of these potential benefits from the upcoming rate hike, not all is lost. Borrowing may cost more, but the many new changes coming in other areas will likely make up for this. No matter your opinion on the final rate hike, there is a lot to think about. Things are certainly changing.