Millions of Dollars in St. Regis Bal Harbor Miami for Trade in 2012

By LEON BELL On October 5, 2015

The luxury Miami condo market
has certainly seen new and good changes in the last year. This is most evident in the St. Regis Bal Harbour Resort & Residences, where millions of dollars traded hands when buyers purchased almost 200 condos in one year. In 2012 alone, when the real estate upswing began to take place in Florida, a total of $709 million was spent by those who purchased condos in this area alone.
By looking at a breakdown of the statistics, it is easy to see the positive aspects of the real estate upswing.
• 475,000 square feet of condo space was purchased.
• The average price paid for these condos was $1,480 per square foot.
• Some properties sold in individual transactions at up to $2,625 per square foot.
• Most units were sold between 1.4 and 13.5 million dollars.
What does this say for the real estate market in South Florida? It shows that condos are in higher demand and people are willing to pay higher prices to get premium properties. It wasn’t too long ago when this was simply not an option.
The average selling price now days is about 98% of the asking price. Currently more than a dozen new towers are proposed by national and international developers. That would add more than 1,000 new units to the Bal Harbour area. This will help to defray the growing demand for real estate in South Florida.
St. Regis Bal Harbour Condo
comprises of three different towers as a part of the St. Regis Bal Harbour community. This includes more than 200 different condo residences. The resort also offers such amenities as:
• Four swimming pools
• A spa
• A selection of restaurants
• Private beaches
• A selection of habour shops
• A variety of different homes, including condo-hotel units, condominiums and a full service hotel.
More than $700 million changed hands in 2012, and real estate experts suggest that the numbers will go up in the coming year. This means that more developers will look to build in the area. Additionally, the price to rent or purchase condos will continue to go up as well. For the South Florida area, this is definitely good news, since this area has always been considered as one of the most exclusive places to live. Most experts are indicating that now is the best time to invest in Bal Harbour real estate.

LEON BELL

I had a dream to work in a reputed organization, where luxury real estate is bought and sold. I am glad to declare that now I work in a reputed real estate selling organization, St. Regis Bal Harbour. If you buy real estate from this organization, you will definitely find several luxury condos within a moderate asking price.

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