Condo Boom in Miami Beach And Palm Beach My Be On The Horizon

8
Feb

 

South Florida real estate is truly unpredictable when it comes to market trends. While the right timing and investment returns are rather difficult to predict, trends in this market have been on the positive side for property purchases and investing. In the big picture there are indicators that direct potential investors as to when properties should be sold or purchased.

In North Miami Beach and Palm Beach signs of a favorable future for property values have been evident. These areas are ripe for new projects and developers are eager to plant their flag for a lucrative investment in the real estate market in Miami. During the economic downturn, the Kolter Group, LLC held off on their condo project. Now seeing that the Miami Beach real estate market is showing signs of rejuvenation, the bold move of a competitor has prompted them to take the dive boldly into major construction.

The Related Group was the first to announce its plan to start construction of a dual tower condominium project. It will consists of 506 units and is to be located on the northern end of West Palm Beach. These double towers will also offer the best views and amenities.

Immediately following their announcement, the Kolter Group announced the re-starting of their North Palm Beach condo project. The fall of 2012 has been deemed the estimated time for ground-breaking. Since the pricing has been reduced from the original planned pricing, there will be more units made available to forego their losses. Prices now fall between the ranges of $600,000 to $1.5 million. The Kolter Group expects this project to be completed by the fall of 2014.

The economic sectors of the South Florida market are badly in need of a boost. These preliminary projects are just the fuel needed to create jobs and additional housing. Notice of a third project has also been circulating called"The Porsche". Boasting one unit per floor, this luxury high-rise will offer its residents the ability to park their vehicles in their apartments! Stay tuned for more on that!

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