Bal Harbour Condos


Miami-Dade Readies Itself for another Housing Boom

St. Regis Residences Bal Harbour


The new St. Regis Bal Harbour Resort & Residences has let every developer know that now is the time to start constructing new condominium buildings. Sales surpassed $750 million in the first year, and this is making Bal Harbour the place to construct a new building in Northeast Miami-Dade.

In November of 2011, people began to purchase condominium homes at the St. Regis Bal Harbour at a price of $1,450 for each square foot. Other developers saw a chance to build 10 more buildings in this area. This means that a total of at least 800 new condominium homes will be available for purchase near the prestigious intersection of 96th Street and Collins Avenue. This popular address encompasses Bal Harbour, the Bay Harbor Islands and Surfside.

The St. Regis is Bal Harbour real estate where people have purchased over 200 condominium homes in an area that contains about 500 available units, and developers are very encouraged by this. They are hoping to realize a similar type of success with their new buildings and to share in the $1.35 to $13.5 million in sales that the area has engendered.

Many developers have noticed the positive trend, and several are taking advantage of the possibilities, including developers in Argentina and Turkey. Many of these firms are in the process of acquiring their permits to have the opportunity to build the Harbor Park construction of 20 condominium homes that will be located on the Intercoastal Waterway and another 260 condominium unit project that is to be built near the Bal Harbour Beach Club.

Chadeau Beach Sunny IslesNational and international firms are working on obtaining the government approval they need for their projects in the areas of Bal Harbour, the Bay Harbor Islands and Surfside. Several of these construction projects will be ready for pre-sale this year. Construction is set to begin next year, and the developers anticipate completing their buildings in the year 2015 if not before.

Miami-Dade, Palm Beach and Broward Counties announced last December the fact that they will be the recipients of new condominium buildings. This adds up to a total of 14,200 new condominium homes on Florida’s coastal region in almost 100 new buildings. One construction has been completed and 14 more towers are currently being built. Of those, the most notable is the Chateau Beach, a 35-floor construction in Sunny Isles Beach. Another is the Regallia Condos.

Regallia Sunny Isles BeachCurrently, it is difficult for developers to obtain financing for construction projects in this part of the country. As a result, a majority of the condominium units are being sold to investors outside of the United States. As the developers complete each particular stage in the development process, their investors make a deposit toward their purchase. With this system in place, the developers obtain about 80 percent of the condominiums’ purchase prices before construction is completed. Developers may use a large portion of these deposits to build their towers.

The latest trend in placing 80 percent of the purchase price before the building has been completed is much different from what was required during the last housing boom. At that time, condominium buyers only need to offer 20 percent as a deposit, and the area experienced a housing bust.

The new plan of requiring a series of deposits will limit the potential for another housing bust, but it also appears to be helping sales of pre-existing condominium homes. Last year, people purchased nearly 270 pre-existing condominium homes at a price of $260 per square foot. This is an increase over the same time period for 2011.

It appears that the condominium boom is on its way. The question is whether or not people will be interested in a building that does not contain the name St. Regis.


Discover All That Is Wonderful at the One Bal Harbour

Every person who expresses an interest in Florida real estate is taken to see the One Bal Harbour condos because they are the best of the best in all of the state. Members of the top one percent are frequent guests of the One Bal Harbour because it is a building that hosts many parties that are regularly attended by well-known celebrities. Why are people such big fans of this condominium building?

The One Bal Harbour condos for sale are located within a tower that gives residents of the estates and penthouses the most sensational views possible of Miami. The building does not exist in the whole state of Florida that has units larger than can be found at the One Bal Harbour. Residents of the One Bal Harbour condos live in homes that offer the eyes a delectable feast of sights that dazzle them, and just one of those sights is the magnificent Atlantic Ocean.

The One Bal Harbour condos for sale are located within a building that envelops one third of a mile of land. On one side is the Miami International Airport and on the other is the Fort Lauderdale-Hollywood International Airport, so the residents are known to be in a really superb location. They are also close to purely phenomenal shopping choices because they only need to take a few steps across the street before they are surrounded by high-end stores. South Beach, Downtown Miami and Sunny Isles Beach are also within very close proximity. Aside from the aforementioned features, inhabitants of the One Bal Harbour enjoy a score of outrageous luxuries.

The view of the ocean is all people need to want to purchase one of the One Bal Harbour condos for sale, but there is so much more to them than that. The windows of each condominium unit are floor-to-ceiling. Residents travel within their own private elevators. The ceilings are extremely high giving inhabitants an expansive sense of space, and the lighting is phosphorescent and recessed. Owners of One Bal Harbour condos can enjoy the services of the building’s spa where they become relaxed and invigorated without ever having to leave the property. If they need to soak in the sauna to relieve their muscles of the day’s stress or make an appointment for a calming facial or massage, they can do it at the One Bal Harbour spa.

Living at the One Bal Harbour condos means that leisure and excess abound. The kitchens have countertops made of granite, Italian Seismatic cabinets with lighting inside, the latest appliances and walk-in closets that would be expected in a luxury condominium home. Their bathtubs are huge, but their showers are just as impressive, and they even have Jacuzzis in their bathrooms.

No matter where people go in the United States, they will find someone who knows about ocean front condominiums in  Bal Harbour Real Estate. They are extremely valuable, and those who are purchasing them as investment property begin to make a profit right away.

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