Miami Beach Real Estate – Still In High Demand

One of the most desired beach resorts in the United States, Miami Beach is a city in Miami-Dade County in the state of Florida. It was incorporated on the 26th of March, 1915. Though it is a distinct municipality, the city of Miami Beach is taken in the same category as top residential architects in Miami and the two collectively are mentioned as ‘Miami’. According to a recent estimate, Miami Beach has a population of nearly 88, 000 in which more than 55% are foreign born and migrated to Miami at some point. It is located at 25°48’47”, 80°8’3″W and has an area of about 19 square miles. This place basically has a tropical climate. The real estate market in Miami Beach is resilient . The average listing price of a single family home in Miami Beach is $1,017,000. Average listing price for a condo is $454,000. The average listing price for a Miami Beach rental is $2,100.

Spanish is the first language of the city and is followed by English, Portuguese, French, German, Italian and Russian. A large part of the Jewish community has set up home in Miami Beach and most of them speak Yiddish or Hebrew.

The education system of Miami Beach is moderately developed and the area has an adequate number of elementary and middle schools to take care of the educational requirements of the residents. Infrastructure is quite good in terms of transportation and the fact that Miami Beach is a tourist attraction ensures that there are minimum hitches where local transport is concerned. Buses and taxis and even rail dot the city and hence traveling within the boundaries is not a problem. Collins Avenue remains the main artery of the city.

SoBe is one of the world’s most prominent tourist attractions from 1st to 17th Street. The Art Deco Historic District along Ocean Drive is a must see in a visit to the city. Other hot spots to visit include Lincoln Road, Versace Mansion and Bongo’s Café. The economy of Miami Beach is rapidly growing and the key contribution can be attributed to tourism. Miami Beach is a resort locale and yearly billions of tourists come here. The objective of the City’s Government is to boost the cultural variety and also work towards supporting private capital investment and market research. The business environment of the place is given vital importance and to attain the perfect balance concerns from abroad are welcomed. Apart from leisure tourism, business tourism also flourishes in Miami Beach and adds a substantial share to the tourism industry .

Booming tourism, year-round excellent weather, inviting beaches, hot sun, best night clubs, ardent night life, and constant government planning has resulted in a promising real estate market in Miami Beach. Glamorous places to live in Miami Beach include Star, Venetian, Hibiscus, Palm and La Gorge Islands. Total housing units in the area are more than 5,000 and nearly 30% of them are owner occupied. There are 931 single family homes, over 5,000 condos, 136 residential income properties and 1,700 rentals currently available. Miami Beach Real Estate sells outside of Miami and the prices are still very attractive to European buyers. The demand for Miami Beach real estate will remain strong.

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