Condominiums are in vogue again, and the ones in Sunny Isles are leading the pack. They are situated in the best location since they are near famous attractions that make southern Florida such a joy to visit. They also have the amenities that most people desire when they purchase luxury real estate.
The condos for sale in Sunny Isles are so desirable that people from Latin America and beyond are seeking to purchase these properties, and they are receiving the best deals.
Because of the great demand, developers learned that they needed to work at a rapid pace to ensure that supply keeps up. That’s why a total of six new luxury condominium projects are in the works at the same time. Developers have also proposed several new preconstruction condos in Sunny Isles Beach to help augment the dwindling supply.
The Barrier Island
Miami Beach is a barrier island that makes people want to develop it to its fullest potential. About 70 years ago, builders had similar thoughts when they constructed several theme hotels on this property. Two decades ago, a new set of developers began to replace the hotels with luxury condominium buildings, and this is exactly what foreign investors with strong foreign currencies have been seeking recently.
The Latest Boom
The rest of the United States isn’t recovering from the housing bust of 2007 very quickly, but Miami is experiencing a housing boom. This doesn’t mean that lenders want to finance luxury condominium projects like the Regallia, the Mansions at Acqualina and the Porsche Tower Condo. However, developers know that now is the time to build, so they are using their own money to finance these projects.
Luxury condominium buildings are also being financed by foreign investors who are seeking a safe place for their immense wealth, and they found a good place for it in Sunny Isles Beach condos.
The 80 Percent Deposit
Developers require that investors place a large deposit while their buildings are under construction. In some cases, 80 percent of the purchase price will be due as the process reaches pre-determined benchmarks. With demand so high, even the 80 percent deposit isn’t expected to slow sales down.
An investor with foresight purchased the 2.26 square miles that were to become Sunny Isles Beach in 1920. Since then, this area has been the object of several people’s desires. In 1925, the Haulover Bridge was completed, and people were able to move easily from Miami Beach to Sunny Isles Beach. This caused even more construction, and the area became a playground for the seriously well-to-do.
Sunny Isles Beach real estate was popular for several reasons, but the main reason turned out to be the fact that residents of high-rise towers had the privilege of viewing the Atlantic Ocean for miles. Over the past decade, this location began to resemble a tropical resort like those that can be found on a Caribbean Island, and developer Michael Dezer is just one person who encouraged this to happen. Dezer is a major investor in Sunny Isles Beach condominiums, and Donald Trump allows his brand to be used to promote these grandiose homes.
Those who seek the most luxurious experiences possible could only be happy at the Trump Towers that contain 271 condominium units. Some people believe that Trump may have outdone himself with the Trump Grande Ocean Resort because it seems to surpass in luxury even the most ostentatious of buildings. Most of the motels that used to populate “Motel Row” are gone because they have been replaced by these staggering condominium buildings. The area is called “Shady Isles” now because beachgoers are enjoying the shade that they couldn’t receive when the motels were in existence.
People don’t have to go to a tropical island to take pleasure in a tropical resort. They can have this experience all year in their own homes in one of the Sunny Isles Beach condos for sale. The Acqualina Resort & Spa, the Jade Ocean Beach and La Perla have condominium units that new residents can move into today. If they purchase Sunny Isles Beach homes in the pre-construction buildings of the Mansions at Acqualina, the Regalia, the Porsche Design Tower, the Chateau Beach or 400 Sunny Isles, they will have to wait to move in, but it will be well worth the wait.
Sunny Isles Beach occupies the most coveted piece of real estate in the Miami area. People would be proud to make it their permanent home, and they will be assured that they are in possession of a phenomenal piece of real estate.
