First of all, I want to emphasize that Single-Family homes in Florida remain an excellent choice. The title has a purposeful appeal to show the superb opportunity today in Miami’s luxury-condo segment.
In this pandemic moment, we could say the Sunshine State is experiencing a significant “invasion” of people from the north. Florida receives about 1,000 new residents every day. The coronavirus pandemic precipitated the decision of many Americans who were already on the verge of moving to Florida.
The single-family homes segment is the most sought after. At the same time, the demand for condos in Miami is low. All of this creates an imbalance in the market, increasing single-family homes’ prices, and lowering condos’ costs. And why not take advantage of this imbalance and buy a condo instead of a single-family?
The vast majority of northern residents are looking for single-family homes because they can no longer stand the confinement of small apartments in large cities. It is possible to buy single-family homes in Florida at very affordable prices. They are large houses, with a backyard and pool. Usually, this type of house is found in suburban areas or in the countryside, where the demographic density is lower, and there is less risk of contagion by COVID-19 (more comfortable to keep social distance and practice outdoor activities).
Other reasons people are coming to Florida are the excellent weather year-round, tax incentives, and remote work. You can have all that in a luxury condo, as well. Imagine yourself living in a beachfront condo in Florida.
Remote work has played an essential role in the Real Estate Market, creating a potential impact on urban home prices. More people are working from home, and there is less need to live closer to the office each day. Even after the pandemic, the trend might stay. Companies and employees already realized the work environment changed for good.
However, Miami has many luxury condos with ample indoor space, which can also be found in suburban areas or a little away from downtown Miami. The demographic density in these regions is even lower. Although a unit within a condo does not bring the same freedom and privacy as a single-family home, most of these luxury condos offer ample space, expansive terraces with incredible views, and a barbecue area (some even have a veranda pool, as in Porsche Design Tower in Sunny Isles Beach). Best of all, prices are super low(they are often over 40% off).
The discounts are so significant that, for the first time, AMG International Realty created a Black Friday campaign (see on our Instagram profile).
Now is a historic time to invest in luxury condos in Miami.
About AMG International Realty
AMG International Realty is a full-service brokerage firm in Florida. We are your one-stop-shop realty. If you plan to move to Florida, give us a call today and be aware of the great opportunities Florida Real Estate market has to offer: +1 (305) 318 6968 (Heloisa Arazi).