Over the past ten years, downtown Miami has undergone an incredible transformation. Especially the Downtown area, which did not bring strong appeals for tourism or to settle residences, today is one of the most desired neighborhoods to invest in, have a second home or even live. Downtown has been chosen by Miami’s largest homebuilders as the premier neighborhood for investor-oriented mega real estate developments. The region concentrates the largest number of condos geared towards income with vacation rentals (Airbnb). One of these condominiums is now the main investment opportunity in the region. Want to know which one? Keep reading and find out.
Downtown Miami concentrates the best Airbnb-oriented condos
Miami has traditionally been a city with strict rental rules. Unlike Orlando, which has specific zoning that allows the practice of flexible rentals (without period restrictions), Miami has already fought major battles with online rental platforms to prevent the practice from advancing in certain regions. The objective of the municipal authorities is to protect residents from the intense flow of tourists that this practice generates, deteriorating the quality of life in residential communities.
Miami evolves to ease rental rules
However, in the last 10 years, with the advancement of online rental platforms and the great profit that the practice of seasonal rentals generates, the preference of buyers has become this property profile, which allows flexible rentals.
Not only is the rent very attractive (Miami and Orlando are the destinations with the highest expected return on this practice), but also nobody wants to keep an apartment closed all year round, with all the associated expenses, to be used only once or twice a year .
In this new scenario, Miami authorities could not curb the trend and leave the city out of a growing market. The Downtown region became part of new rules and construction companies wasted no time in building several condominiums aimed at the Airbnb format.
The success was so expressive that the condominiums are sold-out (100% sold), often in the same year they are launched.
The opportunity of the moment in Miami
Most of the launches in Downtown today that allow the practice of vacation rentals are already sold out or have very few units for sale, with second or third list prices. That is, those who did not buy at launch will now pay a premium for entering more advanced sales phases.
That’s why it’s important to take advantage of the first list prices, as soon as the launch is announced, even if the keys take longer to be delivered.
It is worth mentioning that, until the keys are handed over, the buyer will take advantage of the second, third or even fourth stage price appreciation set by the developer itself. The appreciation projected today in Miami is approximately 10% per year until the delivery of the condominium. From that moment on, in addition to the appreciation of the property, the investor will also realize the income from seasonal rentals.
Some examples of launches in Downtown Miami (most 100% sold) are: The Elser Miami, E11VEN, Legacy Hotel & Residences, District 225, Natiivo, among others.
One of them, not mentioned above, is still at top list prices. It will be delivered in 2026 and offers units at prices no longer seen in Miami as of the date of this article (January 2023).
Meet the launch 600 Miami Worldcenter
Launch 600 Miami Worldcenter will be a 32-story tower within the Miami Worldcenter mega complex, one of the largest mixed-use communities in the world.
600 MWC will offer studios to 2-bedroom units. Prices start at $430,000, which is unimaginable for downtown Miami today.
The 600 MWC units will be offered already furnished and decorated, completely ready to live in or rent efficiently, for a better and optimized expected return.
The great differential of 600 Miami Worldcenter is that it is part of the Miami WorldCenter Complex, with its more than 100,000 m2 of areas with shops, restaurants and various other establishments that make the complex a true “city within a city”. Do everything on foot while experiencing the vibrant lifestyle of Downtown Miami.
Hurry: Project will be sold-out in 30 days
As with other condominiums of the same format, in the central region of Miami, the 600 MWC is expected to be sold out (100% sold) in approximately 30 days.
Some units can be reserved for a second phase of sale, with adjusted prices.
Just by way of comparison, a 2-bedroom unit at 600 MWC is being offered at approximately $820,000. It’s half the price of another similar condo in Brickell, the Lofty Residences, which will be delivered a year earlier.
Make your reservation at 600 MWC today and seize the opportunity
Make a solid dollar investment and dream of a second home in Florida today. Book your unit now in one of Miami’s most desirable condominiums. If you want to know more about the development, visit the 600 MWC page on this website or chat with me right now via WhatsApp: +1 305 318 6968 (Heloisa Arazi).