The Miami Real Estate Market’s Current Reemergence — The Vibrant Energy Of The City Is Back Again
Many assumed that it would take more than half a decade before recovery would take on its effects; however we are now looking at condo towers which are being taken off the local market by renters who are quickly filling up any vacancies in Miami’s range of condo properties, leaving the city’s streets quite busy with people walking around everywhere.
As soon as the market collapsed, many of the city streets were just as vacant as the city’s condo establishments, but now we are looking at incredible signs of life on both the streets and these condo establishments which have easily become a top pick from today’s local market option.
Figured that cover the Downtown Miami area have showcased how the statistics for the area that extend from the Wynwood arts neighbohoord up north to the financial district of Brickell in the south have doubled over the past ten years with the district’s population going from 40,000 to today’s 70,000 people. But the figures do not end there as analysts expect an addition 10,000 people to move into the area by 2014.
Being granted security by all of the recent market findings and figures, it seems that investors have got their sights back on the Miami real estate market for investment projects that will be set within the Brickell area.
No one would have expected the bright future to be right around the corner but the incredible energy that has returned after years of silence is most certainly a welcome force in Miami. In fact, many hope that the Miami real estate activities that are now taking place will continue over the next couple of years despite the uncertainty that many still harbor in the back of their minds due to economic factors that seem to be holding Miami back in many ways.
Nevertheless, the Miami real estate market is definitely looking good, at least on the surface since there are still a number of issues which need to be resolved, particularly in terms of the region’s foreclosure crisis which still has its shadow cast over a great percentage of home properties in the region.
Joan Vonnegut
Miami Real Estate