Something new is coming to the Sunny Isles Beach market. Soon, developers plan to begin construction of a new pre construction condos in Sunny Isles Beach. There are 1,200 total proposed new units which include Unique, Porsche Tower, Jade Signature, Regalia, Chateau Beach and Mansions of Acqualina. The pre-construction condos in Sunny Isles Beach comes on the heels of an upswing in the market that seems to be moving away from the market crash that began in 2007.
These new condo projects come from a variety of local investors as well as international professionals. There are 10 different towers in separate proposals. These new buildings will house more than 350 floors of units and they will all be available as beachfront property, either facing the Atlantic or the Intracoastal Waterway. This information has been compiled by the February 2013 preconstruction condo projects list.
Proposals in All of South Florida
Because of the real estate upswing, there are numerous proposals throughout the south Florida area. In fact, there are over 100 total towers proposed throughout areas such as Broward County, Palm Beach, and Miami-Dade. This would add close to 15,000 new condo units to the area.
Developments in the Past
The Sunny Isles Beach area has seen a great deal of growth since 2003. In the past years, 26 different projects have been completed, and they added in a total of 6,350 new units available. The Sunny Isles Beach area has become very popular for new real estate, and before the real estate market crash, a total of 60 different condo projects were completed in the same area.
Selling Out Quickly
Because the new real estate boom has begun selling out condos in the area, new developments have been proposed to offer more real estate. The condos in the proposals will cover a vast range of prices and amenities to suit a wide variety of needs. In fact, as of now, there are only about 2,000 condos available in the Sunny Isles area. International investors continue to back these projects, and this quick sellout has led to the new proposals. Most of the new proposals include plans to complete condo buildings by 2014.
Transactions in Progress
Most of the new condos will go up and be available at various times. The properties are in various stages of transactions, and a transaction does have to be completed before the construction can begin. Some of the new projects could start within the next few months while others won’t actually begin until early 2014.
This is all good news for the Sunny Isles Beach condo market. Anyone who wishes to move to the area will have a variety of choices in the coming months, allowing them to pick the right combination of amenities and prices on beachfront properties. With the recent upswing in the South Florida real estate market, these proposals are expected to be successful in providing a new boom in the area.