As summer unfolds, the luxury real estate market in South Florida is buzzing with activity, especially in the captivating regions of Bal Harbour, Sunny Isles Beach, and Miami Beach. In this edition, I bring you the latest insights and forecasts for these sought-after destinations, so you can stay ahead of the curve in this dynamic market.

1. Bal Harbour: Exquisite Living by the Ocean

Renowned for its pristine beaches, high-end shopping, and elegant lifestyle, Bal Harbour continues to captivate discerning buyers and investors. This summer, the market in Bal Harbour is expected to maintain its upward trajectory, with a focus on opulent waterfront properties and exclusive gated communities. The demand for spacious residences with panoramic ocean views, state-of-the-art amenities, and top-notch security remains strong. With a limited supply of luxury properties in this prestigious enclave, prices are projected to maintain their stability, making it an ideal time for both buyers and sellers to explore the market.

2. Sunny Isles Beach: A Rising Star in Luxury Living

Sunny Isles Beach, often referred to as the "Florida Riviera," has witnessed remarkable growth over the years, establishing itself as a prime destination for luxury real estate. This summer, the market in Sunny Isles Beach is expected to continue its upward trajectory, driven by an influx of domestic and international buyers seeking the perfect blend of beachfront living and urban convenience. With several ultra-luxurious condominium developments gracing the skyline, offering unparalleled amenities and panoramic ocean views, Sunny Isles Beach is attracting investors and buyers from around the world. Experts anticipate sustained demand and steady price growth throughout the season.

3. Miami Beach: An Iconic Haven of Luxury

Miami Beach, an iconic hotspot renowned for its vibrant nightlife, cultural scene, and stunning Art Deco architecture, remains a magnet for luxury real estate enthusiasts. The summer market in Miami Beach is predicted to be dynamic, catering to the desires of high-net-worth individuals seeking glamorous waterfront estates, high-rise penthouses, and upscale residences with access to private beachfronts. The city's diverse neighborhoods, such as South Beach and Mid-Beach, offer an array of options for luxury buyers, while investment opportunities in up-and-coming areas, like North Beach and Sunset Islands, continue to emerge. With its ever-growing appeal and sustained demand, Miami Beach remains a sound investment choice for those seeking a lavish coastal lifestyle.

4. Emerging Trends and Insights

Apart from the traditional summer demand, there are a few notable trends and insights that have emerged in the luxury real estate market:

a. Sustainable Living: Buyers are increasingly prioritizing eco-friendly features and sustainable living spaces. Developers are incorporating green initiatives and energy-efficient technologies into their projects, such as solar panels, efficient insulation, and smart home automation.

b. Remote Work: The pandemic has accelerated the acceptance of remote work, prompting buyers to seek residences with dedicated home offices, flexible floor plans, and high-speed internet connectivity, providing the perfect work-life balance.

c. Wellness Amenities: Luxury properties now offer an abundance of wellness amenities, including state-of-the-art fitness centers, spa facilities, and serene outdoor spaces, catering to the growing demand for health and wellness-focused lifestyles.

The luxury real estate market in Bal Harbour, Sunny Isles Beach, and Miami Beach continues to thrive, presenting a plethora of opportunities for buyers and investors. Whether you are looking for a lavish oceanfront retreat or an exceptional investment opportunity, the summer season promises to be an exciting time in these prestigious South Florida destinations. Stay informed, stay inspired, and enjoy the unparalleled luxury that awaits you in these remarkable coastal havens.

Wishing you a splendid summer filled with prosperity and success!

If you’ve considered purchasing property in beautiful Sunny Isles, Florida - take this as your sign to go for it. These two unbelievable properties are up for grabs and have everything you need, including fantastic amenities and coveted ocean and intracoastal views.

17201 Collins Ave Unit 3805
They say a picture is worth a thousand words, but sometimes you have to see for yourself to believe it! These words should offer plenty of intrigue and appeal, however. Just check out everything this 2006-built unit features, then close your eyes and picture yourself there with the gentle sound of the ocean in your ears and the smell of sea salt in the air.

Can life get better than that? Well, it can in this 3,000+ square foot condo! This three-bedroom, four-bath unit is currently listed for $2,650,000. As soon as you lay eyes on the ocean and intracoastal views, and marble bathrooms, you’ll know why!

Sip your morning coffee from your private balcony, then head out to enjoy all the amenities that come as part of the package. Have dinner at the on-site restaurant, get in a workout at the fitness center, and enjoy valet parking.

Can you see yourself there yet?

16047 Collins Ave Unit 1703
Listed at a cool $4,649,000, this three-bedroom, four-bath unit features a spacious 3,500 square feet and boasts open, 10-foot ceilings. It comes complete with top-of-the-line finishes and unforgettable details thanks to its recent remodel.

In addition to the three bedrooms, there’s an extra den and a maid’s room, offering you all the living space you could need - all with an unmatched direct ocean view.

As if the private balcony, views, and high-end remodel aren’t enough, this unit is housed in the sought-after, gated Turnberry Ocean Colony community. As part of the community, you’ll enjoy two heated pools, valet parking, a private-use spa, a hair salon, multiple restaurants, and more! Everything you need is within reach, whether you’re planning a day at the beach or going about your usual business.

Don’t let an opportunity like this slip through your fingertips!

Conclusion
Whether you’re looking to relocate permanently or just have a breathtaking getaway on the water, either of these units is more than capable of sweeping you off your feet. To see more, reach out to Lana Bell and grab one of these units today!

Sources:
Client Provided

Real estate markets across the country remain turbulent. In 2023, you’ll hear plenty of talk of low inventory and high interest rates resulting in a mixture of hesitant sellers and buyers wondering if they should wait on making purchases. The Miami luxury market seems like a world apart in comparison, as properties are still highly sought-after, and the market remains competitive.

While there are several stunning properties, two buildings stand out as a testament to the current state of the luxury market: St. Regis in Sunny Isles and St. Regis in Miami.

What Attracts Buyers
St. Regis is a gorgeous luxury hotel and residential building, but there are comparable offerings on the market. So, what is it about St. Regis that sets it apart and draws buyers in?

Potential buyers are excited about the exceptional amenities, services, prime beachfront location, high-end finishes, and stunning ocean views. They love the world-class restaurants, spa, and having access to their exclusive beach cabanas.

And that’s only touching the surface. St. Regis has a long list of amenities, and it’s difficult not to be impressed by what they offer. Buyers look forward to a private marina, a fully equipped fitness center, the St. Regis cognac room and traditional tearoom, butler service and in-room dining, and so much more. St. Regis seems to have thought of everything a buyer could want.

How Competitive Is It?
Being involved in the current real estate market is a highly competitive experience. The sales process for these types of properties requires a customized sales approach, even when working with the most qualified buyers. It requires tapping into market knowledge and experience for the edge that makes these transactions possible.

Does This Market Require Experience?
The high levels of competition require a deep understanding of the market. Identifying the unique selling points of the property, of which there are many when we’re discussing these two St. Regis buildings, and leveraging an extensive network of high-net-worth clients are both necessary tactics.

Final Thoughts for Buyers and Sellers
Keep in mind that all markets have fluctuations and ups and downs. In recent years, the luxury real estate market in Miami has performed well. It has seen strong demand from both domestic and international buyers.

With that in mind, potential buyers should work with an experienced agent capable of providing guidance on neighborhoods, properties, and investment opportunities. Likewise, potential sellers should work with an agent who can develop a customized marketing plan and attract qualified buyers while negotiating favorable terms.

For more information on these 2 buildings or the Miami Luxury Real Estate Market, you can contact Lana by email - lanabell@elliman.com or call her at 305-336-0457.