Living There
Sometimes, it can be difficult to determine exactly what it is about an area that makes it grow quickly and become a hot commodity in terms of real estate. Other times, such as with the new communities of Miami Brickell Ave Condos, it’s hard to understand just what took these areas so long to become as popular as they are right now. They offer a fantastic location and buyers and developers are just now really beginning to tap into that.
Areas on the Rise
A recent real estate study showed there were several communities in the Miami area that were really starting to become popular. In addition to Brickell and Edgewater, the other markets included in this fast growth include Midtown, Wynwood, the Central Business District, and the Arts and Entertainment District. Each showed growth, and according to the reports, there are currently approximately 14,500 units for residents in the planning phases right now.
By looking forward to the next year or so, it’s easy to estimate just how fast these areas will be growing. Experts say that Brickell should be seeing a growth of 27%, which is massive by any standards. However, it pales in comparison to the 67% growth that they expect Edgewater to see in that period.
Why So Popular?
What is it about the Brickell and Edgewater areas that make them as popular as they are right now? Everyone knows the saying that in real estate, what matters is location, location, location. Well, that’s precisely what is making these areas popular now. Much of the area is right along the waterfront, which everyone who moves to the Miami area certainly wants.
Strangely, for years every developer seemed to place their focus on other areas around these two locales, but never really stopped to think about what they had to offer. Once they discovered that it had all of that waterfront property that was nearly free of real development, the veil lifted and they started to realize the potential it offered. With the new developments in the works, it will bring even more attention to the area. In turn, that should eventually lead to even more development, more people in the area, and a larger and thriving community.
If They Build It, People Will Come
People love waterfront communities, and as long as developers can continue to build in these areas and have units close to the water, chances are good that they will do well. Buyers who are looking for a condominium in Florida, whether they are buying for a fulltime home, a vacation home, or even for a rental property, all want to be near the water. These new developments will make that possible, and they may be able to do so at a price that’s a bit better than some of the other notoriously high-end areas can offer. It will be interesting to watch the area and to watch for news on more developments that are sure to come here in the next couple of years.
