The aftereffects of the real estate downturn haven’t necessarily been all bad. While at one point the Miami Beach real estate market was booming with homes that seemed to get bigger and bigger, affluent homeowners are now downsizing to something a little more modest. Nowadays builders are focusing on building and promoting residences that they describe as “opulent yet efficient”.
There may be a slightly larger number of buyers out and about exploring Miami Beach real estate but ask any real estate agent with a good grasp of existing trends and conditions and they’ll tell you that many of these buyers are looking for luxury at discounted prices. As a result, leading South Florida builders such as Kenco Communities have already starting showcasing their new proposed multi-bedroom homes available for a little more than $1 million.
Recent surveys by the National Association of Home Builders show that nearly all builders have switched to designing smaller homes. As to whether these new designs are being embraced remains to be seen. Do you expect to find luxury Miami Beach real estate at discounted prices when browsing the market?