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A condo tower in Downtown Miami is nearly sold out after just months of launching sales. Before the pandemic, developers would offer a number of incentives to agents and prospective buyers. However, right now the market is so hot that projects are selling out fast. Because single-family homes and existing condos are selling really fast, developers are taking advantage with new projects constantly popping up.
At the end of 2019, sales for Legacy Hotel & Residences launched. However, when the pandemic reached, buyers cancelled 100 out of the 170 reservations. This was very alarming for the project. However, this condo tower in downtown Miami took a complete turn and recently fully pre-sold. The buyers have provided at least 20% of the deposit.
The developers plan to break ground o the condo tower soon, and expect its completion by the end of 2024. The majority of the buyers came from Latin America. In addition, the units ranged from half a million to over a million dollars.
Besides this, sales are up in a number of other condo projects all over South Florida.
AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).