Miami Beach remains one of the best summer vacation destinations for local and global tourists. For over 100 years, the nation's richest and most famous have chosen Miami to buy vacation properties, including luxury condo units on the beach.
In fact, many foreign investors today are buying up condos for sale in Miami Beach. The area seems to offer a little of everything, including white sand beaches, ocean views, famous nightlife and dining and beautiful architecture unlike anything else.
Miami Beach is perhaps most famous for its wonderful tropical climate, excellent surf conditions and white sand beaches. Still, the Art Deco district of the city continues to draw in tourists and locals and offers a range of entertainment, from arcades to high-scale restaurants.
Miami Beach also appeals to those who enjoy outdoor activities, particularly water sports like water skiing, fishing, surfing and boating.
Miami Beach condos for sale seem to have some of the most stable selling prices in the country as well. During the first 2 months of 2008, there was a 7% increase in sales to foreign buyers.
Despite the housing crisis, reports also show there is about a 19% decrease in the Miami Beach condo supply, which will continue to go down until new construction projects are completed.
Because the supply of condos in the area continues to drop while the demand rises more than ever, prices may begin to climb for these luxury condo units throughout Miami Beach.
The demand seems to be centered more on foreign investors than local, as the real estate market has dropped in Miami dramatically. If you're looking for a luxurious second home, vacation home or a wonderful place to settle for good, you can't do better than condos in Miami Beach. Condos in the area remain an excellent investment and there is no better time to buy than when the market is down.