When It Comes To Luxury Real Estate in Miami, Don't Overlook Opportunities in the South

You don't just have to look in Brickell and Miami Beach to find luxury real estate. There are great opportunities to be found to the south, in Coral Gables and Coconut Grove.

FL, FL (prHWY.com) January 14, 2013 - ConstecRealty.com is your place for luxury real estate in Miami. We are always adding new features to the website and listings are updated daily.

It seems that everyone is currently focused on Midtown and downtown in Miami luxury real estate. You shouldn't overlook opportunities to the south. Investors and buyers have more and more looked to the north in search of less expensive land. The feel priced out of the southern market. In the process, some great neighborhoods are being overlooked. Those with tremendous upside as far as luxury real estate goes are Coral Gables and Coconut Grove. These established neighborhoods already have excellent schools, beautiful parks, and places to shop, eat and relax. Another thing that they have that many luxury real estate opportunities in Miami don't have is history.

As you walk thorough Coconut Grove you can begin to notice a rebirth. Mixed in with the shops and parks, you can find the Grove at Grand Bay under development. It has recently announced that the first tower is already over 70% sold out and the second tower sales have launched a few weeks ago. Currently, unit pricing per square foot is much less when you compare it to similar quality luxury condos in Miami's South of Fifth neighborhood. You can find more information about the Grove at Grand Bay on our website under pre-construction.

More proof of the South's reemergence as far as Miami luxury real estate goes is the new residential developments underway in Coral Gables. Sales for the Merrick Manor, 180-unit building began last week. The building is right next to the Village of Merrick Manor. New construction prices per square foot are much less expensive than in Brickell or Miami Beach. The price-per-square-foot for Merrick Manor averages $360/square foot and comparable buildings in Brickell are $450-$500/square foot.

These real estate values found in the south will appreciate as municipalities increase capital improvements, like the redevelopment of Coconut Grove's waterfront. Also, the removal of the Convention Center in Coconut Grove will lead to additional green space and inviting restaurants. The waterfront will be new and preserve the history of the area at the same time. The southern part of Miami luxury real estate offers a great value and should attract those looking for just that. For more information Visit : - constecrealty.com

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Tag Words: luxury condos in miami, miami luxury real estate

Categories: Real Estate

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