Photo Credit: Debby Hudson
Sunny Isles Beach, FL is quickly becoming one of the most popular places to purchase luxury condos in South Florida. The reason? South Florida’s reputation of hustle and bustle and parties all day and night are wearing people thin, and they seek a much calmer way of life in the Sunshine State. This isn’t the only reason people are turning North for luxury real estate, though. Learn more about Sunny Isles Beach below to see if it’s an option for you.
How was the Sunny Isles luxury market in 2019 compared to 2018?
People are attracted to Sunny Isles luxury oceanfront condos not only because it’s a peaceful place to live. In April 2019, there were 168 condos sold on Sunny Isles Beach, and in 2018 there were 155 condos sold. YOY appreciation has increased since 2015 and 2020 will not change.
What are your projections for the value of properties and market conditions in Sunny Isles looking forward to 2020?
The average oceanfront luxury condo in 2019 sold for $406 per square feet, which is a decrease from 2018. This decrease in home prices is expected to continue, so THIS is the best time to buy in Sunny Isles.
With low mortgage rates and the availability of homes in Sunny Isles, people are taking advantage of the market.
Photo Credit: Jeff King
Are there any hot condos or developments in Sunny Isles that have gone up or will be completed in 2020?
You will be pleased to know that developments are going up everywhere. The following luxury oceanfront projects in Sunny Isles Beach are the ones that are scheduled to be delivered in 2020.
- Residences by Armani/CASA - 18975 Collins Avenue
- Turnberry Ocean Club - 18501 Collins Avenue
- The Ritz Carlton Residences - 15701 Collins Avenue
As for 2021 delivery, one of the most spectacular and highly anticipated projects is The Estates at Acqualina. Acqualina Resort Community that includes Acqualina Resort & Spa, Mansions At Acqualina and soon to be completed The Estates at Acqualina has the largest oceanfront exposure in Sunny Isles Beach. New residents will enjoy superb finishes, exceptional amenities, and unparalleled service. The project sells fast. Contact for additional information.
Estates At Acqualina – 17885 Collins Avenue
Any new restaurants or shopping centers in Sunny Isles that have recently opened up that you recommend?
There’s always something new popping up in Sunny Isles. What we’re excited about is the plan for the Chabad Community Center, featuring a Chabad restaurant. Our favorite restaurants include:
● El Tropico Cuban Cuisine
● II Mulino New York - Miami
● Tino Restaurant and Bar
● Lentrecote
● Cut 38
Photo Credit: Jay Wennington
For shopping, you can’t go wrong with:
● Aventura Mall
● Sawgrass Mills Mall
● The Village at Gulfstream Park
● Bal Harbour Shops
● Bayside Marketplace
What is your take on the current mortgage rates? Do you project these rates to go up or down in 2020 and why do you think this?
Everyone is nervous about a possible recession in 2020, but we’re not worried about it because the economy is too good right now and we don’t believe the Fed will ruin that for the U.S. Our prediction is that the low mortgage rates we’ve been enjoying the past few years will continue throughout 2020 and beyond. This will continue to motivate people to buy condos in the new developments along Sunny Isles Beach, which is also why there are so many of them going up right now.
Is there anything else you would like the Haute Audience to know in terms of Sunny Isles, as we head into 2020?
Sunny Isles is a beautiful, calm, and affluent place that attracts individuals who want the finer things in life without dealing with all of the busyness of South Florida. Getting in on a luxury condo now means beating out the crowds as more people find out about how nice Sunny Isles is to live. That’s why we’re expecting 2020 to be a busy year in luxury real estate.
