If you are searching through Miami neighborhoods, looking for a property you’d like to invest in, you may be intimidated by the laundry list of options. Of the 25 neighborhoods in the city, there are several that stick out in terms of property value. Let’s have a look at a few.
This neighborhood boasts a trendy, chic, artsy feel, feeling more like a ginormous art piece rather than an actual residential area. Wynwood has been an up-and-coming area for some time now, growing more and more with its selection of shops, cafes, art galleries and museums. Properties in Wynwood are priced lower than many other Miami neighborhoods, with potential to tap into rent. Rent costs sit at an average of $2,400 per month in Wynwood.
Located in the northern section of Wynwood, Miami Design is a completely refurbished area, which was once littered with worn-out houses and warehouses, stunting the value of the area. The neighborhood now contains a shopping area with luxury shops, and rental prices are appreciating in value as time goes on. Get in on the ground floor now!
An up-and-coming neighborhood, Bayshore has seen high levels of real estate appreciation recently, and that’s mostly due to the increasing rent prices while the price per square foot stays around the same amount. According to a review of the neighborhood, prices dropped in 2017, creating an opportunity to invest at a lower entry cost.
Located east of Wynwood and close to the waterfront, this neighborhood is also seeing large amounts of refurbishment and rebuilding. New homes as well as high-rise condominium complexes are sprouting up, supporting Beverly Terrace and creating a fresh, new place to be able to call home. Rental rates are approaching $2,000 a month, and two-bedroom units can be purchased for anywhere between $300,000 and $600,000.
Miami’s growth, both in economy and residential space, doesn’t show any signs of stopping. If you want to get in on the ground level of the flourishing real estate market, don’t hesitate to do so!
CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!