South Beach Condos Slowing Down In 2011 — Could Lead To South Beach Condo Rental Rates Going Down
Everybody knows that South Beach is one of the most spectacular locations in the South Florida region which is why many of the tourists that come to South Florida do tend to make plans that involve spending time in South Beach.
Since a great majority of the people that come to South Beach tend to be on holiday, it is only natural for many of them to seek out the best accommodation options which do not involve any of the local hotel establishments since these options are rather bleak and generic as opposed to the wide array of South Beach condos which are sure to enhance their luxury living experience significantly.
Aside from the fact that these upscale condos are able to make their luxury experience even better, these rental options are much cheaper than the usual hotels that most of the tourist go for whenever they spend their holidays in different areas. It seems that people who are able to experience staying at these upscale condos end up completely satisfied with their choice.
However, it seems that 2011 statistics have slowed down as an average drop of about 13 percent has been recorded over the past couple of months. Of course, these figures are taken into comparison with the figures from 2011 where tenants were able to elase an average of 136 South Beach condos each month. Naturally, people are looking to find out why things have turned out the way that they have in 2011 because it always helps to understand how things work on the local real estate market.
It seems that real estate market analysts have been able to pinpoint a possible factor being the competition that has been coming from the Downtown Miami district which is four miles away from the South Beach. It seems that Downtown Miami condos have been presented in a manner that is a lot more affordable than those within the South Beach area.
Nevertheless, people are able to stand firm in the fact that South Beach and its great selection of upscale condos are certainly worth every penny that goes into their rental.
But the good news that lies behind all of this is that tenants will most likely be forced to reduce their rental rates in order to make up for the business that has slowed down over the past couple of months which also means that any tourists that are hoping to come down to South Florida will have beautiful South Beach condos to choose from which are most likely going to come at better prices.
South Beach Condos