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What to Consider in the Resale Value of a Luxury Condo


March 31, 2022

 

Due to the increased demand for condominiums, purchasing a luxury condo can be a profitable investment, as condos provide a high return on investment. Here are a few things to consider when investing in a luxury condo.

 

In the Miami condo market, different floor plans have varying resale values. Larger floor plans typically have the most resale value. Even individuals who are single may choose a larger apartment with a separate office, den or guest bedroom. This as the demand for pure one-bedroom apartments is lower than larger units. Similarly, there are very few top penthouse apartments in South Florida, which keeps the demand higher, even during a downturn in the market. If you want to maximize the value of your Miami condo when it comes time to sell, you should purchase as much space as your budget allows.

 

If you buy a condo in a high-rise building, the floor on which you live has an impact on the resale value. The higher the floor, the better the resale value is usually. Residents of luxury apartment buildings in Miami desire panoramic views of the cityscape, Biscayne Bay and the Atlantic Ocean, which are often uninterrupted from higher floors. Even if you buy a property on a lower floor with wonderful views, there’s a chance that another developer will build something close that will block the view. 

 

It’s no surprise that Continuum in South Beach is one of the most sought-after luxury condos in the area. 100 South Pointe Drive in the South of Fifth (SOFI) district is home to a slew of award-winning restaurants, boutiques and clubs, as well as the city’s world-renowned beaches. With 318 units, one to five bedroom condos and penthouses ranging from 1,200 to 5,000 square feet, Continuum offers a diverse range of living possibilities. 

 

To view a full list of Continuum condos for sale, including what amenities we offer our residents, visit Continuum in South Beach online.