1. SOUTH BEACHSouth Beach is a 12- mile-long island that lies adjacent to the city of Miami across Biscayne Bay, connected by the MacArthur Causeway. Development of the island only really began in 1913 after the bridge was built to connect it to the mainland. The 1920s saw a building boom in South Beach, the hub of the island, and famous millionaires such as JC
Penney and Harvey Firestone built expansive mansions along Collins Drive. In the 1930s, there was an Art Deco building boom and South Beach now has around 800 preserved buildings in the Art Deco Historic District. Over the years, the area has seen good and bad times, but after it was added to the National Register of Historic Places in 1979, South Beach has gradually established itself as one of the country’s most desirable resorts. Ocean Drive is home to the nest array of Art Deco buildings in the world, as well as a wide, sandy beach, great restaurants, delis and chic boutiques. It’s an incredibly trendy area, with fashion victims strutting up and down the street alongside expensive, ashy cars and motorcycles. The beach is one of the most popular locations in the US for fashion photography shoots, and Ocean Drive was also home to the late designer Gianni Versace. Property is expensive in this bohemian district, with prices ranging from $80,000 to $10,000,000, way above the state average. The median house value on the island is well over $3,000,000 and South Beach is the most exclusive end. Luxury new high-rise blocks offer prices ranging from $384,000 for the smaller onebedroom apartments, up to $12 million for the nest penthouse. A two-bedroom townhouse will set you back around $1,179,600. Houses in the protected areas are phenomenally expensive; renovated ats and lofts are desirable too, and don’t tend to stay on the market for long. There are virtually no large houses available for conversion into apartments in the Art Deco district, so prices are rising. This is an area primarily full of condominiums and holiday homes, and rental demands are very high here. A one-bedroom condo will earn an average of $907 a week between the winter and summer months.
Key facts
■ POPULATION 49,522
■ AIRPORT Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ SCHOOLS Fienberg Leroy D Elementary School, 1420 Washington Ave, Miami Beach, FL 33139-4110, Tel: 001 305 532 9333
■ Miami Beach Senior High School, 2231 Prairie Ave, Miami Beach, FL 33139-1517, Tel: 001 305 532 0846
■ MEDICAL South Shore Hospital & Medical, 600 Alton Rd, Miami Beach, FL 33139, Tel: 001 305 674 8155
■ PROS This is an exciting area in which to live, with a blend of cultures, including large Latin, Jewish and gay communities
■ Easy to access, with an excellent infrastructure
■ One of the most well-recognised beaches in America, South Beach is known for its Art Deco district, and it attracts families as well as singles and young couples
■ CONS There are restrictive building regulations in the area, and there are increasingly few renovation properties on the market
■ This is a poseur’s paradise and it may not be to everyone’s taste
■ Not an area renowned for great restaurant service.
2. NORTH MIAMI BEACH
Confusingly, the city of North Miami Beach actually lies on the mainland north-west of the island of Miami Beach. Development began in earnest in 1917 when newspaper baron Lafe Allen purchased 557 acres of land with the intention of building a city with wide boulevards and residential streets. Originally called Fulford-bythe-Sea after Captain William H Fulford who initially owned the parcel of land, the name was changed in 1931 to take advantage of the growing popularity and renown of nearby Miami Beach. After the completion of a major thoroughfare in 1951 – the North Miami Beach Boulevard – new residential areas were developed and new businesses were attracted; the city gradually expanded and it’s now home to approximately 42,000 people. In 2000, a $17.5 million bond for neighbourhood construction improvements was approved and many residential areas have been upgraded. The central Hanford Boulevard has also been improved and a Wal-Mart Supercentre store has opened, which will attract shoppers. The city o ffers a variety of property, from starter homes for $38,000 to luxurious waterfront condos for $1.3 million. North Miami beach is still an a ordable neighbourhood compared with much of Miami, and the average price in 2008 was $180,244, well below the state average. Real estate prices have been rising steadily since then and the city has a good selection of housing. At the low end of the market,
the average two-bedroom house price is $171,000 and three-bedroom homes are just over $204,250. The Eastern Shores suburb, which has lots of homes with water views, is the most expensive area of the city. Further out of town, Sunny Isle and Golden Beach are phenomenally expensive. This area primarily offers long-term lets, generating an average of $997 a week for a one-bedroom condo, and $2,159 for a three-bedroom condo.
Key facts
■ Population 40,786
■ Airport Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ Schools Allison Academy, 1881 NE 164th St, North Miami Beach, FL 33162, Tel: 001 305 940 3922
■ Beth Jacob High School Inc, 1110 NE 163rd St, North Miami Beach, FL 33162, Tel: 001 305 940 1172
■ Medical Parkway Regional Medical Centre, 160 NW 170th Street, North Miami Beach, FL 33169, Tel: 001 305 651 1100
■ Pros Intensive redevelopment and regeneration have made this a more attractive neighbourhood, with plenty of amenities
■ With a variety of property on sale, this is an affordable area
■ Cons The condo market has crashed, with prices almost half of those of 2007
■ This is still a fairly grotty area compared with many other parts of the region, despite the recent facelift.
3. BISCAYNE BAY
Biscayne Bay separates mainland Miami from the adjacent islands. It’s the world’s busiest cruise port and the land that fronts the bay area on both sides provides some of the most
desirable real estate in the region. Key Biscayne is an exclusive playground island that lies five miles southwest of downtown Miami, and it’s connected to the mainland by the immense Rickenbacker Causeway. In the early 20th century, two thirds of the island was a coconut plantation and it became a favourite spot for the rich to gather at the start of the Miami “winter season”. With beautiful parks and a host of excellent waterfront restaurants, Key Biscayne is one of the most expensive areas in the region. Two-bedroom houses start at just under $250,000, while large detached properties can go for anything between $1 million and $20 million. Penthouse apartments in exclusive gated communities often sell for over $5 million. On the other side of the bay, downtown Miami is full of gleaming high-rise blocks which are dotted with historical, early 20th-century buildings. Brickell Avenue, which faces the bay, is home to a wealth of international banks and in the past few years, thousands of new apartments have been built. It’s rapidly become one of the most vibrant areas to live in; prices range from around $250,000 into the many millions. New shops and restaurants are springing up to cater for the influx of residents and prices should rise steadily.
Adjacent to Brickell Avenue lies Brickell Key, a small, triangular-shaped island which houses a number of towering condos. Its history dates back to 1896 when Henry Flagler had a nine-foot-deep channel dug from the Miami River, creating two offshore islands in the process. In 1943, an investor acquired the islands and joined them up to fashion a 44-acre
island just hundreds of feet from the mainland. Condos here average $275,000. Brickell Avenue is not a popular area for short-term rentals. Most rentals here are long-term and vary from $1,473 a week for a one-bedroom condo to $1,714 a week for a larger two-bedroom condo.
Key facts
■ Population N/A
■ Airport Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ Schools Coral Gables High School, 450 Bird Rd, Coral Gables, FL 33146- 1306, Tel: 001 305 443 4871
■ Coconut Grove Montessori School, 2850 SW 27th Ave, Miami, FL 33133, Tel: 001 305 444 4484
■ Medical Health South Doctors Hospital, 5000 University Dr, Miami, FL 33146-2008, Tel: 001 305 666 2111,
■ Mercy Hospital, 3663 S Miami Ave, Miami, FL 33133-4253, Tel: 001 305 285 2171
■ Pros An ideal location for those drawn to the fast-paced, urban lifestyle of Miami
■ Highly accessible for downtown Miami and all amenities
■ Boasts some of Miami’s most innovative and colourful architecture, such as the Atlantis apartment block
■ This is a hugely affluent area, home to international banks and businesses
■ This area has developed a vibrant social life, with numerous places to shop and dine
■ This is the fastest growing area in Miami
■ Development levels have been massive
■ Cons This is a phenomenally expensive part of Miami, known as the original “Millionaires’ Row” where money really talks
■ It ‘ dominated by the Latin American bankers and businessmen
and prices remain very high
■ 99 per cent of property in this area consists of condos, which in turn means the market has collapsed as Miami has the highest level of condo foreclosures in Florida, with prices halving in some areas.
4. AVENTURA
The city of Aventura was incorporated as a residential community as recently as 1995. Essentially, it’s an upmarket development of condominiums and homes, with many full-service communities in luxury gated developments. Its population has risen rapidly and is now approaching 30,000. In recent years, almost $50 million has been spent on the city’s infrastructure: drainage, pavements, lighting and parks are all required for new developments. Nearby, the Aventura Mall is home to 200 shops, four of which are department stores, including upmarket Macy’s. Development continues apace and many new waterfront blocks are under construction. Some of the new communities, such as Porto Vita, Hamptons South and “The Parc” at Turnberry Isle, are extremely exclusive, with prices rising as high as $10 million. Williams Island even has its own 55-man security department. Older, one-bedroom apartments can start as low as $152,278, while three-bedroom, single-storey homes start at just under $516,000. The median age of residents is over 50 years old,
and some of the communities are for over-55s only. Aventura is more of a longterm rentals market, with monthly rental values varying from $1,199 to $1,799 a month for a one-bedroom condo. However, this remains an extremely expensive market.
Key facts
■ Population 25,267
■ Airport Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ Schools Aventura Montessori
School, 21058 W Dixie Highway, Miami, FL 33180, Tel: 001 305 932 1716
■ Miami-Dade County, 4001 NE 2nd Ave, N Miami Beach, FL 33160-4819, Tel: 001 305 245 0120
■ Medical Aventura Hospital and Medical Center, 20900 Biscayne Boulevard, Aventura, FL 33180, Tel: 001 305 682 7000
■ Pros: Aventura is one of Miami’s newest communities and has undergone a facelift that has made it a very desirable place to live
■ There are a number of new amenities including a $4 million recreation centre
■ This is a luxurious condo community, well located for the airports and other cities in the region
■ Lots of luxurious waterfront condos
■ Cons: The average residents are extremely wealthy 50-somethings and
living costs are extremely high
■ The average property price is considerably higher than the state average
■ There are a lot of high-rises in this area.
5. BAL HARBOUR
Sitting on the northern tip of Miami Beach, Bal Harbour Village is a small, exclusive resort town of around 3,500 inhabitants. It was formed in 1946, and its first apartments were converted barracks left by the US Army at the end of the Second World War. It was also home to a prisoner of war camp which is now the site of the area’s biggest draw: the exclusive shopping mall. Bal Harbour was the first planned community in Florida to have its utilities incorporated underground. Careful planning and strictly managed growth have ensured that Bal Harbour remains as charming – if somewhat exclusive – as it was in the post-war years. Its most famous attraction is Bal Harbour Shops, an open-air mall with palm trees, fountains and the finest stores and boutiques in Miami. Real estate is, as you might expect, quite phenomenally expensive; the average price for a home is around $1,149,465. Very few new buildings are permitted, although recently, two beachfront blocks sold out quickly and prices started at $1.2 million. At the lower end of the market, one-bedroom houses start at just under $307,000, although the best penthouses on Collins Drive can hit the $4 million mark. Detached homes with a view of the water regularly sell for around $4.5
million. Prices will continue to rise because of the town’s exclusivity and strict building restrictions in the area. Bal Harbour is a long-term rentals market. This is an expensive market to break into and it caters primarily for the more affluent buyer. Weekly rentals vary between $540 and $4,500, with a two-bedroom property earning the landlord an average of $1,600 a week.
Key facts
■ Population 3,305
■ Airport Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ Schools Bay Harbour Elementary School, 1155 93rd St, Bay Harbour Islands, FL 33154, Tel: 001 305 865 7912
■ Ruth K Broad Bay Harbour Elementary School, 1155 93rd St, Bay Harbour Islands, FL 33154-3907, Tel: 001 305 865 7912
■ Medical Parkway Regional Medical Centre, 160 NW 170th Street, North Miami Beach, FL 33169, Tel: 001 305 651 1100
■ Pros: This is a small community well-known as a destination for the rich and famous
■ There are lots of luxurious shops housed in Bal Harbour village mall
■ Bal Harbour offers a number of apartment buildings, condos and single family homes
■ There’s a wide variety of quality restaurants offering a variety of different cuisines
■ Cons: This is an extremely stylish and expensive community which is costly to invest in
■ The average house price is way above the state average.
6. SURFSIDE
Surfside is a small resort town situated just south of Bal Harbour at the northern end of Miami Beach. Founded in 1935, it was incorporated by members of a private surf club and it’s now home to nearly 5,000 inhabitants. The mile-long beach is the town’s most popular attraction, and there are plenty of reasonably priced hotels, restaurants, cafes and shops,
particularly in comparison with illustrious neighbours South Beach and Bal Harbour. Surfside retains a great deal of small-town charm; the beachfront hotels and condominiums aren’t permitted to exceed 12 storeys, and the rest of the town is relatively low-rise. As such, the town hasn’t suffered the over-development that other places have, and its population
remains at a stable level. Although less expensive than the neighbouring towns, property still sells at well above the state average because it’s a prime location. Detached two bedroom homes start at around $455,000 and larger plots can sell for well over $2 million. One-bedroom houses range from around $225,000, but can cost as much as $2 million for a beachfront penthouse. As in most Floridian towns, prices are rising and demand is strong. For those with very deep pockets, neighbouring island Indian Creek has homes in the
$30 million bracket. As with most of Miami’s rental market, despite the occasional hotel rental, this area is primarily geared for longterm rentals. It’s very expensive and not recommended for those seeking to buy for investment as the rates of short-term rentals are higher. A week’s average rental for a one-bedroom condo here will generate an average of $867. A luxury three-bedroom condo will earn the landlord $3,383.
Key facts
■ Population 4,909
■ Airport Miami International Airport, PO Box 592075, Miami, Florida 33159, Tel: 001 305 876 7000
■ Schools Bay Harbour Elementary School, 1155 93rd St, Bay Harbour Islands, FL 33154, Tel: 001 305 865 7912
■ Ruth K Broad Bay Harbour Elementary School, 1155 93rd St, Bay Harbour Islands, FL 33154-3907, Tel: 001 305 865 7912
■ Medical Parkway Regional Medical Centre, 160 NW 170th Street, North Miami Beach, FL 33169, Tel: 001 305 651 1100
■ Pros: Strict zoning and building regulations have maintained Surfside’s pleasant ambience, preventing its skyline from becoming dominated by high-rise buildings
■ Surfside is recognised as having a stunning beach, as well as the nudist beach of Haulover Beach Park
■ This is a family-orientated area with plenty for both parents and children to do
■ Collins Avenue has undergone expensive refurbishment, while Harding Avenue maintains the old-fashioned Miami feel
■ Surfside has an unspoiled beach and preserved nature area
■ Cons: With the average house price at $502,250, this is an extremely expensive area
■ This is a primarily a preconstruction market, with prices varying from $255,000 to $2 million.