Miami Mansions Break Sales Price Records

by Isaac Benmergui, Esq on June 24, 2012

First it was the $25 million condo last month that broke the record for the highest priced condo ever sold in Miami-Dade County, then it was the $52 million mansion on Indian Creek Drive that squashed a pre-housing bust record and now the former Versace mansion, Casa Casuarina, was just listed at $125 million.

Million-dollar condo sales have spiked close to 20 percent over the 2006 peak prices, and Miami real estate agents are salivating at the prospects of future similar and even more impressive sales figures. “Hot” describes more than the weather, according to Jack Levin, chairman of the Miami Association of Realtors.

The good news comes with a word of caution, however, the frenzy of activity is showing signs of the bubble syndrome, as it appears wealthy buyers of the speculative variety are fueling the momentum.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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