Bal Harbour Takes The Lead As South Florida’s Top Market For Ultra-Luxury Real Estate
The real estate market in prestigious Bal Harbour has proven to be one of the ultimate destination for ultra high net worth investors (UHNWI). Real estate prices in Bal Harbour are comparable, and often times rival those in neighborhoods such as Star Island and Indian Creek, some of the most expensive and exclusive residences in South Florida. Bal Harbour has both very high pricing on a per-square-foot basis and above-average sizing on condo units. Projects such as The St. Regis Bal Harbour, Oceana Bal Harbour and the Ritz Carlton Bal Harbour have attracted European, Russian and Brazilian buyers who have accounted for the large percentage of investors in the private beachfront residences along the Atlantic Ocean.
The village of Bal Harbour, located in a tiny enclave just one square mile in size with less than 4,000 residents, has long attracted wealthy home-buyers seeking the ultra-luxury lifestyle. The sophisticated city is known to offer tourists and residents the best luxury experiences afforded with access to prime oceanfront and exclusive residences. Bal Harbour also offers amenities such as premier shopping at Bal Harbor Shops, exquisite 5-star hotels, top restaurants and beautiful beaches. The village is far enough away from the noise and busyness of urban centers but is within a short driving distance to many entertainment districts, attractions and recreational activities in surrounding communities such as South Beach, Sunny Isles, Downtown Miami. With evidence from investments in hotels, restaurants, real estate and shopping indicating sustained economic growth, the city of Bal Harbour continues to lead the luxury market and high-end real estate market in the South Florida region.