Real Estate

Renting is more affordable than owning in Miami-Dade — for now

Illustration of a welcome mat that says SIGHHH instead of welcome.

Illustration: Brendan Lynch/Axios

Renting a 3-bedroom is more affordable than owning a comparably sized, median-priced home in Miami-Dade County.

  • That's according to a new report from real estate database company ATTOM.

Foreign investment floods into Miami real estate after pandemic dip

Data: Miami Association of Realtors; Table: Axios Visuals
Data: Miami Association of Realtors; Table: Axios Visuals

International investment in Miami's real estate market has spiked over the last year after dipping during the pandemic.

Driving the news: Foreign buyers picked up $6.8 billion of South Florida residential real estate between August 2021 and July 2022, according to a new report from the Miami Association of Realtors.

Miami real estate agents experiment with ChatGPT

A hand holds a smart phone with ChatGPT opened.

Is this the future of real estate? Photo: Gabby Jones/Bloomberg via Getty Images

What happens when you take the "real" out of real estate?

Driving the news: Real estate agents in Miami and across the country are experimenting with how the new artificial intelligence tool ChatGPT can be used to write house listings, communicate with developers and produce content.

Here's what experts say 2023 holds for Miami real estate

Illustration of the year 2022, with a keyhole for a zero, which zooms in so you can see through the keyhole to the year 2023.

Illustration: Brendan Lynch/Axios

Miami shows no signs of a market crash. Here's what experts say to expect instead.

1. The market will hold strong.

Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn't seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.

Pink-and-green condo for sale in North Miami finds fandom on Twitter

A pink rotunda wrapped in mirrors, with pink couches and carpeting.

A very pink room. Photo: John Goez/Swift Pix

If Kermit and Miss Piggy retired in Florida, this North Miami condo would make the perfect love pad.

Details: The spacious 2-bed, 3-bath unit off Northeast 114th St. personifies the 1970s Miami aesthetic — with an all-pink rotunda surrounded by mirrors and a bedroom draped in green carpeting and wallpaper.

Miami Beach's iconic Lincoln Road clock tower to be renovated

A tall white building with red digital clock at top

A rendering of the planned clock tower at 407 Lincoln Road, courtesy of SHVO

Miami Beach is poised to have a working clock tower on Lincoln Road.

Driving the news: The city's Historic Preservation Board last week approved New York-based development firm Shvo's plan to redevelop the 407 Lincoln Road building, including the iconic clock atop it.

Developer Michael Shvo is bullish on Miami Beach

Two white couches and a dark coffee table in a sunlit room with white ceiling

A rendering of the planned loggia at 407 Lincoln Road, courtesy of SHVO

Michael Shvo, an Israeli immigrant, began his real estate career as a broker and moved into development with his firm Shvo.

Sami Sparber
Dec 19, 2022 - News

Miami renters can't afford starter homes

Data: Point2Homes; Map: Tory Lysik/Axios Visuals

Miami renters earned 40% of the income they would need to afford a starter home, according to an analysis of October data by real estate website Point2Homes, Axios' Sami Sparber writes.

  • Researchers considered "starter homes" properties valued in the lower one-third of all available homes for sale.

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