The Investment Value of Key Biscayne Homes
Limited Real Estate Inventory and high-End living make Key Biscayne homes a hot commodity
The 12 mile long private island of Key Biscayne is considered one of the most exclusive areas in Miami and has one of the highest incomes per capita in the United States.
Key Biscayne is known for its luxurious waterfront mansions with easy access to the open bay
$60 Million Key Biscayne home might become the most expensive home ever sold in Miami.
Key Biscayne homes are attractive to Wealthy Families
The exclusive and often waterfront homes attract the world’s wealthiest families and real estate investors, often looking for a solid place to raise their family. For families the most attractive aspects are the island’s safety (police control and gated entry), the presence of one of the best public schools in the USA, and the high-end quality of life and social scene. Other advantages are the great beaches, national parks and golf courses as well as the proximity to the Financial District in Brickell, Coconut Grove and even Miami Beach.
The Island is also a favorite with boaters because of the proximity to the open water. Unlike other areas there are no fixed bridges in Key Biscayne and almost all waterfront mansions offer an immediate or fast access to the open waters.
Home to many multi-million dollar mansions, the prices of Key Biscayne are increasing steadily. The least expensive home that was sold in the last year was sold for $1.6M (with $100K over asking price)
Key Biscayne homes are attractive to Investors
Real Estate Investors are mostly attracted by the exclusivity of the island. The high demand for Key Biscayne living cannot be answered by the limited supply. The Island only offers a selective amount of homes (especially waterfront homes) and unlike other Miami areas where home flipping is quite common, Key Biscayne is known for its steadiness and low turnover of home owners. The limited amount of inventory and low turnover rates combined with a high demand makes the prices increase year after year.
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