If you want a primary residence or one where you and your family will spend a lot of time, then lifestyle may control the decision. If you want to merge lifestyle and budget, then the Downtown Miami is lower cost option than say the South of Fifth neighborhood on Miami Beach, for example.

The answer to that question rests on the reason for your investment. If you want a primary residence or one where you and your family will spend a lot of time, then lifestyle may control the decision. If you want to merge lifestyle and budget, then Downtown Miami is lower cost option than say the South of Fifth neighborhood on Miami Beach, for example. The more exclusive neighborhoods include the islands such as Fisher Island, Alisson Island, Indian Creek, Venetian Islands, and Star Island and Hibiscus Island. These neighborhoods tend to attract primary residents.

If you are looking to maximize rental income, then buy where the rental market is strong. Renters look for high-quality apartments and are prepared to pay a premium to live in a neighborhood that enhances their lifestyle. Downtown renters, for example, spend 47% of their income on rent (compared to 65% in New York City) and family households are forecast to increase by 42% according to DDA.

Miami, in general, is becoming a family-friendly locale. Walkscore, for example, ranked the city #6 out of 15 cities and focused its assessment on Wynwood, Edgewater, and Downtown. The new Biscayne Line is a planned three-mile walkway linking Edgewater to Downtown and Brickell. Brickell itself is very walkable as it has become a 24/7 work, play, live neighborhood.

Short term investors who want to liquidate their profit in the next couple of years should consider pre-construction developments since buying pre-construction often enables post-construction profit-taking. For the same reason, focusing on luxury real estate in exclusive neighborhoods like Miami Beach is a very sensible route because the highest tier of any product, in this case, real estate, is always in comparatively short supply and high demand. Neighborhoods to consider for investment returns and for lifestyle when looking for luxury apartments Miami include the following:

Brickell is the financial capital of the city, is part of Downtown, and home to a rising number of affluent professionals. It is an ideal location for anyone seeking a business environment for their permanent home or a city pied-à-Terre. Mary Brickell Village and Brickell City Center offer bars, high-end shopping, and fine-dining restaurants. Brickell is well populated and has some prestigious condos such as Brickell Flatiron and Una Brickell Condos.

Brickell Key is an ultra-luxury man-made island just east of Brickell. It was created by the same international company developing Brickell City Center. As well as a luxury Mandarin Oriental Hotel and commercial buildings, Brickell Key has 11 beautiful waterfront condo buildings. Surrounding the condos is a jogging trail, and the island's center has appropriate retail establishments and a children's playground.

Coconut Grove is Miami's original community. It is in central Miami and fronts onto Biscayne Bay. It is desired for its history and serene lifestyle. It offers activities for every family, has a well-respected school district and some of Miami's best private schools. It boasts everything from museums, art galleries, gourmet dining, relaxed sidewalk cafés along its pedestrian-friendly streets, and lush waterfront parks. One of its luxury condo developments is Arbor Coconut Grove offering condos, penthouse apartments, and townhomes.

Miami Beach has several uniquely special neighborhoods. It has an affluent population, so the public and private school systems are excellent. Mid Beach is very family-friendly and quieter than some other neighborhoods.

South of Fifth (SoFi) is considered by many to be the best beach town in the whole area. It is, in effect, an ultra-luxury neighborhood of South Beach. It's surrounded by water, and so offers undreamed of waterfront views in every direction. It is a peaceful locale, yet close enough to the high-energy areas a little to the north. It has direct access to the beach of course and a 17-acre pet-friendly and child-friendly waterfront park. As well as the luxury apartment buildings mentioned in the introduction, there is the immensely prestigious Continuum South Beach.

South Beach (SoBe) is, of course, Miami Beach's world-famous neighborhood. Its art deco architecture draws visitors and longer-term tenants from all over the world. It is also famous for its fabulous shopping, restaurants, and its vibrant nightlife. An added benefit to living here is it is 10 minutes from Downtown proper, 15 from Brickell, and about 25 from Miami International Airport.

Coral Gables, southwest of Downtown, and about four miles from Miami International Airport (MIA). It is home to the University of Miami and to several foreign consular offices and, s has an excellent reputation for public and private schools. It has a good public transport system and is pedestrian-friendly, so children find it easy to get around. It has a definite Mediterranean feel to it because of its architecture.

"Downtown Miami vs Miami Beach Real Estate"

Conclusion

Miami's neighborhoods are as diverse as its people. They all have their unique charm, populations, and lifestyle. Some are more commercial, such as Downtown and Brickell but are experiencing more people buying residences and renting. Some neighborhoods are more serene, like Coconut Grove, and some are more on the world stage like South Beach. They offer different lifestyles and will attract investors to meet their own specific goals. All provide first-class buying and rental opportunities. By sharing your own goals with us we will be able to direct you to neighborhoods that will match your personal and investment goals.

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"Miami's Best Neighborhood to Live or Invest"

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"Which Neighborhoods Have the Most Desirable Houses For Sale in Miami Florida"