Miami Housing Bubble Is Bursting, Over 1mln Discount On Porsche Design Tower Condo

This morning I received an email from Piquet Realty in Miami, Florida highlighting “it’s a buyers market!”. Back in 2014-2015, I spent a majority of my days working with various entities in South Brickell. Back then, construction cranes were flourishing, as new towers were being erected. One evening I went up to Aventura and from the distance saw the Porsche Design Tower.. A marvelous structure but unfortunately it was completed at the end of a cycle.

Per Piquet Realty,

Condo 4 bedroom & 4 bath w/ 4,752 sq. ft.

  • MARKET VALUE: $7,350,000

Major price drop on one of South Florida’s most luxurious address. This unit at the Porsche Design Tower offers gorgeous views, top of the line appliances, summer kitchen, private terrace, and a pool. Building amenities include a fitness center, club room, movie theater, virtual golf, race car simulator, private restaurants, and more.

Miami home values have stalled for the past 2.5 years rounding a top as the foreign money dries up, along with overbuilt conditions….