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I think your selection depends on your personal preference as well as price range. South Beach has more dining and entertainment options, but is also the priciest and most congested. Many foreigners, especially germans, seem to like Sunny Isles Beach because of its proximity to South Florida's only "clothing optional" beach, Haulover Beach. But Sunny Isles Beach is also relatively "sleepy" with fewer year-round residents and fewer nice restaurants.
Also, there are lots of relatively decently priced oceanview condos in the downtown/brickell areas of Miami. They are just not beachfront. South Beach and Key Biscayne are only 10-15 minutes from downtown Miami, and there are lots of dining options in walking distance.
Right now, there are lots of condominiums available for rent by owner, some furnished and available for short term rentals. You may wish to rent a condo for a while in a target area before committing to buy. Check craigslist for a quick sample of listings in each area.
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Where to buy a condo on the beach in South Florida
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