Miami Real Estate Prices Compared to Prices Around the World

3
Feb

 

It might seem that real estate prices in Miami are on the high end of the scale, but one look at housing prices throughout the world shows the reality of the situation. While there are economists and journalists putting forth their opinion that real estate in the Miami area is overpriced, they are simply wrong. In fact, Miami homes on the market tend to be on the lower end of the pricing scale, compared to some other parts of the country. In fact, property in Miami is less expensive than real estate in New York, Denver, or even San Francisco.

This can be seen in the price per square foot comparison taken between Miami and San Francisco, for example. Miami real estate estimates come in at around $182 per square foot, while San Francisco prices tap out at around $520 per square foot. Taken in that context, it certainly seems that Miami prices are definitely not out of touch with the rest of the world’s housing prices.

Part of what makes Miami so attractive when it comes to real estate is the absolute beauty of the area. Anyone who has seen what life is like on the shore knows that Miami is one of the most dazzling areas to live. Because of the interest in the area, it stands to reason that a great number of terrific shops, boutiques, and restaurants are also found in Miami. Taken from any angle, living in Miami is nothing short of a dream come true. There are few other parts of the country that offer Miami’s unique combination of a cosmopolitan experience combined with a “laid back” beach lifestyle, making Miami homes for sale one of the first areas where some experts feel the housing market will begin its rebound.

It looks as if this is the season when Miami is going to be one of the hottest areas for real estate, with buyers from the North looking to bask in the sunshine while their friends and neighbors shiver in the cold. By the same token, many European buyers have set their sights on Miami, both for the scenery and the incredible value. This can be seen by comparing real estate prices in Helsinki with the prices in the Miami area. Someone living in Finland, for example, would be paying around $1,366 per square foot for their real estate. When that is compared to the prices in Miami, it is easy to see why Miami is attracting so much attention from around the world.
 

Blog Category: 
miami condos and homes
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