The Real Estate Buying Frenzy Isn’t Slowing Down in Miami

3
Dec

More people seek condominium properties in the Miami Beach area than in any other in the country, and these properties are moving at an alarming rate as was reported in The Real Deal. Currently, purchase prices are appreciating slower as more properties are being sold. This makes these properties extremely attractive to buyers and will ensure that this market remains popular for a while.   

 

What It All Means

 

Because of the current trend described above, investors consider Miami Beach real estate to be a great buy for the money, and this is true although the market has seen an increase in purchase prices over the past four years.   However, this isn’t stopping people from buying. Now that prices are   climbing at a slower rate, more people can take the opportunity to seek properties in Miami Beach like foreign investors have been doing lately.

 

The article in The Real Deal stated that condominium sales increased by 21 percent from August of 2012 to August of 2013. People were even more interested in single-family homes. Proof of this is in the fact that sales of these properties increased by 38 percent between August 31, 2012 and August 31, 2013. These numbers greatly impressed experts and prove that people continue to desire to purchase Miami real estate.           

 

Where Are the Investors From?

 

The Miami Beach real estate market has always attracted those who are in search of extreme opulence. The difference today is that these people are now coming from other parts of the world.

 

Several buyers were French, but there were many Canadian purchasers as well. Real estate experts believe that wealthy French investors like the American real estate market because they aren’t required to pay as much in taxes as they do in France. The welcoming winter weather is a large part of the reason that Canadians are in favor of purchasing here.

 

Condominium homes at the Apogee sold for an average $2,371 per square foot, and this price set a record for the area.   

 

Miami Beach, Sunny Isles Beach and Bal Harbour all have opulent properties that realtors are having difficulties keeping on their rosters. This makes hiring a knowledgeable realtor crucial if you are interested in purchasing one of these incredible properties.

 

Currently, more people are seeking to purchase the best properties in the Miami area. Before you can make this location your family’s home, you will need to locate your dream house. Miami realtors work with people from all over the world, and this gives them the experience that they need to find the perfect place for you. You may be in the market for a condominium home, or you may wish to purchase a single-family home. A Miami Beach realtor can find the right one for you, and you will be very happy with the price. 

 

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