The Secret of Why Foreign Investors Are Buying in South Beach

2
Jun

South Beach real estate

Investors, people in retirement and those on vacation have a great opportunity to find South Beach condominiums with the most desirable luxuries possible. South Beach real estate is close to where the most adventurous can go deep-sea diving, charter an airplane or a yacht, play water sports, play golf or tennis, shop at the art galleries and boutiques and enjoy the best weather throughout the entire year.

 

Purchase prices for the best condos for sale in South Beach are undeniably huge, but the view that people have from these highly fashionable and gorgeous homes makes the price worthwhile. Asking prices for these homes range from $20 million to $30 million.

 

Southern Florida has several great condominium options for foreign buyers, and those from Latin American countries are taking advantage of them at the greatest rate. These buyers know that they are receiving favorable deals in this location. Investors in the United States have also taken notice, and they are using real estate in the South Beach area as a secure place for their available funds in increasing numbers.

 

The Miami Real Estate Market Is Recovering

 

The housing market is recovering in the southeastern region of Florida as more people are buying condominium homes in this area. Demand is high as are the prices. As a matter of fact, housing prices reach a new high every single month in South Beach, and this has been happening for more than 12 months with all types of residential properties. Developers have noticed this trend, and they are setting out to meet the demand with more than 24 new construction projects ready to begin construction this year.

 

Of the recent South Beach condominium buyers, 80 percent are from Asia, Europe and Latin America. Lower prices are encouraging these buyers to make large deposits so that they don’t miss the chance to purchase one of these fabulous homes. However, time is running out, and potential buyers only have until the end of next year to make the commitment to purchase a South Beach condominium unit. Currently, the vacancy rate is lower than eight percent.

 

Speculators Love this Market

 

Speculators have come to South Beach to search for their riches for many years, and they aren’t surprised when the markets create a bubble, experience a burst and then create a bubble again in southern Florida. Foreigner investors are coming from countries where the currencies are strong, and they are ready to take advantage of the boom after the bust that is happening in South Beach right now.  

 

South Beach is particularly attractive to Latin American buyers because their governments are currently seeking ways to separate them from their money. Their countries are also experiencing political trauma. As a result, wealthy residents are seeking other ways to diversify their funds, and they have found that condominium property in the United States is a safe investment for them.

 

The top condos for sale in South Beach are safe places for wealthy foreigners to invest their money, and this fact helps to poise this area for a resurgence after the housing bust of 2007.

 

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