Invest in Miami
22 February, 2010 No Comments
It appears that the Florida real estate market, particularly Miami, is recovering from a hard crash.
Currently, the real estate market in Miami is increasing sales.
The average sales price in Miami rarely exceed €150.000, which is affordable for Europeans.
The sale of properties in Miami has increased due to:
- The arrival of the U.S. President, Barack Obama.
- La housing stock reduction, which the famous subprime foreclosures left in the hands of banks (the properties were auctioned).
- The increase of malls and shops.
- The decline in housing prices, added with the weak dollar, which has created a very attractive market to foreign buyers, which has led to a high percentage of international customer transactions.
- The important market for luxury real estate, which has maintained its buyers due to falling property prices up to 50% exclusive. The buying clients come mostly from USA, Canada, Europe and Latin America.
- The potential of the city to absorb the overbuilding generated in recent years due to its climate and as a greater international resort, cruise and shipping companies on the continent.
Both the Spanish Chamber of Commerce as the ratio of financial analysis by Standard & Poor’s, advise investing in Miami real estate market.
In new construction homes, promoters offers great incentives:-
bear the maintenance costs and taxes for 2 years.
-
ensure the rent to the owners of the property for 3 years and if sales prices fall, guaranteeing repurchased by the same purchase price, proposed a housing finance with 35% of the down payment.
Miami has the Latin charm (65%, mostly Cubans) and the efficient and practical system of USA. With 2,400,000 people, Miami is a cosmopolitan city, full of celebrities, millionaires and a lot of visitors.
