At present the real estate business of South Florida is one of its best moments, PROPERTIES AND LUXURY RENTALS, offers the best properties available in this beautiful area of Florida and then we explain all the advantages of invest in this market.
Miami is a unique city and a global world-class destination. In 2011, the Wall Street Journal considered to Miami, along with Hong Kong, London, Paris and New York as the new global city. And this year Knight Frank`s Wealth positioned Miami in seventh place in the list of the most important cities in the world of the wealthy world. The rankings are based on economic activity, quality of life, knowledge, influence, political power, and the number of residents high net worth.
Miami offers a strategic location between Latin America and Europe, beautiful weather all year round, cultural affinity for all and an exciting lifestyle. Some aspects that enhance the attractiveness of Miami are affordability compared to other markets world-class, high rental yields and favorable exchange rates for foreign buyers.
The growth of Miami continues to attract new residents, visitors, tourists and global business enterprises. The area exhibits world-class shopping venues, restaurants offering cuisine from around the world, sports and events, all kinds of entertainment and endless recreational options amid a cooling global culture. These factors will continue to attract trade and domestic and foreign buyers Miami unlike any other market for a long time to come.
Miami is also considered a business center for companies in Latin America in the areas of technology, logistics and transportation. Building on the boost of Art Basel and Art Museum Pérez (PAM), Miami has also quickly become a center for international artists, collectors and art buyers.
Miami continues to benefit from increased activity of international and local purchase of American and international buyers. This great city is located at the top of a market for vacationers, baby boomers and immigrants from other states.
After three years of record sales, real estate market in Miami was strengthened in 2014, while today reflects a better balance between buyers and sellers because of the large amount of existing buildings and new projects.
Current markets create opportunities for both buyers and sellers. While many owners have regained lost with the fall of the market today can benefit from the sale of property assets average sales price in Miami remain at 2004 levels Those who have purchased in the last three or four years are making strong returns on their investments.
Single-family home prices increased again in October, maintaining affordable 2004 levels despite 35 months of constant price increases year after year. The condo prices also rose in October, marking 40 months of growth in the last 41 months.
The median selling price of single-family homes increased 9.1 percent up to $ 240,000 from $ 220,000 in October 2013, while the median selling price of condominiums increased by 8.8 percent to $ 185,000.
Most Miami properties are sold quickly and almost by initially asking price, reflecting strong demand. In October, sales of single-family homes and condos were performed with 95.3 and 93.7 percent of the original price, compared with the average number of days on the market of houses 96.3 percent and 97.5 percent in October 2013 it was sold in October only 43 days, while the condominium was 58 days.
In Miami-Dade, 55.8 percent of the total residential transactions October 2015 were in cash, compared with 60 percent in October 2013. Cash sales accounted for 40.8 percent for single-family homes and 67.8 percent for condominiums.
Nearly 90 percent of foreign buyers in Florida acquired their properties in cash, this reflects the strong presence of international buyers in the real estate market in Miami. Cash sales in Miami are more than double the national figure of 27 percent, reflecting the strong presence of international buyers in the local market.
After the recession of the past decade, excess housing inventory locally was absorbed at a record pace, faster than experts predicted, resulting in limited quantities in 2011 and the housing shortage in 2012.
Currently, exists between 5.8 and 8.2 months supply of inventory of single-family homes and condominiums, respectively, in Miami-Dade. A healthy balanced market between buyers and sellers typically offers six to nine months supply.
With 17801 active housing inventory in Miami-Dade is now 19.5 percent higher than it was in late 2013, when total assets amounted to 14892. Since August 2008, when sales bottomed out, the inventory of existing homes have fallen more than 60 percent below 43095 active.
The new construction offer is affecting sales of existing condominiums, as consumers are drawn new buildings. Large sales of new construction condominiums on the east coast of Miami (I-95) continue to reflect a strong demand for new properties.
At the end of October, nine (9) tower had been completed in 2014 in Miami-Dade County east of I-95, 54 are under construction, and 62 are planned but have not initiated the development and announced 66 towers that have not yet been approved.
The average price per square foot of these units is $ 855, compared to $ 850 last month.
For all this, PROPERTIES AND LUXURY RENTALS, invites you to invest in the best real estate market, with the help of the best experts.