Known as “The Gateway to the Americas”, Miami is not only a haven for retirees and young professionals but also a Mecca for foreign investors. Owing to its strategic geographical location, the availability of Miami condos, penthouses and luxury villas is plentiful. Being an international hub for commerce, entertainment, education, finance, media and trade, Miami is an undeniable draw for international foreign investors who are bent on owning a piece of real estate in this part of the U.S.
A recent survey conducted by a group of foreign investors revealed that Miami, along with other cities in Florida are among the top investment destinations for fiscally savvy foreign property buyers. Aside from its ideal location, there are several other reasons for the popularity of Miami as a prime property destination. The city’s vibrant economy, the beautiful landscape, a well-planned infrastructure and well-distributed transport system have always placed Miami on top of real estate charts. Other factors that come into play include the continued rise in foreclosure postings in the city, the continued price cuts due to the sharp increase in the number of foreclosures, and the status of Miami as a popular tourist spot.
Acquiring a property in Miami is also a great investment with strong prospects of returns for investors and homebuyers alike. This is not surprising when you consider the high standard of living and culture prevalent in the area, not to mention its favorable climate and its close proximity to commercial offices, educational institutions, retail stores and emergency offices. Miami properties offer perfect spots which will ultimately yield valuable returns and are likely to grow each day. For locals and foreigners, a Miami home having all amenities available satisfies the cravings of even the most discerning property buyers, both from lifestyle and monetary viewpoints.
Another essential aspect to consider is that foreign investors are eyeing Miami beach condos, multi-family apartments, vacation houses and town houses. Note that Miami is popular for its magnificent beaches and luxurious resorts. Prior to the financial crisis, the city’s tourism hit record highs and is currently on the rebound. The state of Florida attracts more than 40 million tourists per year and guess where majority of them would end up? Indeed, Miami remains among the top tourist destinations in the world and one of the top property hotspots in Florida and in the USA in general.
While the ravages of the recent recession have caused real estate sales for local residents to plummet, the interest in Miami properties from foreign investors is as hot as ever. The relatively high number of professionals who have ventured into the real estate market to assist foreign buyers is a proof of this. Sales are on the rise as most foreign buyers try to capitalize on the depressed economic conditions. They are either making their purchases to convert the properties into business establishments or sell them later when market prices recover. Buying low and selling high has never been easier. On top of the low prices are low interest rates, so how can savvy foreign investors with overflowing bank accounts pass up on such great deals...