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Three Reasons Foreign Property Buyers Have Been Eager About The Miami Real Estate Market
There has been an exceptional amount of activity on the Miami real estate market and a large percentage of the total has been coming in foreign property buyers who have been active in seeking out the most rewarding opportunities on today’s market.
Today, we have put together a list of three significant reasons foreign property buyers are so eager about their opportunities within Miami. If you happen to be one of the many individuals who would like to engage in real estate, you might find yourself in the perfect position to consider these reasons as you assess how you can make the most rewarding purchases today.
Low Property Prices
Florida is definitely one of the prime regions that suffered gravely from the recession and the Miami real estate market really did showcase how intensely devastated it had become after thousands had lost their jobs and were forced to recover from the nation-wide economic fall. As a result, property prices have been forced down to record lows which are all in an attempt to enable the clearing out of the existing inventory supply for single-family homes and condominiums across the region.
According to real estate figures, sale prices for Miami real estate properties have now dropped by as much as 50.8 percent over the last five years.
Low Interest Rates
It has been known that the Federal Reserve has been making an effort to keep interest rates low in order to attract more foreign property buyers who wish to invest within a nation that is succeeding as far as its path to recovery is concerned. Now that property buyers are given lower interest rates, they are more likely to consider their real estate options within the region and that has definitely been an influencing factor in today’s growing number of purchases which are being made by foreign property buyers in the country, especially within tourist destinations within Miami such as South of Fifth, Bal Harbour, Sunny Isles Beach, and South Beach.
Of course, individuals from outside of the United States are always being encouraged to check with Miami real estate agents that are experience in foreign investment deals since there are several legal aspects that need to be taken into consideration.
Great Vacation Homes
Now, the reason that can never be forgotten simply because it has always been one of the main reasons why the Miami real estate market has been one of the country’s most rewarding markets is the fabulous selection of great vacation homes that are currently being offered within prime communities across the region.
If there is one place that a foreign individual can feel right at home in, that one place would definitely be within Miami since it is one of the most culturally diverse places within the United States today. With such outstanding options that are guaranteed to appeal to foreign property buyers from all over there world, it is clear to see why the amount of activity that is being seen has been growing over the last couple of months, especially since the newest options that can be found on the market continue to push the boundaries of luxury living within an authentic tropical paradise destination.
Whether today’s foreign property buyers are looking for penthouse properties within the city of Miami Beach, or if they are interested in finding the finest luxury homes that located within exclusive oceanfront communities such as Golden Beach, today’s Miami real estate market is sure to provide the highest degree of quality and value to people from all around the world.
If you would like to find out more information regarding the different options that are currently available to you on the Miami real estate market, you should get in touch with a professional agent for more details.