Investing in a new pre-construction project is a smarter and cheaper option compared to buying a resale in Miami. The purchase gives you the freedom to choose the ideal location, select the perfect floor plan, choose the right square footage, and make the right interior designs choices. Since the residential real estate market in Miami is highly profitable, you can quickly get a solid return on your Investment.
Miami Has Grown To Be A Perfect Investment Location
The top three favorite locations for renters include Downtown, Coral Gables, and Brickell. The Integra Realty Resources residential market study shows that between 2014 and 2018, around 4,800 new rental apartments were successfully completed in the Greater Downtown Miami area. Moreover, out-of-town condo owners were reported to have listed hundreds units for rent.
According to a survey conducted by Zillow about Miami Beach home values and prices, Miami Beach was ranked the most valued neighborhood with an average price of $520 per sqft, Brickell came in second at a median price of $497 per sqft, and Key Biscayne clocked third at an average price per sqft of $753. Most respondents from the survey attributed the high property prices of these locations, particularly Brickell to the fact that they’re mostly designed to cater to offshore buyers.
The most undervalued neighborhood, on the other hand, was deemed to be Homestead with an average price of $140 per sqft. Miami Shores clocked second at $338, while the third position went to three locations, namely Kendall at $226, North Miami Beach at $237, and Little Havana at $254.
Why Invest In Miami Pre-Construction
- The potential for growth in the South Florida real estate market is very feasible
- Given its highly active and stable market, getting financing is easier
- It is a commercial powerhouse that is home to successful companies in the financial sector
- Diverse real estate investment opportunities including commercial buildings, residential buildings, condos, and detached houses
- It has an ideal climate for offshore home buyers from colder climates
- It is an aviation hub and port for Central and South America
Are You Looking For Viable Pre-construction Investments In Miami?
Finding the perfect neighborhood for your pre-construction purchase in Miami comes down to budget and lifestyle. Each home and project has its unique benefits. We, at FloridaDoc, give you a comprehensive review of various pre-construction projects so you can make an informed decision. We invite you to contact us for more information or browse through our website to see some of the luxury pre-construction properties on the market.