Great beaches, fantastic weather, and food to die for are just tastes of what Miami is known for. Even more important are the real estate investment opportunities, especially for foreigners.
Whether you are looking for a vacation home, a forever home, or an investment property, luxury apartments in Miami offer the best of everything.
Here are a few reasons why:
The Location and The Climate
Not everyone likes the cold. If you prefer warmer climates, Miami is an attractive alternative. The city has hot and humid summers and very short winters which are usually mild. Therefore, if you desire to live by the beach to enjoy the sun, (day in and day out) it’ s time to consider what Miami has to offer.
There Is a High Demand for First Homes
Statistics state that one in every five residents in Miami is an immigrant. The high immigration rate translates to a high demand for first homes. As an investor, it’s easy to leverage this demand and experience the massive returns on an initial investment.
Favorable Financing Options for Foreigners
When it comes to investing, receiving financing is the biggest headache. In Miami, the real estate market is stable. The average duration a property stays on the market is only 58 days; this is the lowest since 2008. It is a clear indication of how active the real estate market is. Subsequently, the more active and stable the market, the better the financing opportunities. Current conditions allow foreigners financing that covers up to 60% of the purchase price.
Are you convinced that Miami is worth considering for real estate investment purposes? If you’re not, it is worth mentioning that the above three reasons do not even scratch the surface. The benefits of investing in real estate in Miami are much more, ranging from the commercial appeal to the trends that indicate continued growth in the market.