From business to leisure, Miami luxury apartments is an attractive and profitable option for foreign investors.
Market activity might just be Miami’s bread and butter for investments. Whether business traffic, or residential traffic, Miami is a constantly evolving, and ever-growing, slice of reality. On the luxury residential side, Miami’s tropical weather is a mainstay. From part-time renting from “Snowbirds”, to long-term renting from those that can’t get enough of the year-round, fair weather, it’s a given that Miami is always teeming with opportunities. This is directly reflected by South Beach, where the average price of the apartments sales grew by 19.6% ($355,000). This isn’t an isolated incident: While higher housing prices have a tendency to quell housing growth, in Miami, the housing market grew by 13.2% (12,664) even with rising prices. Simply put, Miami’s region specific attractions, at times, defy market expectations; all in investor’s favor.
As for luxury business: Some of the top fortune 500 companies reside in Miami: including Royal Caribbean, B/E Aerospace, Ryder System; and of course, University of Miami. While residential traffic is important, business traffic attracts more professional tenants, and with them, professional housing contracts. So for those business investors interested in trying the waters with business to business efforts, Miami offers a slew of investment options. Of course, attractive investment options mean nothing if the path to said investments is either tedious or downright unfavorable. Miami is simply generous to foreign investors. For European investors, the exchange rate from Euros to Dollars is one of the most favorable in the country. Astute investors may consider the events of the 2008 recession, and give pause. However, the circumstances that may foreshadow reality investment options in other parts of the U.S, don’t seem to affect Miami in any discernible way. Given the stability of such an active market: financing options are easily available. In a rare event where investors can have their cake and eat it too: The average prices increased by 16.1% to $244,000, the highest point since 2008.
Simply put, if there was ever a “blue chip” investment option, in reality, Miami would be among the most recommended.