The real estate market in Miami has never been so hot like in the last months. We experienced a drop in prices in the last two years that hit in a different way the neighbourhoods of Miami.
When we talk about Miami it is very important to consider that each part of the city is different and even the drop in prices has been very different from zone to zone. This loss in value has been bigger for those people that bought in the “high market years” like 2005 and 2006 but the crisis has not hit who bought before 2004.
The actual prices are not lower than those of 2003 so Miami has been a very good investment for a lot of people around the world. In addition it is very important to remember that the real estate market is for his nature cyclic and in a lot of cases it is only necessary to wait to void possible losses. People that lost money in the last months are those that wanted to speculate without having the economic capability to do it.
The real estate market in the last months has been really hot because the European investors with their really strong euro helped the market going on. A lot of Italian, French, Spanish and English arrived in Florida to take advantage of this particular international conjuncture. In fact only in this moment we have a very low market with affordable prices, a very strong euro and a convenient interest rate.
Today with one euro we can buy almost 1.50 dollars. This is the first time that we have all these factors together; in fact until a few years ago the dollar was stronger than euro and last October the interest rate was 9%, but now a non American citizen can do a mortgage with 30% down and an interest rate of about 6%. It is possible to buy a property and pay the expenses with the rent and in the meanwhile wait for an appreciation of the real estate market and the dollar. According to the analysts at every presidential election the economy and the dollar have grown.
So is this the moment to buy? Absolutely yes because these particular advantages will not last forever and a lot of people think that these factors will terminate soon. Buying in Miami means to invest in a city that attracts capitals and tourists from everywhere and has the most important cruise port in the world. Miami has one of the biggest airport in America with twenty five millions transits each year and the climate and wonderful ocean contributes to have tourists in every season. Winter is high season for the Americans and summer is high season for the Europeans so Miami Caribbean beaches are always full.
Have a property in Miami is a dream. And to be a dream our suggestion is to choose capable and serious real estate professionals that can help you in the buying decision and take care and manage your investment during the years.
