Miami Condos and Miami Real Estate has appreciated over %25 annually for the last several years. Investors and Buyers looking for their dream condo or home have been snapping condos faster than developers can build them. Miami Real Estate has doubled in prices in the last few years. That was great news to investors that bought in this dynamic market. However, It’s not feasible to expect this dramatic appreciation to continue indefinite.
So, what an investor should expect from the Miami Real Estate market now?
Well, the market was growing at drastic pace that real estate buyers camping for days to get a condo or a home in Preconstruction and turn around and flip it for profit. Now, the condo market is back to normal pace where you can find good values. The factors that reflect the real estate markets such as interest rates, inflation, unemployment rates and others might not be applicable to Miami Real Estate.
How the Miami Real Estate different compared to other US real estate markets?
Miami Real Estate has been always attractive to international buyers. Now, as the US dollar weakens and I believe it will continue to weaken, international buyers are looking into Miami and South Florida real estate market with their increasingly buying power.
The fact that in some areas there might be enough supply to absorb demand for the near future. However, you can find some attractive opportunities right now where you can get some good values and see appreciation quickly.
Is Real Estate still an attractive investment?
The alternatives is to have your savings in cash. However, because of inflation, the cash value will be worth much less next year and the year after and then you pay taxes on the CD rates. However, real estate still has outstanding tax benefits that you enjoy for now till US tax policies change.
Miami Real Estate is a promising real estate market today. Do your homework upfront. Find unique opportunities and have the right team on your side. Remember, Real Estate is a long term investment.