4 Reasons Why Foreign Investors Are Keen to Invest in Miami Real Estate
If current trends are to be analyzed, you will see a substantial rise in foreign investment in the Miami real estate boom. Market experts believe that high-end buyers from foreign countries are helping Miami real estate come out from its dark days. These are the reasons for these foreign investors to invest in the real estate market of Miami.
1. Low Prices
The city of Miami is still recovering from its rough patch after the country wide economic down-slide. This has caused the prices of properties to be at their all time low. The developers and investors of Miami Beach condos are desperately trying to remove the large number of apartments from their hands by offering low prices. This has seen a large wave of foreign nationals buying these properties. These high-end condos and apartments may not be exactly cheap for the US citizens, but these foreigners find these prices cheaper than the price of property back home. Thus, they are rushing to buy their own properties in the city.
2. Vacation Homes In Beautiful Locations
Miami is a beautiful place with the sun, beach and sand. It is an ideal place to set up vacation villas and homes. This is one reason for rich people from other foreign countries to come and invest in beautiful Miami Beach condos, facing the clear blue ocean. These investors are rich and price is not a factor for them. What they want is a villa or condo that meets their basic necessities and demands and with developers eyeing rich buyers there are plenty of expensively done high-end condos that these people can invest in.
3. Better Livelihood In The States
United States has often been the country where people want to migrate to for a chance at a better lifestyle. These foreign nationals upon arriving in the country invest in properties. Majority of the sale in Miami is in the residential market where these investors are spending all their money. The USA has a trustworthy legal system which places a lot of importance on property rights and these people feel that it is the safest place to invest their money in.
4. Low Interest Rates
With the Federal Reserve keeping the interest rates low to attract foreign investors, investors and developers from Japan, China, Germany and Russia are coming in. These investors feel that United States that is recovering economically is a safe market for their investment. Moreover, investing in projects in Miami where the real estate market is going through a boom, they will be able to gain more profit than in investing in their own countries.
Miami is one of the most popular cities in the USA and getting an opportunity to buy property in this city is not something that most foreign investors would like to give up. Property prices cheaper than their home country and the benefit of low interest rates are responsible for large scale foreign investment.
By Brenda Lyttle