Miami Luxury Condos Continue To Lead The Real Estate Market In Terms Of Residential Property Sales
The Miami real estate market has truly made a comeback this year thanks to the help of foreign buyers and investors. According to the Miami Association of Realtors, the sales of August 2011 have certainly improved compared to the previous years and, in Miami-Dade County alone, residential property sales have gone up 18 percent compared to figures from this time last year.
Because of Miami’s recent successful streak, a lot of real estate experts believe that Miami has lived up to the intentions of market improvements by the day. Due to Miami’s overgrowing popularity among individuals from Latin America well as some European countries, Miami is now one of the leaders for home and condo property sales in the United States today.
According to Jack H. Levine, chairman of the board of the Miami Association of Realtors, “The Miami real estate market continues to outperform the rest of the nation.”
The greater majority of residential property purchases made over the past few months and years have been purchased by Brazilians which has clearly been because of the fact that the cost of living in the United States is much lower compared to Brazil.
If the Miami real estate market continues to expand its market and advertising to other parts of the globe, it should only be a matter of before the real estate property inventory of the market begins to restock with new developmental home and condo properties.
Whether we are talking about single-family home properties or high-rise residential condo units, both of these residential properties are making a lot of noise in the nationwide real estate market. Most of the foreign investors and buyers today have Miami as their top pick when looking for a luxurious property in the United States.
The Miami Association of Realtors believe that it will only take less than 2 years before all the available properties that have been developed during the real estate boom will be taken by both foreign and local buyers and investors. Expect new developments to take place sometime soon.
The next wave of developments that will happen in the magic city would surely include several Miami luxury condos because it is one of the hottest residential properties today. As of August 2011, there are just a few hundred available Miami luxury condos on the market today and these properties happen to have the largest share in the residential property chart.
If you are planning to purchase a residential property in Miami, now is the great time to do so before their inventory runs out of great properties and prices begin to rise dramatically. Get in touch with an experienced real estate agent to find out more about your Miami luxury condo options today.
Miami Luxury Condos