Real estate development in Miami

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The first associations to Miami are fun, beach, and luxury. These three factors go very well with profitability, in case there is a chance for new investors to find appropriate deals that they can put their money into. Miami has been a great destination for tourists from all around the world and surveys from 2015 and 2016 indicate interesting influences of foreigners on the real estate business. Over 50% of the survey participants in 2015 declared that foreigners are taking over the biggest part of the Miami real estate business while that percentage reduced to 33 in 2016. This, however, in no way means that interest in the city is any lower.

Miami is a place where people come to enjoy and they don’t pay attention to the prices as much, which means a lot to the business owners. To own a property here is brilliant and can double the cost of investment in a very short time period.

Despite the climate issues and justified concerns of the citizens, Miami never loses its value. Real estate experts suggest that the following years will be very important for the business here and therefore – the real estate development in the city will not stop growing.

The prices of properties depend on various factors but mostly on their locations. Medium home price in Miami Beach ranges from $1.5 million to $3.2 million while in Little Havana around $200,000, which is more than in the majority of places across the USA.

 

Real estate in Miami has been growing for decades and it will surely not stop anytime soon because of the capability of the city to receive and accommodate people from all around the world in the best possible manner, after which they end up investing into it.  The effort that foreign investors put into purchasing properties here and managing them afterwards says enough about their values. We have yet to see what 2018 will bring to the real estate business and according to all professional predictions, Miami will be equal to the center of the world in the upcoming years!