Not only is South Beach a fun place to live, it’s a great place to earn tenant income! Interested?Ask me how.
Employment sector expected to increase 2.2% in 2013; 2,000 new apartments will be completed this year; vacancy rate down to 2.9%; and rents increasing yearly since 2010 – expected to go up 3% (to an average rent of $1,169/month).
According to CNNMoney, the bidding wars on housing has begun and I have to agree. When my friend Manny was looking for a property in Homestead, we spend months placing offers on multiple properties and many times would not even get a response back from the listing agents. My friend finally lucked out on a deal after searching for about a year. He snatched up this beauty in the $120’s, which isn’t even possible today. Prices are going up and that is an excellent sign that our economy is going to benefit from it!
According to the Miami International Council of the Miami Association of Realtors, 76% of Florida’s real estate sales were acquired by international buyers representing these 11 countries: Argentina, Brazil, Canada, China, Columbia, France, Germany, Italy, Peru, U.K., and Venezuela. Moreover, our property values showed positive signs of recovery in 2012:
Why is Miami so hot?
Miami is being dubbed as a “cosmopolitan” city, but I think it’s because of all the attractive people living here! Cheers to you, Miami!
Seven years ago I heard a real estate instructor say that Miami is the New York of the 21st Century.