Miami Condo Market Hot Spot for Foreigners despite the Bust

Monday, April 14 2008 @ 12:23 PM Central Daylight Time BusinessIt is almost impressive that foreigners are targeting the Miami condo market, despite the nationwide bust in the country’s real estate. It is nice to have people appreciate the market even though the market is pointing elsewhere. Now that Canadians, Puerto Ricans, Eastern Europeans and even Asians, now let us dissect this in a buyer’s prospective. If you are a buyer and despite the housing decline and crisis that is plaguing the nation, would you purchase a condo on one of the worst markets according to experts, this year? Well the logical take on this is you should. It is almost a no-brainer. As reports says the number of Condo in Miami alone have grown significantly and the investors and developers have shown frustrations on the lack of interest on their market.

It is almost impressive that foreigners are targeting the Miami condo market, despite the nationwide bust in the country’s real estate. It is nice to have people appreciate the market even though the market is pointing elsewhere. Now that Canadians, Puerto Ricans, Eastern Europeans and even Asians, now let us dissect this in a buyer’s prospective. If you are a buyer and despite the housing decline and crisis that is plaguing the nation, would you purchase a condo on one of the worst markets according to experts, this year? Well the logical take on this is you should. It is almost a no-brainer. As reports says the number of Condo in Miami alone have grown significantly and the investors and developers have shown frustrations on the lack of interest on their market.

So the end point is, you may able to find good deals despite of the crisis, investors are keen on having some units sold so if you are in luck you might get one in a very cheap price tag. It is known that Miami having 15% in decline in its overall market. Although numbers shown big difference it doesn’t however affect the livelihood and good life Miami brings, the numbers are in a business stand point so if you are a buyer you don’t need to care about it and just focus on the property you want to purchase. Number one you have to get your focus on what’s best for you and your family, you need to keep in mind that even if the numbers suggest otherwise, if you are not an investor or if you are not looking to sell, you don’t have to worry about the numbers.

Those numbers are for those who invest and sell properties, if you are just going to buy and live into those properties you need not to worry. Like I said those numbers are just figures and forecast on how the business side of real estate is dictated. For foreigners they don’t care that much on it unless they are going to invest on the market, foreigners just want to find a relaxing getaway and I think that Miami is a perfect place for it, with the nature of having the best beaches in the state, the great new condos and the environment that really suits you, I can’t think of a reason why not live in Miami. Although it is a tough time in the real estate market right now, the common knowledge is Miami is still Miami and as long as its beautiful scenery is present I don’t think Miami will not attract people to live in the city.

Jron Magcale
http://regatta2.com/

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: