Over the course of 2013, 20% of the sold single family homes in Miami were priced over a million dollars, and this trend of high-priced luxury homes continued through 2014 and into 2015. The demand for luxury homes is still very strong, and there are a couple of reasons for this. For example, since the economy recovered and since the taxes and interest are still favorable for buyers, getting into a new luxury home is a good idea.
More Families Moving to Miami
One of the things that many real estate agents are seeing is an influx of buyers from other countries, such as Brazil and Mexico. While homes in the area have always been popular for people from these nations, the political and financial insecurities in those and other nations are making many with money want to come to Miami – view Miami waterfront homes for sale here.
Many real estate specialists are also seeing a difference in the types of homebuyers who are coming to buy these properties in Miami. Namely, there are many more families with children who are buying homes and moving to South Florida. Many business professionals are taking the plunge and moving to Miami as well, and they are bringing their families with them.
Many from NYC are looking into buying luxury property in Miami as well. Even though the prices for homes in Miami are getting to be higher than they’ve ever been, that’s not any sort of deterrent for those buyers, since the prices are still lower than or on par with those in New York City.
There are not only great homes, but the schools throughout many parts of the area have great reputations. Coral Gables and Key Biscayne, for example, have high quality schools.
Miami Offers More
Miami is quickly becoming a truly global city. They are growing quickly in a number of different areas, including sports and entertainment. There is a thriving culture in the city that’s appealing to many people, and is certainly one of the big draws. Additionally, architects are seeing all of the fantastic opportunities they have to bring their skills to the city and to create some truly unique and opulent homes. These world-renowned architects are creating homes that people really want, and the prices for some of the homes are reaching $3,000 per square foot.
It is currently a good market for both buyers and sellers. There are plenty of people who want to buy in the city, and those who want to sell can certainly find some motivated buyers. The demand increases and the prices will surely increase along with that demand. It’s a good idea for buyers who find a property that they like to act quickly and purchase it before it is gone.
Many areas in South Florida are doing well right now, but one of the best is Sunny Isles. It has a number of condos and towers that have a wide range of luxury homes perfect for many types of buyers. It is a great place to invest and a perfect time to invest.