Beautiful Hibiscus Island has been a very popular location for luxury Miami waterfront homes for years, and that popularity is now crossing the pond. European buyers have been purchasing high-end multimillion dollar properties that are right on the water recently. Even though the value of the Euro is not as high as it once was, this has not really stopped the popularity of the Miami area. Buyers from Europe are still very interested in Miami homes, and they want nothing less than the best. That’s just what they are finding on Hibiscus Island.
Why Hibiscus Island?
Well, there is a lot to love about the island. Many of the lots are very large. One home that sold recently was a 5,643-square foot house that sits on a lot that’s 13,781 square feet. Another property offers a 4,251-square foot home on 15,750 square feet of land on the waterfront. Many of these homes are large and have massive properties. Those who are looking for larger properties that can offer a greater element of privacy tend to like this option.
They also love the fact that they have an ideal location. Those who live on the island are only a short distance from both Miami Beach and downtown Miami. It really is a perfect location. Since it’s on an island, it tends to be very safe. Getting around the area can be fast and simple, and the residents love the convenience. Whether they want to find entertainment in the downtown area or spend some time relaxing on the beach, it’s all very easy.
One of the interesting things about the properties on Hibiscus Island is the fact that the Europeans who are buying are not using them as investment properties that they will rent out. While it’s possible to charge a substantial amount for rentals on the island – some can fetch more than $40,000 a month – the buyers are looking for places that they can actually call home. They buy the property and become the end user. Some may want to make changes to the property and to develop it further with the goal of creating a true dream property.
More Buyers Are Looking at the Island
The Island has seen several large sales over the past couple of months, and as soon as property goes up for sale, you can be sure that it will have plenty of eyes on it. While the Europeans are some of the most prominent buyers, there are actually buyers from plenty of other locations that are falling in love with Hibiscus Island. The homes tend to be on the higher end of the pricing scale, but given their size, the land, and the amount of things that the buyers can do to upgrade the properties, which might not be possible with condominiums, makes the price well worth it. This is certainly one of the areas that you will want to watch if you are interested in the movement of real estate in the Miami area.