Eurobrix.com: The European Real Estate Portal

What makes Miami’s market so special?

by Yuri Brixenmortar 23. May 2013 12:13

Mention US real estate to an international buyer and they will almost always think of Florida. Mention Florida property to a buyer and they will almost always think of Miami.

Indeed, in the 12 months to July 2012, Miami accounted for 10.67 per cent of all US-related searches on TheMoveChannel.com: 1 in 10 people buying property in USA were looking specifically for Miami. It’s just a small indicator of the level of demand for real estate in The City.

But what exactly makes Miami’s market so special?

Part of the city’s appeal lies in its lifestyle. A sun-soaked metropolis located on the Atlantic coast, Miami is an important figure in finance, media and culture - but its beaches alone bring in millions of visitors every year. Indeed, the city’s large port has long been one of the busiest on the planet, earning Miami the nickname the “Cruise Capital of the World”.

Museums and parks also attract people to the area, meaning that residents are never bored during their stays in their holiday homes - while buy to let investors can guarantee rental income from the regular wave of visitors across the city.

Investment and lifestyle appeal is a hard thing to juggle, but Miami property offers both to domestic and international buyers. Its low prices help too, offering affordable bargains to profit-hungry investors and low-priced second home hunters. The demand has pushed values up though, with some condos in the area breaking price records in recent years.

Indeed, high-end real estate is no stranger to Miami, with luxury condos and villas located particularly around the exclusive Miami Beach neighbourhood.

Balancing low prices and prestigious appeal as well as investment and lifestyle potential, Miami’s housing market genuinely has something for everyone - and that makes it very special indeed.

For more information on investing in the Sunshine State, visit http://www.floridaproperty.org.uk

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