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FLORIDA: THE SUNSHINE STATE
As the proud owner of an endless summer, there is no wonder why South Florida real estate is one of the hottest and most desirable markets within the USA. Not only does it serve as an abundant, beautiful and opulent location for homeowners, it is also one of the most in-demand locations for both local and foreign investors. And this is it–Prospera Realty is excited to watch as South Florida real estate booms on an international scale, with foreign investors keen to snap up a piece of one of the most luxurious and rapidly developing areas within the country. In fact,for the period of April 2013 through March 2014, the total of U.S. sales volume to international clients has been estimated at approximately $92.2 billion. That is an incredible 35 percent increasefrom the previous year.
The movement is here, and it is here to stay.
Walk down any one of Miami or Miami Beach’s top social spots such as Lincoln Rd or Brickell District and one can hear the colorful bounce of different accents being spoken- each one bringing the street to life with such a positive, international vibe. In this way, South Florida truly welcomes its international guest with open arms, creating a hospitable, comfortable and all the more appealing destination for both holiday-goers as well as prospective homeowners.
A ‘SAFE HAVEN’ FOR FOREIGN CURRENCY
The security of investing in U.S real estate has become one of the most common reasons as to why foreign investors choose to take part in the American property market. According to the NAR Global Research Report,37 percent of international buyers purchased aproperty due to the U.S. being a desirable location, whereas 56 percent made mention of the security andprofitability of investing in the U.S. This influx of foreign investment- mostly from Canada, South America and Europe – has been the driving force behind the rapid growthof the South Florida real estate.Since 2010, Florida has actually led in international transaction sales in comparison to any other state within the USA.
The market is hot, fresh, and developing faster than we have ever seen before.
With no extra state or city income taxes, South Florida is again highly desirable; not only for big foreign investors but also for anyone looking to relocate to American shores or to purchase their dream holiday property.
WALL STREET HAS ITS EYE ON THE PRIZE:
With Miami often considered to be the ‘capital of Latin America,’ large investment projects are streaming in from New York, with Wall Street gaining impressive momentum in Miami investments. The size of the city in number of buildings is set to grow exponentially over the next 5 years, placing it in direct competition with some of the most developed areas of New York City.
There is no doubt that South Florida real estate is the buzz phrase across the country. With sights set on the area becoming home to some of the most impressive, expansive and exciting projects since the downturn in 2008, here at Prospera Real Estate we truly believe the sky is the limit. Watch out New York, Florida is on the rise!
