The real estate problems of South Florida have found some relief in foreign investors these days. The 2012 and 2013 real estate market saw investors and private buyers coming back to this part of the state in droves. By September 2013, 93 percent of the unsold condos from before the crash are sold. Condominium prices rose by 33 percent from July 2012 to July 2013. Several new condominium projects are in construction or planning.
The trends from 2013 are continuing into 2014. Investors are finding the South Florida real estate market steadily growing. That is encouraging further investment in new projects, both residential and commercial. One of the biggest sustained trends in the South Florida market is the infusion of foreign investors. This trend started back in 2009 and is here to stay.
Foreign investors see the huge growth potential for South Florida. Commercial property is becoming less available in Downtown Miami as an example of the expanding business opportunities. Foreign investors are what is helping drive the recovery of the residential market. With low home prices, low lending rates and a cheap dollar, the investment potential is irresistible for investors from Europe and South America. Some properties are being leased out while others are being kept as second homes for the investors. The amount of investment has brought real estate prices up and stabilized the market.
Investments in the South Florida real estate market continue to be a solid decision. The demand for condominiums in South Florida continues to grow. Rent appreciation is still underway in desirable areas like Coral Gables and Miami Beach. The white hot real estate market in Miami-Dade is spreading into Broward and other South Florida communities. The rate of small business leasing is increasing which bodes well for the local economy. Things are looking up in South Florida and its real estate market!