Whether it’s the appeal of the world-renowned beaches, or the relative stability of the American real estate market, Miami has benefitted from a significant surge in global investment interest over the past few years.
“Every time the Argentine or Brazilian economy takes a plunge, Miami real estate agents see a wave of people flying north looking for a safer place to invest their money. Whenever global oil prices fall, Russians and Venezuelans start showing up. Vacationers from Europe buy properties to serve as winter retreats” reports USA Today.
As a relatively new trend, there has also been a lot of activity coming from Asian buyers, especially the Chinese.
Additionally, there has been a strong push from city leaders and developers to market the area as a global and cosmopolitan environment, attracting a wide variety of wealthy foreigners.
Despite the fact that demand has driven prices upwards, Miami remains relatively inexpensive compared to other places in the world such as Paris, Germany, Russia, and even New York, making it a very attractive investment opportunity and definitely a market to keep a close watch on.
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