Miami leads property market recovery in Florida

[Nicholas Wallwork]

Property sales in Miami, Florida, ended 2010 on a high with real estate agents more confident with the outlook for 2011 as the latest figures show increasing demand pushing up sales. The sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) rose 18% in December, compared to December 2009 and were [...]

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[LynPet]

Property sales in Miami, Florida, ended 2010 on a high with real estate agents more confident with the outlook for 2011 as the latest figures show increasing demand pushing up sales. The sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) rose 18% in December, compared to December 2009 and were [...]

Yes, the stats point to increased buying activity in the area, but this is no doubt fuelled by the continued downward trend on prices, making the area a very good bet for investment. It would also be interesting to know what percentage of sales were for investment, and how many were foreign buyers, as I suspect there is a growing number of overseas investors now looking very hard at the market there.

 

[FloridaForeignInvestors]

Remember Real Estate is a long term investment. It will never go to completely to zero. From the research that we have been doing. Most of the houses are indeed investment houses.

I think quite a bit of the market has been avoiding the area do to the fall in prices. This is the reason that it makes great sense for investing. It is very much a contrarin way of thinking.