Rental prices keep climbing up for Downtown Miami Condos

[john simpson]

Not too long ago (2009) the Downtown Miami condos market was tenants paradise, There were Thousands of condos to choose from and the median price was $1,60 per Sq.Ft. Fast forward to 2012 when you can hardly find any vacancies and $2.01 per Sq.Ft. Is the going rate.
How long will this trend last?. It could be a while If the number of plans to construct at least 3.000 new rental properties is a sign of things to come.
These units are targeted towards people who can not or choose not to buy for different reasons like: bad credit, the challenge to secure a mortgage or fear that the market has not yet bottomed.

 

[Simex]

John,

I like and agree with your observation on the current rental trend that is currently occurring within the US property market. I have been following the US property market now for a while as I believe we are living in interesting times, whilst I feel compassion for the many people who have lost or are losing their homes as that is an awful reality to be faced with. I also believe that these are unprecedented times which present opportunities that are rarely seen.
As an investor I believe if you are smart , cash rich and invest in the right location in the US today, there is an opportunity to achieve substantial returns from both rental yields and capital growth which is highlighted by the dislocation in the market.