Question to Investors…Why Miami?

Aria on the Bay Condos

According to Investors Choice Lending, both foreign and domestic investors come to Miami to buy investment properties because of the great return on their investment.  But why do these investors invest in condos specifically in Miami over other cities?  Because studies show that 65% of the population in Miami are renters.  The rental population in Miami has majorly increased by about 25% between 2006 and 2013, which is the second highest increase nationwide, according to the Next Miami.  Miamians and people wanting to live in the Magic City are willing to pay more than half of their income towards rent.  In fact, about 39% of Miami condo renters are paying half of their income or more in monthly rent, which is the second highest in the country, following only New York.

With condo renters willing to pay half of their salaries or more in rent, why would an investor not buy in Miami versus another part of the country.  Also, with all of the new construction in the Downtown Miami and Brickell area, you can get a great deal if you can get a pre-construction condo at the friends and family pricing phase or tier 1 pricing.

If you, or someone you know, are looking for a great investment and are interested in purchasing a condo in Miami, please call me, Michael Light, a Miami condo specialist.  I work with clients from all over the world and help clients in determining the best condo investment for their specific needs and wants.  It is crucial to have someone knowledgeable in the Miami condo investment market to assist you in your purchase.

You may reach me on my cell at (786) 566-1700, directly at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com.