Miami: Real Estate and Market Trends

The interest of foreigners for Luxury Miami Real Estate has even surpassed that of Los Angeles. This great transformation is an outcome of humongous influx of foreign cash. Many of the foreign investors who purchase real estate do so as investment and not as their own residential homes. It is estimated that about 90% of all constructions in downtown are due to the progressively increasing foreign investment. With that said; many of the foreign investors are said to be interested in "top-notch" real estates and are paying cash. This can be proved by the recent attraction towards luxury buildings in Miami.

It is now evident that many buyers have started viewing Luxury Miami Real Estate as a hot bed and are cognizing that the prices of the real estates in this region are not as high as in other regions such as in New York and other larger cities. Miami has its own kind of charm that is increasingly captivating foreign investors. The increasing outlook is highly lucrative because of its promising job sector. Unlike the Baltimore market, the Miami job sector will aid in elevating the housing market while at the same time boosting employment rate to 6.1%( 0.2 higher than the national average) .From last year Miami has witnessed improvement of the employment rate by 1 percent. Among the metro areas, only Orlando witnessed larger growth with an increase of about 4% while Miami and Fort Lauderdale metro areas ranked 2nd and 3rd respectively.

Many investors view the Miami Real Estate marketas a safe haven to invest their monies considering that many of them want to escape harsh economic uncertainties in their home countries. For whatever reason, Miami ranks first for any person who wants to invest in real estates. It is raked in the top six list of world's wealthiest individual destination.

Miami is also potent for investors who want to rake in enormous profits. Foreclosures in Miami are swift, and thus buyers should view this as a viable source of reasonable deals for investors at all levels.

Foreclosures in Miami have been on the rise in the recent months, especially the area of bank-owned repossessions. Though they only account for a quarter of today's foreclosures, they have elevated with almost 50%in the course of one month. On the other hand about 40.9 percent which is the majority of distressed properties, originate from auction foreclosures. Regardless of price appreciation, Miami has remained to be one of the hottest markets in the country.