Investing in real estate in Miami, still great opportunities!

Miami, a sun destination? Yes, but not exclusively ... Since the 1980s, Miami is undoubtedly one of the preferred destinations for American and foreign tourists because of its mild climate and attractive beaches ... Tourists are however more only to be deceived: Foreign investors also flock now to take advantage of economic opportunities offered by Miami ... especially in real estate.

A MAJOR DEVELOPMENT PROJECT: MIAMI 2020
Investing in real estate in Miami, still great opportunities!
The dynamic Miami real estate is now supported since counts in total, more than 170 sites in the project development of the city, called "Miami 2020". Among these sites include not only projects of residential and tourist developments such as the Porsche Design Tower (luxury apartments in Sunny Isle in North Miami Beach), but also many commercial developments, like the Brickell CityCenter built Bouygues and estimated at $ 663 million or the redevelopment of the Miami Beach Convention Center, for $ 1.2 billion. Parallel port activity is booming, since Miami is now the first cruise port in the world in 2013, a number of passengers estimated at nearly 4 million. The commercial port of Miami is also very strong, and increasingly turned to South America.

The economic fabric of Miami thus denser, really, and growth is back in the city, in particular, and Florida in general, where the unemployment rate has declined from 9.1% to 7.6 % between November 2012 and November 2013. Miami is now a city that offers strong economic and not just tourist arguments. The establishment of new companies or new sports franchises, such as the Major League Soccer, are, moreover, great news for investors ... In fact, Miami now ranks among the largest global capitals and continues offer good prospects for capital gains for investors.

PRICES RISING ...
The Miami real estate market consists of several micro markets, where prices remain affordable for a French investor, whether for rental investment or second home. The rebound from the peak in 2006 is, however, undoubtedly began as prices have increased by 15.8% between October 2012 and October 2013 ...
Evolution of prices in Miami - Source: S & P Case Shiller - Miami - January 2000 - October 2013
Evolution of prices in Miami - Source: S & P Case Shiller - Miami - January 2000 - October 2013

OPPORTUNITIES BUT STILL ...
Nevertheless, it is still possible to find attractive products, including apartments, priced between € 1,700 and € 3,500 per m2. A Miami Beach but also in the districts of North Miami Beach, Aventura, or more south of the city, Coconot Grove.

For investors wishing to higher end products, prices are naturally higher, but there also, they are interesting in light of French and Paris prices. 120m2 triplex in the heart of Miami Beach is for example on sale today for € 496,000, or 4130 euros / m2.

Miami recall that, as in all large cities, the location is essential, both for yearly rentals for seasonal rentals. New programs, often very well located, are, in this respect, solid opportunities.