Is investing in Miami luxury real estate like Russian roulette, or is it a safe move? Nobody can tell for sure, that’s a fact. But the majority of experts agree, Miami’s luxury real estate development is on the rise, and looking forward to a steady future.
A new economic perspective
Nowadays, America focuses more on economic growth and less on international policies. The president said he aims to “soften up” economic relations with other countries and continents (China Russia and Europe). This combination can easily lead to more foreign investments which can boost Miami’s real estate development as well, not to mention, it will provide more work for the luxury real estate agencies.
Some experts thought that the outcome of the presidential election will make South American countries pull out from the market, but as it seems, South Florida is still their “hot spot”, when it comes to real estate. Miami is currently in the world’s top ten luxury property markets due to its long list of attributes, and experts claim the city to be a gold mine from this perspective!
So, investing in luxury estates in Miami might not be such a bad idea, since the city will attract more foreign agencies and developers, and the market will pick up steam by next year. Experts on the topic state that the upcoming seasons will be steady and in the first step, luxury condos will play the main role in the field, but other projects will emerge later on.
Will the market supersaturate?
What the future holds, nobody can tell for sure. Some might say, that over-development is inevitable in these situations. For now, luxury condos sell well, but more and more developers are starting to “tone down” and offer less luxurious but still pricey properties. The plenitude of high-end condos will probably lead to a drop in prices, but still, experts say the future can only bring good things.