Miami’s Real Estate Market vs. the Rest of America

by Isaac Benmergui, Esq on March 2, 2012

Nowhere else in the country could you see what was once considered a 10-year supply of available homes and condos, gobbled up in a little more than two years. Due to a constant influx of buyers, visitors and tourists, both international and domestic, Miami’s real estate market is expected to outperform other major cities for years to come, says noted real estate attorney Isaac Benmergui.

Miami: Baby Boomers’ Freedom Lifestyle

Miami doesn’t have what other cities have to take into consideration: a season. Whether someone is traveling from Russia, Australia or Chicago, the weather in Miami can be better. Tourism is year-round. Tourists visit, fall in love with the area and want to buy. And Miami is a bargain for condos at the moment with prices at a 2002 level, says Paola Garcia Carillo, a sales director at a Miami property. That’s good news for buyers, especially baby boomers who are slowly migrating to the condominium lifestyle after years of single-family homeownership. With no lawns to mow, gutters to clean out and snow to shovel, baby boomers are freed up and have more time and energy to devote to an active lifestyle.

Miami: Favorable Buying Policy for Foreign Investors

Miami is a huge draw for international buyers due to a favorable national policy known as EB5 which awards buyers a visa if they spend a certain amount of money on a real estate purchase.

If you’re thinking of purchasing property in the Miami area, let the law offices of Isaac Benmergui help you with your legal real estate needs. Florida real estate closings can be tricky, and you should have all closing documents reviewed by an experience real estate attorney; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

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