Miami Real Estate
There has been a recent increase in foreign investment here in Miami, however it is not coming from the neighboring countries many would suspect. As Louis Vuitton continues to expand its businesses here in Miami’s Design District brokers have begun to notice a correlating rise in the amount of French investors showing interest in Miami real estate. Whether they are business people looking for a US location to expand their brand or families in search of a second home, the French have been flocking to South Florida in increasing numbers over the past year. Janet Choynowski, founder of Real-Buzz.com, recently stated that France is the number one European country searching for real estate in Miami and neighboring areas. In fact, Florida was recently reported to have had the most international buyers investing in properties during 2014, which is a testimonial to the state’s rising prominence as a global destination for both business and leisure.
This trend is partly a result of the declining value of the euro, which is prompting many wealthy Europeans to invest their money in the US where the dollar is more secure. Miami is seen as an obvious choice for many of these international buyers because it provides for a beautiful beachfront vacation while still allowing them access to glamorous nightlife and global commerce. As Choynowski stated recently, “to the international buyer, the US is kind of one place. They view it in a wide ranging patter. Climate and environment is the hook. Although the euro is going down, interest in the US is increasing. And when it comes to South Florida there’s a strong interest in waterfront.” Events like Art Basel helped to put Miami on the map and once people got a taste of the culture they were eager to come back, which helped to develop the city into a worldwide destination for glamour and luxury.
International buyers are flocking to South Florida, eager to invest before the euro declines in value even more. As a result properties are in high demand and selling quickly, which in turn prompts even more construction of luxury condominiums, commercial spaces and residential homes. Clearly now is the time to invest in Miami real estate, so if you are interested in learning more about available listings or pre construction properties then feel free to contact a RE/MAX agent today!