The South Florida real estate market is going through an interesting time right now as it navigates through unvisited territory with prices at or above an all time high.
Currently, industry experts are saying that with the markets moving as fast as they are in this area, it makes sense that people are questioning if we are going to see a land price bubble.
What makes the demand in Miami different from other areas that offer great weather and beautiful beaches is the infrastructure, trade, tourism, increased shipping capacity and evolving fields like health care, financial services, legal and pure technology fueled by the Internet.
Interestingly, investors and buyers in Miami are ones who are prepared to withstand any bumps along the way in the market and are in it for the long haul. Though, it is expected that there will be adjustments along the way for instance, if there is too much demand in the market, there will be price timing adjustments until the demand levels up.
The investors that are active in this market seem to be accepting a lower rate of return, which means that they are in it for the long term and are willing to wait on investment adjustments.
Also, the population is growing across the state but land prices in the more favorable parts of Miami-Dade are rising at a faster rate than other areas. Before this activity, there was quite a swing in land prices which has recuperated over these past few years.
This is an interesting time in the market that is expected to have positive effects. To learn about Featured Miami Beach Real Estate and check out listings for Waterfront Homes for Sale in Miami, you can contact us at (305) 502-3985 or [email protected].
