Is Miami?s Property Market Segment an Investment Opportunity Worth Exploring?

Posted by ownrealty on August 2nd, 2018

The Miami property market shows great potential in 2018. According to OWN Realty’s End-year report, the real estate industry saw financially viable changes for investors. Luxury property prices fell from original prices of between $ 1 Million and $ 5 Million. All indications point to an expanding economy in 2018 with a moderate growth target of between 2.2% and 2.5%. Such growth is an indication of expanding investment opportunities, especially in Miami’s Real Estate Market.

Miami real estate is ranked fourth in the country’s most valuable housing markets. Properties such as the commercial buildings in downtown Miami and waterfront houses add to the growing list of Miami’s investment opportunities. Over the past year, the average value of waterfront homes has gone up by 1.2%. Forecasts point to an increase in property value by a 1.5% margin over the next few years. For property buyers, this translates into an average value of Million for Waterfront homes for sale in Miami. Further, it is estimated that an average of 163.7 homes will be foreclosed over the next few years on some of the local islands. The effect is felt in reduced property prices with home buying options ranging from .2 Million to Million as the homes approach the waterfront.  However, with favorable economic growth, the demand may push prices up further. Taking an early advantage of the prices will indeed work in your favor.

On the commercial property front, investors have an opportunity to get a slice of the Miami dream. The commercial segment offers buildings for sale or for lease that can be used as office space, industrial, retail and for mixed use. Miami commercial buildings for sale continue to attract more investors and with good reason. Miami’s buildings are known to stand out thanks to their creative and luxurious architectural designs. This makes it a must have as an investorfor whatever business prospects you have. In most cases, commercial buildings for sale in Miami such as hotels allow investors, to tap into the growing tourism market, which is Miami’s greatest asset. On average, investing in the commercial slice of Miami, will set you back .65 per square feet for office space and an estimated $ 7.54 per square feet for industrial space. As with the domestic market as a whole, Miami’s commercial value is set to go up.

From waterfront homes to commercial buildings, Miami’s real estate segment does make a good case for investment opportunities for years to come.