Having a survey at the market trends is important when making valuable purchases. You have to look at what the market has to offer and see if it meets your needs. If the conditions existing match your requirements, then you have a perfect deal. In South Florida, the Miami luxury real estate market has been performing well in the recent years. In 2016, however, we have seen some slowdown in luxury sector. 2017 is hence the perfect year to buy a condo in Miami Beach within South Florida.
Abundance of options
Where monopolies exist, prices are super high and there is nothing much that can be done. For years, Miami luxury homes and condos were not enough to suit the demand. With investors flowing into the market to make money in the industry, we have witnessed new luxury towers rise up. Many are the towers that are supposed to be complete in the near years of 2017-2018. You no longer have to say that condos already have their owners. You can pick one from the extended inventory and reserve the unit for you. Even Porsche Design Tower is complete and with superb features including auto lifts.
Elections are over
Whenever the politicians are out there, they utter words that bring confusion to the people. Some of us don’t like politics but we have to acknowledge that politics has its effects in every market. Politicians are the people who form governments and what they stand for has the potential of crushing an industry or support it. Now that elections are settled, the confidence to the buyers is now back. People who had held their plans till the elections are over have all the time to implement their plans. I suppose you should too. Buy now.
Buyers will be incentivized
Purchasing power is everything in very market. If more people can afford luxury homes around Miami and in areas such as Golden Beach Florida homes, the better. Well, that will be the case as buyers are being incentivized. Higher interest rates will be recorded due to that. More people who have been dreaming of living in a paradise on top pf jade signature will have the opportunity to do that. If you have been watching on the sidelines waiting for the perfect time, then the best timing should be within 2017.
Latin America is in a mess
The Latin Americans have been supportive to the luxury real estate South Florida and new developments in Miami. Now, their economies are worse than ever and the decline of foreign buyers from those regions will continue to drop in 2017. Sellers will have to drop their prices.
For more news on the luxury real estate in Miami read our Activerain blog.