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The Florida real estate market is so hot that residents are now competing with investors. The inventory has reached such a low level that the same house is being disputed by up to 6 people. Residents who need to move or families looking for their first home face an unprecedented situation. Investors, on the other hand, see a unique opportunity in Florida’s time today. The trend is for strong appreciation for the coming months and years.
“We are seeing a moment of overheating in the market. Investors often want to buy in quantity”, says Heloisa Arazi, broker at AMG Realty in Miami. “Often they ask for 3 or 4 units in the same condominium or neighborhood,” she adds. E
In a market that is already hot and with little inventory, the dispute can be fierce. Investors are looking for “flip” operations (buying and selling in the short term) and also real estate to obtain rental income. Not only is the residential home segment being sought after, but also townhomes, condos and vacation homes in central Florida.
Miami “Condos” segment in the crosshairs of investors
“This phenomenon is more evident in the segment of single-family homes (single-family homes), but it seems that it is also migrating to the sector of condos (apartments in buildings)”, warns Heloisa.
In fact, the most critical segment when it comes to inventory today is residential homes. During the pandemic, people sought to change homes, looking for larger environments and outdoor areas. Apartments in urban centers were exchanged for large houses in suburban regions. With that, the demand for houses increased and for apartments decreased.
With the lack of homes on the market and falling prices in the condominium segment, apartments are once again attractive.
“There was a misconception that homes would be safer and more comfortable during lockdown periods,” explains Amir Arazi, investment adviser and partner at Pinetree Advisors. “This concept has changed, as Miami offers condominium apartments that look like real clubs and with all the security protocols,” he explains.
With the delay in the delivery of new units and a longer construction period, investors are keeping an eye on the resale market (already ready – used properties). “The condo prices in Miami haven’t recovered yet and offer great opportunities. It won’t last long,” warns Heloisa Arazi. p>
Low interest attract investors
With interest rates remarkably low, investors seek to buy additional stocks. In a world context of rising inflation and fixed interest rates in the first few years of the loan, buying a Florida property through mortgage can also be a great protection against inflation.
About AMG International Realty
AMG International Realty is a global real estate company specializing in Florida. If you want to know more about opportunities in Miami and Orlando, get in touch right now and chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).