Struggling Property Investors Should Invest In Miami Property For Instant Returns

I often hear from my friend Steve out in Miami around this time of year. Steve is one of the guys who likes to gloat about the weather and all those other things that are great in America. He couldn’t resist telling me how hot it was outside, 26 degrees by all accounts.

A couple of years back I could have responded by asking him “How is the property market in Miami? Can I buy an apartment for less than a 100k yet?”

This year he had me. I really couldn’t think of any reason why I would be better off investing in European property in 2012.  Property prices fell by 1.8% on average across Europe and looking back, in the UK, there wasn’t even the bonus of a decent summer.

My friend Steve works in real estate and he tells me that the sunshine is not the only thing he is enjoying in Miami at the moment. The other is Miami’s property boom.

He tells me he hasn’t seen a boom like it before, even in the good old days before 2006.

He is not wrong either, a quick look at the stats on Miami property tell us that it is now one of the fastest growing property markets in the world. Any doubts about a revival were dispelled by a rapid increase in sales and prices that has seen Miami rise to third in the most recent Knight Frank Prime Cities Index.

Property prices in Miami grew 18% year-on-year and this was beaten only by Dubai and Jakarta at 19.9% and 28.5% respectively. We of course already predicted a year ago that Miami would be one of the star performers, but the pace of growth in Miami and Florida surprised even us.

Miami has a GDP higher than the national economies of Hong Kong or Portugal and a growing population that is rising fast and this too is feeding into demand and making people, like my friend Steve, very confident about next year.

On this occasion, I am inclined to agree with him and also several US analysts who are predicting that the best is yet to come for investors who are looking for a fast return on their investment in Miami Property.

Can you think of another market thjat offers better prospects than Miami in 2013? Please leave your comments below:

Kind Regards

Loxley McKenzie
Managing Director

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