It is important that investors invest in properties on the basis of a sound rationale and principles. The most important fundamental is to select the precise location of investment for the real estate investment. This principle has led investors flock to various regions and countries all over the world to make the right investments. The United States has an extremely pro-active real estate markets in the world. While focusing on the real estate market in US, it is important to consider some domestic property markets that contribute significantly to the overall growth of the sector. One such exciting and pulsating real estate market is that of Miami.

Features of Real Estate Investment in Miami

The real estate market in Miami is continuing to grow and expand. This growth can be attributed to various factors. A large number of investors are attracted to the Miami real estate market due to its following features:

1) Miami is one of the premier business and economic centers in the country. It has a large proportion of international business community and major commercial establishments in the city. As the economy grows, the demand for properties would also grow. A large number of businessmen want to purchase a property in Miami either to start a new firm or to capitalize on the economic growth in the region.

2) To cater to the increasing influx of tourists that flock to the Miami beaches there is a great rise in the number of investments in beach resorts and holiday homes in the region. A large number of investors find the option of tourism a very lucrative idea. Investors purchase a property and then rent it out for tourists at a fair price. This implies that the investors can repay the loan from the revenue collected from the rent and also eventually be the owner of some of the most beautiful properties in the country.

3) The year 2005 saw the greatest real estate booms in the city since 1920.

4) The most sought-after properties in Miami are the condos and investors especially looking for investing in condos flock to Miami.

Tips for Investment in Miami

Like in every region, the city of Miami also has a separate and specific real estate investment process. The significant tips that would help in the real estate investment process in Miami are as follows:

1) Miami is an extremely competitive real estate market. Hence, it is essential that the investor take the right decision on the basis of precise market analysis.

2) There are different types of properties with different prices available in the Miami real estate market. Hence, the investor must decide before hand the precise property in which he would like to invest. The investor must purchase a property that fits his lifestyle and is the best option available in terms of its location and size.

3) It is only when the investor decides on the property that he will be able to contact the right lender and get the loan approval. The loan approval would help the investor in knowing the exact rate of interest charged on the loan and the EMIs that the investor would have to pay.

4) It is essential that investor take the help of a broker or a company that specializes in Miami real estate. It is essential that the broker has experience and knowledge of the Miami real estate market and its unique characteristics. This would help the investors in investing in the precise property in Miami.

5) The broker or the real estate company must have experience and skill to negotiate properly the price and the closing details of the property.

Miami Real Estate Investments An Overview

Miami is the sixth largest metropolitan city in the United States. Also, it is one of the epicenters in the southeastern region of Florida. With respect to population, Miami is the largest city in the county of Miami-Dade. These statistics indicate the significance of the city of Miami in the whole scheme of things. Hence, it comes as no surprise that Miami is one of the most important real estate destinations in the country. The real estate market in Miami is developing as a result of the great trade, commerce and tourist activities taking place. Miami is an important port and one of the major business centers in the country. This bustling activity has resulted in the escalation of real estate investments and rise in prices of the properties. Investors are making a beeline to purchase beach homes, condos and commercial properties.

In 2005, the shortage of homes, commercial properties and plain land reached a new high. Due to growing demand and low mortgage rates, there was an unprecedented rise in the price of real estate in Miami. While in June 2000, the median sales price was $119,600, it rose to about $189,200 in 2005. There was a drastic rise of 108% in the five-year period of 2000 to 2005. The median rise of prices in Miami also brought about a 31% rise in the median prices in the entire state of Florida. This has also prompted a national median sales rise of about 6.4% in 2006.

2006 did not begin on a very positive note. After the peak in 2005, the real estate market in Miami experienced a slump. The real estate investors have been luring investors by all possible ways and means. However, the market is showing signs of revival mainly due to some major real estate investments and projects proposed in the country. There is a huge project of 25-unit condominium project all set to begin in the city. Apart from it, one major project that every investor is looking forward to is a $420 million worth stadium that is being constructed mainly to give a boost to the declining real estate market in the city. The stadium is being constructed over nine acres of land owned by the government.

There is no doubt that real estate investments in Miami are one of the best investment avenues for an investor. Experts opine that Miami is arguably the best place for investing in luxury condos in the country. Miami certainly has something for every kind of investor.