Yet another month sees a rise in the sales of new homes in the country suggesting that the market is recuperating albeit at a slow pace. The rise from April to May is 7.6%, according to the Miami Herald, and it is the highest rise since 2010. These are the numbers for the overall country, but here in Miami we can see a similar trend. Over 1,400 condos were sold in Dade County in April but in May over 1,500 sold in the same area.
Brickell and the Downtown Area a Hot Spot
"New condos in Miami are in demand" says Ethelbert Bascom CEO of Florida Home Sales and Investment" and we can see that in the new development plans in Brickell and downtown Miami, for example." He adds that by making the areas more consumer friendly by planning new retail projects that will greatly benefit the future home owners in the area. New condo towers are on the horizon in the area, and already this area is getting more sought after by investors and homebuyers alike. "We see that all deals are being swept up in the area" and prices are slowly rising. However, that being said, this applies mostly to newer buildings and older properties need to be competitively priced to have a fast turnover, he adds.
Broward County Also Sees a Rise in Sold Properties
Paul Owers at the Sun-Sentinel reports that sales have risen in Broward County as well, claiming that the market is showing strong signs of recovery, as the numbers show steadily since the fall of 2011. However, sales in Palm County went down a little in May but the prices have gone up at the same time, showing, according to Owers, that the market is getting more stable.
South Florida Market Appealing to Foreign Investors
"Here at Florida Home Sales and Investments, we are still working a lot with foreign investors, who see both the market here as a good bet for investment based on its history of fast revenue and the rising rent prices, "says Ethelbert Bascom." It doesn‘t miniminze the interest if the currency ratio is favourable."
Brickell and the Downtown Area a Hot Spot
"New condos in Miami are in demand" says Ethelbert Bascom CEO of Florida Home Sales and Investment" and we can see that in the new development plans in Brickell and downtown Miami, for example." He adds that by making the areas more consumer friendly by planning new retail projects that will greatly benefit the future home owners in the area. New condo towers are on the horizon in the area, and already this area is getting more sought after by investors and homebuyers alike. "We see that all deals are being swept up in the area" and prices are slowly rising. However, that being said, this applies mostly to newer buildings and older properties need to be competitively priced to have a fast turnover, he adds.
Broward County Also Sees a Rise in Sold Properties
Paul Owers at the Sun-Sentinel reports that sales have risen in Broward County as well, claiming that the market is showing strong signs of recovery, as the numbers show steadily since the fall of 2011. However, sales in Palm County went down a little in May but the prices have gone up at the same time, showing, according to Owers, that the market is getting more stable.
South Florida Market Appealing to Foreign Investors
"Here at Florida Home Sales and Investments, we are still working a lot with foreign investors, who see both the market here as a good bet for investment based on its history of fast revenue and the rising rent prices, "says Ethelbert Bascom." It doesn‘t miniminze the interest if the currency ratio is favourable."
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