Miami real estate is performing better than ever among foreigners, and agents and brokers are trying their hardest to outcompete their colleagues and attract new investment from around the world. According to a new article in the Associated Press, foreigners spent $6.1 billion on South Florida real estate in 2015. Just to put that in perspective, non-Americans were plunking $16.7 million on new properties in Miami every single day.
And according to experts, that trend is showing no sign of stopping. This is from the AP article:
Anthony Graziano, executive director at Integra Realty Resources, who has analyzed the Miami market, expects sales to remain strong for properties worth more than $1 million, outpacing those in the $400,000-to-$800,000 range. Graziano describes a wave of wealthy buyers who seem intent on investing in properties that can protect their money from volatile markets.
“There really is no other place to put your money,” he said. “Stocks are getting hammered. Bonds are getting high. What is your equity play if you’re an ultra-high-net-worth investor? Buy one-of-a-kind luxury real estate.”
What does that mean for real estate agents trying to take advantage of this lucrative market? It means you must now be on your A game. Speaking for us at TREM Group, we’ve been focusing on the luxury market for years, long before the current high-end boom. We’ve learned a lot of lessons since then, including best SEO practices and user experience guidelines. We build those lessons learned into each custom website that we create for luxury Realtors and brokers.
If you want to learn more about revamping your current real estate website to target international luxury buyers, we’re here to answer your questions. Just call us at 305-705-5000.