Foreign Cash Driving Miami Real Estate Growth
According to a recent report in CNBC, Miami Real Estate is booming, thanks to a large and growing number of foreign buyers who are acquiring properties with cash.
A very large percentage of wealthy Miami home buyers are from overseas, and a huge portion of those foreign buyers pay for their homes in cash, according to one realtor from the area.
Speaking of her own experience with high-end buyers, Patricia Delinois, CEO of Century 21 Premier Elite Realty, said that “62 percent of the buyers are from overseas, and 90 percent of those buyers are purchasing homes in cash.”
Delinois, told CNBC’s “Power House” that said “cash is king” among buyers who hail largely from Brazil, Venezuela, Argentina, Canada, France, Colombia, Mexico, and Peru. (Delinois made no mention of Russian buyers, who have been prominent in the market in recent years.)
Furthermore, the Miami Association of Realtors reported that by the end of April, the median sale price for a single family home in Miami-Dade County was $243,000 – a full eight percent more from last year.
The data are clear: Miami real estate is hotter than ever, and the trend is being driven overwhelmingly by international buyers. The best way to reach an overseas market is through the Internet, which means you need effective, visible, and functional Miami Real Estate Marketing to draw in those invaluable leads.
That’s why you need TREM Group, a leader in Miami Real Estate Web Design and optimization. We’ve got the technical skill, creative savvy, and in-depth experience to offer you the most attractive and efficient website on the market. With sleek designs, innovative tools, and up-to-date listings, your website will stand out in this increasingly web-driven market.
If you’d like to optimally tap into this incredibly opportune trend, or even receive a free consultation, then give us a call at 305-705-5000.