Posted on 11/06/2013 to General
Miami's Prices are Still a Bargain Compared to other Global Cities
Properties in Miami continue to appreciate in double digits but Miami is still vastly underpriced compared to other global cities in the world. I might be different in a couple of years but for the moment Miami remains a bargain in comparison to London, Hong Kong, Tokyo or New York. According to the most recent report by the Global Property Guide on the prices per square meter of the most expensive cities in the world and another report by Christie’s IRE we can deduce that you could buy 7 condos in Miami ($440/Sqf) for the same price you would buy 1 in London ($3,073/Sqf). The figures in the study are based on the average for a 120 square meter apartment in a prime inner city area. This is one of the multiple reasons why we sold to International buyers $ 68.2 Billion in 12 Months Ending March 2013 as reported by the Miami Association of Realtors.
Recently a Japanese real estate broker who represented 10 buyers facilitated the sale of 10 units at Nine, an under construction project in Mary Brickell Village. With that same money those buyers could have afford just 4 units in Tokyo ($1,065/Sqf). Canadians continue to buy in Miami in large volume and their logic is impeccable because not only they winter the cold months in sunny Miami but also they made a great investment. In Toronto they would have to pay $770 per Square foot while here they have much more buying power at $440/sqf for a much warmer deal. See below the comparison chart of the most expensive cities in the world and come to and invest in Miami while it is still a bargain! Today the Square Meter in Miami is only $4,736/SqM ($440/Sqf) and $7,696/SqM ($715/Sqf) in Miami Beach.
Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com
To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com
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