South Beach Real Estate - Investing in Condos

For over a century Miami Beach has been one of America’s premier beach resort destinations. The city’s ever-popular South Beach district is probably the most exciting section of the Miami real estate market.

South Beach is a charming vacation spot filled with Art Deco hotels, and the new hi-rise condos which become the center attraction for European and American real estate investors. South Beach offers tourists a life in a paradise with it’s diverse culture, fine dining, beautiful sandy beaches and flamboyant and vibrant nightlife.

For overseas homebuyers South Beach condos is a top-rated investment and destination.

According to the 2007 National Association of REALTORS the latest and most comprehensive research exploring the characteristics of second-home purchases in the U.S. made by international clients reveal that Miami Beach is the top destination for international buyers!

Despite the housing slowdown, international clients still account for a significant share of real estate business in the US from April 2006 to April 2007. This is great news for Miami Beach where a large number of buyers are foreign born and may point to healthy appreciation rates locally for years to come.

In fact, twenty six percent of all international home buying transactions in the U.S. take place in Florida. California was next at sixteen percent, followed by Texas at ten percent. Each of these states is recognized as a major gateway for visitors to the U.S. from other countries. Miami Beach is additional known as the “Gateway to the Americas”.

As a financial and transport gateway between the United States and Latin America, Miami, along with its closest neighbor Miami Beach, has long attracted a lot of international investment. However, in recent years the flow of overseas money into Florida has become a gushing torrent, as investors awash with cash from economic growth in Latin America seek to capitalize on the city's soaring property values, according to property analysts.

South Florida is a popular destination for Europeans, as such portfolio managers and institutional invertors in many countries tend to view the Miami beachfront property market as a bargain even at current prices, especially if compared to skyrocketing property values in Europe, particularly when purchased with dollars that are weak relative to the euro and other major currencies.

Foreign Investments Account For A Huge Chunk Of Property Sales According to data from the National Association of Realtors, foreign investment now accounts for about 15 percent of all home sales in Florida, with the figure estimated to be much higher in Miami Beach. A lot of this money is going into mixed-use developments that blend high-rise residential units with some office, retail, and hotel construction.