Real Estate Surge: Now is the time to buy and rent property!
With the lowest mortgage rates in 50 years, plus high buyer and rental demand, the South Florida housing market is an investment hot spot, with more than national average rental income AND property appreciation.
In this article we will discuss the current housing market, projected forecasts, along with where and when to invest.
We will focus on the South Florida market as BAI Capital is based in Fort Lauderdale. Most of our risk- managed Equity, Visa and Property Investments are located in this investor friendly area.
2/3 of Miami’s population rents:
“Two-thirds of Miami residents rent, a rental rate rivaling that of New York City. This is partially due to the number of people working in seasonal and temporary jobs in the tourism business. It is partially due to the limited housing supply relative to demand. And it is partially due to the high cost of housing, even inland, relative to local wages.”
Miami is very landlord friendly:
“Whether you’re renting to students, low-income workers, or snowbirds, potential investors in the Miami housing market will be glad to know this is a landlord-friendly market. Florida doesn’t have laws on rent control…”
Miami is growing in both industry and hospitality sectors:
“Many people move to Miami for work. Miami is the largest urban economy in Florida, and it has the 12th largest GDP in the US. The World Cities Study Group classified Miami as an alpha city based on the level of business activity, human capital, and cultural activity.
Miami-Dade County is a global tourist destination. Since 2011, overnight visitors to Miami-Dade have increased by 20 percent, and hotel room nights sold have gone up 22 percent. In 2019, Greater Miami welcomed 24.3 million visitors, for an increase of 4.6 percent over 2018. Travel and tourism fueled a record-breaking 146,700 jobs in 2019.”
Located on Biscayne Boulevard in North Miami Beach, the few remaining Highlands units sit at 475,000- 650,000 USD. Luxurious 2 bedroom condos are within rental averages for the neighborhood, with monthly rentals at 2400-2800 USD/ per month, and daily rental at 200-300 USD/ per day.
International buyers can apply for the current 3% 30 year fixed mortgage rate for 50% of the purchase price. This attractive Miami investment opportunity is available for those investors who are looking for a steady return every month and are ready to invest before the last units sell out.
Highlands Residences is one of BAI Capital’s recent successes, completed in February 2020. EB5 Visa Immigrant Investors invested in Equity in this development fund and are now beginning to see their petitions approved along with their investment returned.
There are now limited opportunities for investors, both American and International, to purchase the few remaining available condo units of this ideally situated property. 1, 2 and 3 bedroom, they are built and ready to rent. Annual, monthly or daily rental, as fits your goals.
Lets wrap up today’s article:
What is today’s investment? Condominium Ownership and Rental in South Florida.
What are the returns? Above national average Rental Income and Property Appreciation.
What is the investment stability? Medium to high, with 2/3 of area population in rental.
When to buy? Now, before market changes and units sell out.
When to sell? Based on investors unique portfolio; as market values increase.