Miami, the cosmopolitan and dynamic city
Miami is the second richest city in the United States and the third in the world in terms of purchasing power. It’s a cosmopolitan city – 70% of the population is Hispanic – and young – the average age of residents is 40 years old.
It’s gigantic here, the skyscrapers form a skyline with an elegant design, the urban connections intermingle, the temperature is summery and the beaches as far as the eye can see. The mix from one district to another is just as astonishing, from Brickell, the business center, to Miami Beach, the art deco district, to Coconut Grove, the historic center, via Coral Gables, and its opulent villas. Victorian tunes.
I like this gigantism, this dynamic and extraordinary city, this mixture of races and languages, a southern joie de vivre, these spaces of freedom and security.
Attention ! To live here properly, it is better to be CSP+. Julien, a French expatriate, tells me that his rent has been increased from 2000 to 2900 € with one month’s notice. The approval of rental files is often subject to the payment of one year’s rent in advance. As for acquiring real estate, cash purchase is preferred!
The real estate market in Miami is booming.
Miami residents generally prefer to rent rather than buy real estate property. Strong rental demand is thus propelling rental prices. The yield is extraordinary for rental investors.
After the COVID crisis there was a sharp acceleration in real estate prices. Over the period November 2020 – November 2021, the average price of a real estate property jumped by 18%. It trades (on average) at a price of $453,000 (November 2021) according to the Zillow Home Value Index ranking.
Investing in Miami, there are still opportunities, prices are high but remain stable despite rising interest rates.
A 26th edition for the International RE Congress in Miami
This Congress is always managed with an expert hand by Teresa King Kinney, the general manager of Miami Realtors. It is the largest association of brokers and real estate brokers in the United States. After three years without meeting us due to the health crisis, 18 foreign delegations made the trip: Canada, Brazil, Dubai, Holland, Colombia… With a very moving moment: standing ovation at the entrance of the delegation of agents Ukrainian real estate.
The National Association of Realtors (NAR) Convention in Orlando
It is the annual gathering of American real estate agents and brokers. A FNAIM Congress version in XXL format. It was held this year at the Orlando Convention Center in the presence of the American and global real estate elite. The opportunity to take the temperature of the market at this eventful end of 2022.
Here, the key word is “global”: real estate markets are interconnected between nations. Capital circulates in the world and moves according to opportunities. The reaction after Covid was global: trend decline in interest rates; strong recovery in sales, increase in market prices; movement of exodus from megalopolises to agglomerations on a human scale; appreciation of houses with gardens to the detriment of apartments in town.
We are always surprised on our trips across the Atlantic by the welcome given to our French delegation. France is appreciated in the United States and around the world for its quality of life, the beauty of his capital, Paris, and the diversity of its territories. This is what we represent and sell.
Foreign and non-resident buyers represent 6% of the real estate transaction market in France: a significant volume. Agence Etoile, with an international network, presents its high-end properties to foreign investors.