The Popularity of Miami Beach Condos

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					The Popularity of Miami Beach Condos
Miami Beach has been an ideal summer destination for many local and
global tourists alike.
Many of them are now flocking in hotels to book for their summer getaway.
But many foreign investors are now grabbing real estate properties here
and there to set up a permanent shop in the area.
The Sights and Sounds
Miami Beach offers plenty of sights and sounds to both tourists and
locals alike, which is a reason on the sudden increase of Miami Beach
condo acquisition in the past few months, especially from foreigners.
The Miami Beach is quite famous for its tropical climate, surf, white
sand, and the wide blue sea. The Art Deco district continues to marvel
tourists and locals alike, and the wide array of establishments from
entertainment arcades to classy restaurants is filled to the brim.
There are plenty of exciting outdoor adventures to be had around Miami
Beach. You can avail of many water-sport activities like surfing, water
skiing, fishing, or a simple yacht expedition on the deep blue sea. These
are just some facts about Miami Beach which contributed to the increase
of real estate acquisition in the area.
Rush Condo Buying
Many foreigners are now rushing about to buy condo units around Miami
Beach. Statistic shows that within the first 2 month of 2008, there was a
7 percent increase of real estate acquisition by foreigners.
As a sign of good news, reports shows that there is around 19 percent
decrease in the total number of Miami Beach condo supply in the area, and
will continue to reduce in the following months unless more construction
projects are in the works.
Since the supply of condo units is going down while the demand is on the
rise, the prices might skyrocket in the next few months. This might sound
intimidating to the local investors, but may be the best deals for
overseas buyers.
A majority of the brokers around the area are also bragging about closing
deal with overseas clients in various real estate properties in the area.
The reason this is because of the drop of real estate properties in Miami
Beach, especially condominiums, within 20 to 30 percent for this year.
Also, the National Association of Realtors noticed that many foreign
buyers are paying for their real estate purchases in cash, rather than
credit or through installment terms.
This simply means that many of these overseas buyers are looking into the
many real estate opportunities in the area, as well as doing research on
the market prices which regards to these "for sale" assets.
This also proves that the number of foreign buyers for Miami Beach condos
is on the rise - and will continue to do so in the next couple of months
of 2008. - Miami Condo
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