Month: April 2014

Miami is the Top Choice for Foreign Investors

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A recent study from Realtor.com lists Miami as the second most popular real estate market for foreign homebuyers. Of the top three cities, Miami offers investors some of the lowest prices and interest rates. Another key factor in attracting attention from the international scene is the large number of premium, beachfront properties available, catching the eyes of rich buyers looking to invest in the Miami lifestyle or cash in on the recovering housing market.

International clients bought $68.2 billion worth of properties in the U.S. in 2013, and foreign homebuyers are at their second highest level in recent years. As interest in purchasing vacation homes in the U.S. continues to grow, Miami is quickly becoming the premiere destination. The Sterling Luxury Group has experienced a substantial rise in foreign buyers interested specifically in Miami for its natural beauty, richly diverse culture, and tropical climate. With their established Dubai presence, Sterling Luxury Group is a highly sought after authority on high-end real estate in Miami and has been assisting an increasing number of Dubai foreign nationals with locating luxury properties for vacation homes and for investment purposes.

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Miami’s Economy is BOOMING!

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According to the chief of the Federal Reserve Bank of Atlanta, steady job growth and a strong real estate market have made South Florida’s economic outlook brighter than the rest of the U.S. Southeast.

“On the measure of development of commercial real estate and investment in residential real estate, as well as the employment picture, I think Miami is a little better off than most of the Southeast,” Dennis Lockhart said Wednesday at a Greater Miami Chamber of Commerce event.

Beyond the official unemployment rate reported by the federal government, Lockhart said he and his Atlanta-based forecasters look at a broader labor pool. Their tally includes so-called marginally attached workers who want jobs but are not actively looking as well as part-time workers who would like to move up to full-time employment. The unemployment rate when you factor in those groups is 12.6 percent, he said.

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