South Florida combines strong real estate market fundamentals and demand from second-home and international buyers.  The recent market transition creates opportunities for international and local buyers not seen in nearly fifteen years - including low interest rates, large inventory and buyers' markets.

Local industry leaders expect continued growth in South Florida.  Her's their take on the current real estate market.

"The market fundamentals remain very strong for South Florida: little available land left to develop, low unemployment, historically low interest rates, and a "brand" that all the world seems to be seeking" Ron Shuffield.

While in the current market buyers have more options and room to negotiate, strong demand sustains strong rates of appreciation.  Buyers have the best inventory of properties to choose from in well over a decade.  The median sales price continues to rise but at a slower pace than in the past five record-breaking years.

"Over the years, real estate has been one of the greatest wealth creators.  Not much has changed today, except that prices have settled temprarily, thereby creating an attractive buying opportunity".  Gustavo Rubio.

"The 2007 market correction in residential real estate is attracting particual attention from long-term investors who understand the cyclical nature of real estate and realize that now is the ideal time to buy.: - Michael I. Papas.

Florida is a mega economy, supported by population and job growth - and is a top market for internationl, vacation and second-home buyers.

According to Florida Trend Magazine, April 2006, Florida will pass New York as the thrid most populous state by the year 2011, added about 225,000 new jobs from mid-2004 to mid-2005 and ranked first in the U.S. in job creation. 

South Florida is the top market for net migration from other states in the U. S. Florida welcomes more than 1,200 new residents every day.

Second-home buyers also contribute to a large percentage of sales in South Florida.  Nationally, four out of every 10 real estate transactions are for second homes.  While the exact number is not specifically known for South Florida, it would be significantly higher.

Baby boomers around the world are entering their peak earning years and investing in second, third and fourth homes.  As a top market for second or vacation homes, Florida is a logical choice for baby boomers and other buyers and investors.  Also, during the next ten year, 80 million baby boomers ar expected to retire and many will purchase homes in Florida. 

Recognize as the "Capital of the Americas", South Florida is an internationla market, attracting buyers and businessess from around the country and the world.  More recently Miami has gained even more prominence as a world-class city and additionally benefits from our port, international airport and foreign-born population.

Miami is the most internationl city in the U.S. with the hgighest number of foreign born residents in the country.  Fifteen percent of all real estate transactions in Florida involve a foreign buyer.  The number of foerign buyers is actually much higher because this figure does not include foreign-born individuals with any type of legagl U.S. resident status.

"South Florida real estate is a great buy for foreign buyers because we have moderate real estate pricing compared to other world-class cities, a favorable exchange rate between the Euro and the Pound and the U.S. dollar, and stability in economy and politics attract buyers of real estate form all over the world"  Kimberly A. Kischener.

Source: Oficial Real Estate Guide - South Florida & International. by RAMB Realtor Association of Greater Miami and the Beaches.  Fall/Winter 2007-2008. Article by Teresa King Chief Executive Officer - RAMB