Jack叔叔的小屋
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Zeus111 wrote:
I too am in the final stages of taking the plunge and choosing to invest in the U.S and specifically Miami.
By background, i work in property development, so i have a good grasp of property fundamentals and the thing that makes investing in the U.S so much easier is the amount of research on residential property trends and analysis in the U.S. It makes the Australian residential market look very immature by comparison.
The key fundamental in real estate is scarcity.......scarcity creates value and it also shields an asset to some extent in a downturn. That principle can be applied in any market at any time and it will hold true. Which is why i like Miami beach and downtown Miami. Water frontage is a scarce commodity and once it's developed that's it All things considered, Miami beach has probably fared the best of the Miami precincts and i think will hold the best prospects for future capital growth again, particularly south beach. There is a finite number of development sites left on Miami beach thanks to the building boom of the early to mid 2000's and this will create scarcity once the unsold stock of condo is soaked up by the market over the next two to three years. Given the amount of unsold stock, i think Miami is at least a seven year play at a minimum.
I have been to Miami twice and area's that i think have good potential are south beach, downtown, South Miami (Cutler Bay, Palmetto Bay, Keys gate), Aventura, and the Design District.
The other thing i like about Miami is that it will always attract foreign investment, both in the form of investors and wannabe residents. And indeed i think it's the foreign investment currently flooding into Miami which is putting somewhat of a floor on prices, particularly in the Miami beach area.
The thing about cities like Kansas, Cleveland, Detroit etc that makes me nervous is the illiquidity in those markets if things go pear shaped for any reason........Miami there will always be buyers at a price, particularly in sought after area's of Miami due to the attractiveness of the city to Foreign investment.
I too am in the final stages of taking the plunge and choosing to invest in the U.S and specifically Miami.
By background, i work in property development, so i have a good grasp of property fundamentals and the thing that makes investing in the U.S so much easier is the amount of research on residential property trends and analysis in the U.S. It makes the Australian residential market look very immature by comparison.
The key fundamental in real estate is scarcity.......scarcity creates value and it also shields an asset to some extent in a downturn. That principle can be applied in any market at any time and it will hold true. Which is why i like Miami beach and downtown Miami. Water frontage is a scarce commodity and once it's developed that's it All things considered, Miami beach has probably fared the best of the Miami precincts and i think will hold the best prospects for future capital growth again, particularly south beach. There is a finite number of development sites left on Miami beach thanks to the building boom of the early to mid 2000's and this will create scarcity once the unsold stock of condo is soaked up by the market over the next two to three years. Given the amount of unsold stock, i think Miami is at least a seven year play at a minimum.
I have been to Miami twice and area's that i think have good potential are south beach, downtown, South Miami (Cutler Bay, Palmetto Bay, Keys gate), Aventura, and the Design District.
The other thing i like about Miami is that it will always attract foreign investment, both in the form of investors and wannabe residents. And indeed i think it's the foreign investment currently flooding into Miami which is putting somewhat of a floor on prices, particularly in the Miami beach area.
The thing about cities like Kansas, Cleveland, Detroit etc that makes me nervous is the illiquidity in those markets if things go pear shaped for any reason........Miami there will always be buyers at a price, particularly in sought after area's of Miami due to the attractiveness of the city to Foreign investment.
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