What is it that’s making the real estate market in South Florida start to expand and grow further and faster than before? As you might imagine, it’s a combination of elements, with the weather still being a prime factor. The cold weather and massive snowstorms that gripped much of the country through the winter turned out to be quite an incentive. A lot of people are of the mind that they don’t want to go through another long, cold winter.
Considering that there are still restrictions on things like dining, entertainment, and sports in so many parts of the country, and peoples’ only outlet is to get outside into the frigid snow, it’s no wonder that people are thinking about how nice it would be to live in beautiful Miami. When you look at winter temperature differences for places like New York or Wisconsin to the sunny climes of Miami, the picture becomes clear. People like better weather.
Of course, it isn’t only the weather that draws them south to the Sunshine State. They also look for places that are more open and have fewer masking requirements in some cases. They long for an open economy.
The Boom Was Inevitable
However, with all of the reasons that the economy in the Miami area has boomed, not many people thought that it would flourish as much as it is. One of the best things about this boom is that it doesn’t seem like it is going to vanish anytime soon. The boom will continue even though many other parts of the country, such as NYC and San Francisco are having troubles in the real estate market.
One of the other interesting facts about the boom is the type of homes that are being bought. People are looking for homes that are the epitome of luxury. They want to have a large space where they can relax and enjoy life. One such property, “The Beach House” as it is known, is 6,000 square feet located in Ocean House. It has five bedrooms, six bathrooms, sunrise and sunset terraces, a movie theater, a home office, and more. It closed for $15,060,000. Other luxury homes are hitting the market and going into bidding wars because people want to live in luxury, especially right now.
If you are interested in buying a property in Miami, you aren’t alone.