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Real estate agency in Miami Beach

The fastest growth in rental prices in the country

The fastest growth in rental prices in the country

This year definitely is one to remember. Nationwide, Miami had the fastest growth in rent over the past 2 years, reaching its highest level ever in February 2022 with +55%. Our wonderful city is now the least affordable among the 50 biggest cities in the United States! The most surprising is that even though rent continues to skyrocket, newcomers still arrive every day. 

Meanwhile, the median rent around the country is $1,792, which is 17% up from last year.

Double digits percentage for the seventh-straight month of the price increase. Insane!

In this unbelievable price battle, some cities are still standing out. Indeed, Cleveland, Minneapolis or Detroit are only up to 6% in rent prices. Easily explainable by the location of these cities, well known to be cold. On the contrary, The Sun Belt continues to attract Americans and foreigners. As a matter of fact, the attractive lifestyle the Southern States provides combining lovely weather and “affordable” housing does not weaken. In fact, Arizona, Texas, and California are witnessing the same type of increase in price as Florida.

How much rent can one afford?

In general, the rent should never overcome 30% of the monthly income in order to have financial stability. That’s on paper, nevertheless, in reality, rent is taking a bigger share of income. Especially since the pandemic, inbound migration made Miami’s median reach $2,929.

But if you’re looking for a more affordable location, there are some remaining cities where rent is lower: Oklahoma City, Denver, DC, and St. Louis.

Although you need to be very smart when thinking about renting, some professionals say that buying a starter home is sometimes cheaper than renting. At least in Miami.

 
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Posted by on May 2, 2022 in News

 

How to know when to buy a property?

How to know when to buy a property?

When it comes to buying a property, we all have various motives, but one we would all agree on would be: to avoid losing money by any means!

Eventually, you can reduce the risks of buying the wrong property, following the advice of your realtor, or real estate professionals in the designated area.

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Posted by on March 8, 2022 in News

 

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Florida’s Real Estate future

Florida’s Real Estate future

With non-stop population growth, Florida is the seventh-fastest growing state in the U.S., with a growth percentage of 1.12%. Florida’s population grew from 21,254,926 to 21,733,312. It is the third-largest state by population in the United States of America.

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Posted by on January 18, 2022 in News

 

Downtown, your time has come!

Downtown, your time has come!

Only a few minutes from the beach, enjoy culture & entertainment in Downtown Miami. This wonderful area sprawls over the mainland as well as Dodge Island and Virginia Key. The Port of Miami is the largest passenger port in the world, and one of the largest cargo ports in the United States!

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Posted by on December 15, 2021 in News

 

Is the Miami-Dade housing “bubble” about to deflate?

Is the Miami-Dade housing “bubble” about to deflate?

The current state of America’s housing market raises a lot of questions. Professionals and users seem concerned about the Real Estate market. Housing prices are rising faster, higher than ever. Today’s situation is the result of many factors combined, but the pandemic definitely triggered the whole industry. In fact, the Covid-19 situation lasted long enough to create lifestyle changes. For example, the impact of societal behavior pushed more millennials toward homeownership and families to get a bit further from big cities.

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Posted by on November 10, 2021 in News

 

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The condo market in Miami is better than what you think!

The condo market in Miami is better than what you think!

The condo market in Miami has suffered a remarkable drop in the volume of sales in June compared to the year before. Additionally, after 2 consecutive years of rising prices, this year showed the first sale price decrease of -1.4%, leaving a median price of $252,000 in June 2020.

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Posted by on August 7, 2020 in News

 

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Will the pandemic kill the co-living market in Miami?

Will the pandemic kill the co-living market in Miami?

Some of you might recall that the co-living industry in Miami was a hot topic some months back. Several co-living developments such as X Miami or Roam were through the roof at the beginning of the year, and more new developments were under discussion.

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Posted by on July 17, 2020 in News

 

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Why Millennials don’t want to live in Miami?

Why Millennials don’t want to live in Miami?

According to a study from SmartAsset, in the past 3 years, Millennials (people between the ages of 20 up to 34) are moving out of Miami. This has created a negative net migration of this population group, meaning that more millennials are moving out of the city, compared to the ones moving in.

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Posted by on June 19, 2020 in News

 

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Miami rental prices fell, but remain No. 10 among the highest in the U.S.

Miami rental prices fell, but remain No. 10 among the highest in the U.S.

The rental market in Miami has always been recognized for having one of the highest rental prices in the U.S. Being ranked #10 out of the 100 metro areas in the country this month, the median rent price in Miami has reduced 2.2% from $1,750 for a one-bedroom/ one-bathroom in May compared to last year when the median cost was $1,790).

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Posted by on June 5, 2020 in News

 

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Video: My thoughts on how will real estate look like after COVID-19

Video: My thoughts on how will real estate look like after COVID-19
COVID-19 has drastically changed our way of living, from simple daily routines as going to a supermarket to the way we invest. We are creating a new normal and in this video, I wanted to express my thoughts on this “Post-Coronavirus situation” for residential and commercial real estate.
This reopening period is crucial for current real estate investors and for future ones, as this has been one of the most drastic changes our society has suffered.
 
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Posted by on May 18, 2020 in News

 

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