From the article:
Buying condos is not like single-family homes in the sense that there may be hundreds of units in one development. The more units exist in a project the more important it is to buy the prime units. How do you define that? Think what makes sense to an end-user- good logical floor plans, the best views, and in skyscrapers it’s best to avoid low floors as higher floors usually have more demand in the resale market. If dense living or high rises aren’t for you then purchasing in a boutique development may be the best plan; in Miami, an example would be Villa Valencia in Coral Gables- a small development of only 39 units with 19,000 square feet of amenities. In Dubai, single-building projects in prime locations such as the Four Seasons Residences at Jumeirah beach or One Palm Jumeirah.
Understand what the market currently needs and wants
Another common thread between these sunshine cities is the fast-paced ever-changing market dynamic. As both cities are still growing, housing needs can shapeshift and it’s important to understand
For example, Miami has recently been experiencing the relocation of large corporate headquarters from New York City and a tech boom in this Covid 19-era, also more people will be working from home permanently- therefore there is a strong near future demand for office condos. Dubai has been taking advantage of the exodus from Europe and the UK for two main reasons- the tax advantages and the ability to get a lot more for your money than back home. The tax advantage means high rental yields are achievable so acquiring condos with a 6-8% are highly viable.
Villa Valencia residences start from $1.8 million. For more information, visit www.villavalencia.com or call 786-971–6680.
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