Now that rental rates are going up, more investors have money to new properties in line for the new decade’s 1st generation of buildings and home properties to be built on Miami. If these developments continue to grow, then more buyers and investors all over the world will be more interested in the properties listed on the real estate market’s inventory.
Come to think of it, the commercial real estate properties all over the country are also the ones responsible as to why the real estate market in their respective places is stabilizing. One of the reasons why it can help stabilize the market is because people rent properties, which does not entitle them to pay any mortgages as opposed to owning a home or condo property that is not fully paid.
The national rate for renting is usually around $3.25 per square foot which is not bad! Now that there are more rental properties available than home properties for sale at certain areas – only time will tell as to when the real estate market can bounce back – not just in South Florida, but nationwide.
Daily News Miami