October 8, 2012
The savvy real estate investor knows that this is the perfect time to purchase a luxury oceanfront home from Miami to Palm Beach. The prices of luxury oceanfront properties are very low right now compared to other parts of the country and world. Investors from around the world have set their sites on luxury oceanfront condos and luxury waterfront estates from Miami to Palm Beach over the past ten months for a few key reasons.
Why it’s a Great Time to Purchase a Luxury Oceanfront Home
- Historically Low Interest Rates-Interest rates have been very low over the past year. If your credit is good you can get an interest rate today of about 3.38 percent. This is one of the reasons many people are buying luxury oceanfront real estate. Before the housing market crash interest rates were closer to 7 percent.
- Running out of Luxury Oceanfront Inventory- one thing to keep in mind is that the best luxury homes in the best locations sell first. We have some of the most luxurious properties in the country down here. The weather is ideal and there are many activities for the young and the young at heart. We are quickly running out of luxury waterfront condos and luxury oceanfront estates. If you want to buy a luxury property on the ocean at a great price, this is the time to do it.
- Price Increases in the Near Future-a couple of years ago it was hard to tell what was going to happen with the luxury housing market, and whether we were going to see a recovery. Things have changed a lot since then. Not only are we seeing sales increase, but studies are showing that we can expect an increase in luxury housing prices over the next few years. Sales have gone up considerably and it looks like we can expect more of the same the rest of this year and next year.
- Know the Luxury Oceanfront Market-prices of luxury oceanfront condos and estates are low right now compared to what they were before the housing market crash. Smart buyers know they need an expert in the field to help them do the research and figure out where the real opportunities are. This is a time when you need the professional guidance of a broker like Niki Higgins. Niki Higgins is the owner and broker for The Seaside Group at Douglas Elliman, Inc. She specializes in the luxury waterfront and seaside market from South Beach to Palm Beach, and she knows where the luxury oceanfront gems are.
- Buy Low and Sell High-investors know this is the time to buy because things are going to change soon. Donald Trump is one of the many real estate investors purchasing and building luxury condos in South Florida. Trump has been purchasing hotels in the area and considering building new luxury condos in Palm Beach because he knows prices are going to go up over the next few years. This is a perfect time to buy luxury oceanfront property for investment purposes. You always want to buy property when the prices are low and sell when they are high.
Purchasing a luxury oceanfront residence is a smart investment these days. Those were only a few reasons why you should consider buying a luxury oceanfront condo or estate at this time. Many people simply purchase a luxury oceanfront condo or estate in South Florida for the ocean, relaxed environment and just to get away from it all.
