Luxury prices in Miami are much more affordable than other global cities

Florida —No. 1 with U.K. Buyers in the U.S

When it comes to buying a home in the U.S., Brits have largely preferred Florida. So what does their vote for Brexit mean for the Sunshine State's residential market?

For some, the answer is more business.

In the period from April 2014 through March 2015, U.K. homebuyers made 29% of their purchases of U.S. residential real estate in Florida, according to data from the National Association of Realtors. Arizona was the second largest recipient of their property investments with a distant 8%.

“It is very clear that Brexit will ultimately fare well for major metropolitan cities in the U.S.” as British buyers search for safer havens for their capital.

It is foreseeable that many will be moving their assets from the U.K. and placing them in the U.S., and in South Florida, in particular, thanks to the area's supply of luxury real estate at prices that are much lower than in other international cities.

Miami offers property investors more for their money than any other major city in the U.S.

$1 million buys 77 square meters (830 square feet) but just 65 square meters (700 square feet) in Los Angeles and 27 square meters (290 square feet) in New York.

You can still find significant discounts in Miami when compared to other parts of the world.

If you are looking for a holiday home, exceptional residence or great investment opportunity in Miami area or wider Florida, we will be glad to help you. We have an outstanding variety of new, luxury and bargain properties, both sale and rental in South Florida and our staff is on hand to assist you finding a suitable home in this exciting part of the USA. For more details and detailed guidance about properties in Florida, please refer to our websitewww.ecsmproperty.uk.com.

26 Sep 2016

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