Real
estate prices in Miami are up more than 21 percent in the last 12 months,
according to a global cities index with no signs of deflation or leveling off.
And as prices rise, investors buy up properties hoping to capitalize on the
rental market.
If investors seek to make a good
income from their investment, potential homeowners who are still reluctant to
buy are searching for available rental units before they decide to plunge back
into homeownership.
Even as data from the real estate
firm, Trulia, has shown that buying is 43 percent cheaper than renting in
Miami, investors are having no problem renting their properties out after
closing. The biggest challenge to investors is that financing is still
difficult to come by, making cash buyers the most popular with banks.
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