PARAMOUNT Miami Worldcenter has released an international video in English, Spanish, Portuguese and Chinese outlining the top 10 reasons downtown Miami is the best long-term condo market in the United States.
“Sophisticated buyers understand that in the long run Miami real estate will continue to climb and has provided great returns to patient buyers and investors. We created a video that in four minutes quickly and effectively explains and summarizes the benefits of investing for the long haul in Miami. The video serves to counter much of the misinformation in the marketplace,” said developer Daniel Kodsi.
The top 10 points delineated for investing in downtown Miami condos are:
· Historical data show real estate appreciates over the long term.
· Demand for new residential units is not speculative – the ratio of new residential permits to population increases is still below equilibrium in Miami-Dade County. The downtown condo supply has decreased since 2014.
· Over 80% of condo sales over the past few years were all cash.
· Miami developers require at least 50 percent deposits before building.
· Miami is a bargain compared to other major cities at $800 per square foot, the lowest of any market in the world.
· Rents are rising.
· Miami offers condos for all types of buyers, with 7,500 condos being added, a far cry from the 18,500 added in the prior cycle.
· Downtown Miami remains vibrant at night, with museums, a performing arts center, professional sports, restaurants, public parks and walkways connecting the waterfront.
· Mass transit accessibility and walkability.
· Miami’s premier status as the City of the Future.
The video shows Miami offers global investors the best of both worlds – a safe haven for their investments and a great place to call home.
Nestled between the Everglades National Park and the Atlantic Ocean, Miami has natural barriers that are driving vertical development. The Brookings Institution projects the global share of population living in urban cities will swell from 54 percent in 2014 to 70 percent in 2050.
Steady population growth demonstrates the world wants to play and live here. The Miami Downtown Development Authority estimates 88,540 residents in Greater Downtown Miami, and the local population should surpass 100,000 by 2021. Greater Downtown has added nearly 22,000 people since 2010 – an increase of almost 33 percent.
The video informs global buyers and brokers on the long-term value of the Miami market and why downtown will continue its trajectory as the most sought-after real estate in the country.
“This video will arm brokers with pertinent information they need to share with potential buyers and investors that relieves any doubts that Miami is very hot and will be a growth mechanism for buyers with a long term horizon,” says OneWorld Properties CEO Peggy Fucci. OneWorld Properties is the exclusive sales and marketing firm for PARAMOUNT Miami Worldcenter.
The signature tower of the massive Miami Worldcenter, one of the largest mixed-use projects in the country, PARAMOUNT Miami Worldcenter has attracted buyers spanning more than 40 countries with more than $300 million in sales.
Construction of the 60-story, 513-unit PARAMOUNT Miami Worldcenter and its unparalleled amenities is actively under way.
Occupying nearly 30 acres in the heart of downtown Miami, Miami Worldcenter is one of the largest private real estate developments under way in the United States. The 10-block project will include world-class retail, hospitality and residential uses in the center of Miami’s urban core. All told, the project is expected to account for $2 billion in new investment within downtown Miami.