The Covid effect has now affected almost every country in the world, including Florida. Wonderful, without a shadow of a doubt. But there is no shortage of problems, even in this land. Especially when it comes to real estate. Well, we at Realigro, today, want to share with you the changes in this country. Analysing the sector mentioned above. We will try to understand whether or not this is the right time to buy a property in Florida. Has the Covid effect, then, reached this sunny country in the soul too? Well, without wasting time, let’s find out together! Let’s get started!
To answer the various questions, let’s start with concrete and real data. According to the statistics, in fact, this would be the best time to invest in the local real estate. Especially when it comes to condominiums. This type of property in fact, unlike the independent houses that have increased prices, are reserving real discounts to those interested. Almost to anticipate the famous Black Friday. The perfect day for shopping lovers has apparently already started!
But let’s get into the details. The Miami market, which has always been one of the most evocative, has also reported business with a discount percentage of 25 percentage points. It is therefore not surprising that, in the last month, despite the pandemic emergency, the houses remained on the market for only 39 days. It should be remembered, however, that the available offer is -31 % on an annual basis. This means that many property owners prefer not to sell and wait for better times. Considering that the alternative would be for some people to sell the property. But all in all, the tendency to sell seems to prevail, in a climate of fear that generates a Covid effect even in Florida.
We are now trying to understand how Miami has positioned itself nationally. From the analysis of such an important city, one can understand the actual trends of the phenomenon. In general there are many contracts that have not yet been definitively closed. Many, in fact, have preferred to “freeze” the contracts to avoid taking the longest step. Also because not everyone is interested in condominiums. For this reason, the prices of independent houses have reached 43%. Moreover, a decisive turning point will come when the new President’s term of office effectively begins. As we had anticipated in previous columns, the election of one of the candidates would have determined totally opposite trends in terms of the national economy. Also and above all as far as real estate is concerned. Therefore, it will be necessary to update you in a few months’ time.
In conclusion, the situation seems to be optimal for those who wish to sign a contract of sale. But only if they are condominiums. For the rest, we advise you to wait before making such an important decision. In the meantime, we would like to give you some advice. Keep following us on our portal, to find out all the news related to the international real estate market. Every day you will find information on various sectors, without omitting anything, but nothing at all! And you, what do you think about the Covid effect in Florida?
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