Miami Beach Real Estate Expected To Underperform In 2017
The Miami Beach real estate market will be challenging in 2017, according to both Business Insider and Mansion Global. Both sources report that there is too much inventory on the market, especially condominiums. According to Business Insider, it could take three years before the current glut of properties for sale is finished. Due to this, some sellers are taking their properties off the market and are instead turning them into rentals, or are just deciding to stay put for now.
The upside is that the area continues to see population growth. Eventually, properties in Miami Beach will start swinging upwards again as more people enter the area and competition for homes on the market gets tougher. Additionally, the pace of new condominiums being built has sold which will eventually lead to a better balance of supply and demand.
Samuel Strauch is a person who has a wealth of experience in the Miami Beach real estate market through good times and bad. He has been able to successfully navigate the real estate market as the Principal of his real estate firm, Metrik Real Estate. Samuel Strauch’s leadership of the company since 2002 has led it from being a small, local business into one that is far larger and one that has a reach in to countries throughout Latin America.
Samuel Strauch is a graduate of Hofstra University where he earned his business degree, as well as Erasmus University Rotterdam where he majored in International Finance and International Marketing. Samuel Strauch has the education and experience to successfully grow his company and help clients even when the real estate market hits rough patches. He continues to have clients in Latin America that are eager to purchase properties in South Florida.