Miami Real Estate

Did you know that Miami was merely a mangrove swamp before its development started, back in the 1920s? Or that its name comes from a Native American tribe that inhabited the area, who in turn got their name from Lake Okeechobee, which in the native language was called “Mayaimis” – meaning “Big Water”? You will probably be surprised to learn that the Magic City, the city of sunshine and incredible shopping, where more than 150 ethnicities coexist and over 60 languages are spoken, was once a favorite spot for pirates to come and hide their treasure. Miami is certainly a lot more than world-famous beaches, great shopping and exciting night life.

The once foreign-dominated real estate market, particularly the high-end market, where most of home acquisitions were done by wealthy Latino and European people, is now shifting to include more domestic buyers (especially New Yorkers). Actually, the entire world seems to have set sight on Miami.

The current average price for a home in the Miami-Dade area is approximately $261,400 and the average rent for an apartment is $2,120. This may be a good time to invest in a property in the Sun and Fun capital.

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