Canada joins the ranks of the top countries for foreign buyers investing in local real estate. Homestead surges as the most undervalued neighborhood in Miami-Dade County. Miami Beach is both the hottest — and most overvalued — part of town.
These are some of the key findings of the 2017 Miami-Dade Real Estate Study, conducted by the polling firm Bendixen & Amandi International and the Miami Herald. One hundred of the area’s top brokers, agents and analysts were interviewed on the condition of anonymity from June 5-July 6 to create an honest and credible portrait of the current state of the county’s housing market.
This is the third year the Miami Herald and Bendixen & Amandi have partnered on the survey. In order to better reflect current trends, 40 percent of this year’s participants specialize in the mid-range market. Previous studies have surveyed experts in the luxury sector. Because of that shift, this year’s study cannot be compared strictly to previous results. Surprisingly, on most questions, this year’s responses mirrored those of previous surveys.
Here’s a rundown of some of the main takeaways of the report.
Where the hype is
Trendy neighborhoods come and go, but property values are what truly determines a worthy investment. Poll respondents agreed that Miami Beach is the hottest area in Miami-Dade right now, as well as the place where they would buy a condo or apartment. (Coral Gables was their top choice if they were buying a single-family home.)
But Miami Beach also took the No. 2 spot in areas where respondents would avoid buying altogether — Brickell was No. 1 — and Miami Beach was also voted the most overvalued neighborhood in Miami-Dade. (Brickell and Wynwood placed second and third.)
