Many condo buyers at Marquis Residences buy their condos as second or vacation homes, and it seems as if that trend is picking up across cities once devastated by the housing market crash.
The Wall Street Journal recently wrote an article highlighting many real estate markets that are on the upswing due to vacation home sales.
“The clouds hanging over upscale vacation-home markets are starting to lift. While prices are still falling in most regions, the luxury segment is picking up, and brokers are reporting more inquiries than they have had in years. The upshot: If you have the money and plan on staying put for the long term, now may be a good time to buy,” says the article.
The article highlights Miami as one of the hardest hit markets during the crash and why purchasing a second home in Miami now is so attractive to foreign buyers:
“Miami was among the biggest casualties of the housing crash, in part because a wave of speculative building swept through the market. But bargains are beginning to attract more foreigners particularly wealthy Venezuelans looking for a safe haven from President Hugo Chavez, says Michael Internosia, vice president of sales for Pordis Residential, a Miami based real-estate firm, who notes that such buyers made up 35% of his sales so far this year.”
Miami was recently voted the 8th best Luxury Vacation Destination in the U.S, which might explain why our condos are almost 70% sold, many of them to foreign buyers looking for the perfect vacation condo.
For more information or to schedule a tour of Marquis Residences, contact our sales center at 305.571.4000 or connect with Marquis on Facebook and Twitter today.







