In the second quarter of this year, home purchases by investors in South Florida jumped by 90%. Right now, real estate investors are crazy about Miami and Fort Lauderdale. In fact, Miami ranked seventh for having the most investor purchases in the country. As for Fort Lauderdale, it ranked 11th on the list. During the second quarter of 2021, real estate investors purchased 2,640 homes in Miami. Similarly, they bought 2,163 in Fort Lauderdale.
Before the pandemic, many people did not have as much money saved up for real estate investments. However, now they have extra income, and South Florida is a fantastic place to invest it. A lot of the recent investors in South Florida are coming from the northeast, Texas, California and Latin America. A lot of people have decided to invest in South Florida because it has a flourishing tourist scene. Other investors see homes in South Florida as an opportunity to rent it to locals. Others, see opportunities of buying properties and flipping them.
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