Miami condo development proves popular with Brits

Friday, July 08, 2011

Miami condo development proves popular with Brits

A number of Brits have reportedly bought property in The Marquis Residences, a major downtown Miami condominium featuring 292 luxury homes.

The developer, Africa-Israel USA, has upped its marketing spend in recent months in a bid to attract more international buyers, including Brits.

The development is now 70 per cent sold, including all of the one and four bedroom homes, leaving just two and three bedrooms available for sale. Two bedroom condos start from £370,000.

Condo sales have notoriously plunged in the USA in recent years, as a consequence of the global recession. But with cheaper property prices and a weakening U.S. dollar, the USA property developer is successfully enticing more foreign buyers.

Purchasers have reportedly come from the UK, along with Russia, China, Greece, Switzerland, Italy, Spain, Turkey, South Africa, Iran, Singapore, Brazil, Venezuela, Mexico, Ecuador and Columbia.

“Working with local brokers that have brokerage relationships in South American and European cities has proven effective,” Lori Levine Ordover, managing member of the Ordover Group, a consultant for Africa-Israel USA, told MHN. “We also have an app for the iPad that allows international buyers to easily see the views from the condo they choose, as well as Marquis amenities, from anywhere in the world.”

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