Pinecrest Market Report
Pinecrest is one of the most beautiful and sought after residential areas in South Florida. The Village expands on eight square miles, East of US1, near the coast, located south of Downtown Miami and minutes away from the Miami International Airport.
The Best schools in South Florida are within miles of Pinecrest, attracting local families as well as the Expatriate community moving from abroad, and from out of State.
It is a fact that the strong Dollar has affected the Currency for Latin American Buyers from Brazil, Argentina and Venezuela and Sales have slowed down. However, Buyers continue to come from Canada, Europe and Asia.
24% of Closed Sales in Miami are International.
21% are from out of town and out of state. The advantageous tax situation has attracted buyers from all over the US, mainly the East Coast.
The tax advantages include homestead exemptions and the absence of state income tax attracting many.
The fun-in-the sun lifestyle is also a draw!
The strong demand for Real Estate in Pinecrest is making the Village more Exclusive. Constructions are constantly improving with new and luxurious homes. The older houses are being replaced with multi-million dollar properties increasing the overall Value of Real Estate.
The space also plays a role – the acre lots allow oversized Properties, making this neighborhood even more attractive so close to Downtown.
Pinecrest has been on a growing trend ever since it has been incorporated in 1996, and there is no reason for this to change in the next years.
This a highly profitable area to invest in, both for residential needs and investment purposes.
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