As someone with deep experience in the Miami real estate market, Samuel Strauch has focused on Trump’s immigration policies and how it could affect it. Founding Metrik Holdings in 2002, he is the principal of the company and keeps consistently apprised of how property is being bought and sold in the greater Miami region. When Trump was elected as president, Strauch has said that it generated the hope that real estate markets, including Miami’s, would be bolstered.
Samuel Strauch says that Miami’s real estate market has been doing very well in recent years regardless. Single family home prices had gone up 8.6% in 2016 while condos and town-home selling prices had also gone up as well by 5.5% compared to the previous year. The luxury market has been doing very well, Strauch says. People with a lot of money have been drawn to Miami over the years, especially Miami Beach. According to him, Fisher Island is the fourth most expensive real estate market in the United States. South Beach, Strauch says, was ranked by Forbes Magazine as the 11th most expensive zip code in the nation.
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One of the things that has been driving this growth in prices, Samuel Strauch says, is the desire of foreigners to own real estate in America, especially in Miami. Many people from Latin America want to own properties in the Miami area whether it’s as an investment or because they want to live there. Europeans are also drawn to Miami due to its year-round summer weather.
Samuel Strauch says that the immigration policy that Trump settles on will have a big impact on real estate markets. He says that unrestricted travel encourages investment in real estate while stricter immigration laws will do the opposite. This will have a really big effect on Miami real estate, in particular as about 70% of the real estate sold is bought by foreigners.
If stricter immigration laws are put in place, Samuel Strauch says that people can expect foreigners to invest their money elsewhere. He points to Canada as benefitting from tighter immigration in the United States according to behance.net. He’s especially hoping there is no change to the EB-5 immigrant investor program, where those foreigners who make a commitment to invest at least $500,000 will be given a green card for themselves and any family they have under the age of 21.
Find more about Samuel Strauch: http://www.realtor.com/realestateagents/Samuel-Strauch_Miami-Beach_FL__967574027