Miami Condo - 2019 - Price going lower?

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Hi All,

I am looking for some help. I want to purchase my first investment property in the US, currently I reside in NYC - Manhattan but unfortunately the condos in Manhattan are at crazy prices (well out of my budget). I have noticed that the condo market in Miami is slightly on the decline due to the stronger US dollar (Putting off overseas investors) and a rather large oversupply in the market (around 24 months worth from what I have read). I wanted to get your feedback / views on the Miami condo market.

- The average price per SQ for Miami condo's sit around $400 now, some are speculating that this will even go lower in 2019 potentially around $350-$360 per SQF?

- What is the typical yield for Brickell / Downtown area?

- Are there any other charges apart from the monthly tax and maintenance fee's?

- I was told by a realtor that rental income is around $2.90 - $3.00 per SQF, is this true? So a 700SQ condo would rent for around $2,100?

- Are there any hidden fee's that an investor should be aware of? Insurance?

Apart from Miami does anyone have any suggestions what other areas would be potentially viable for investment?