FloridaInvestments: One and two-bedroom apartments in the large Blue Lagoon condominium complex in Miami will be offered to Irish investors at the Citywest Hotel, Dublin, this weekend by Wexford-based company Castleglen Properties.
Castleglen has 100 units costing from €244,000 to €290,000 to sell. The Miami developer of the complex, J Milton and Associates, guarantees to let units for investors for the first year. The complex - 10 minutes' from downtown Miami, according to Castleglen, and close to the airport - is designed for long-term rental by people who work in Miami.
Castleglen is offering investors a package that includes arranging finance, setting up American bank accounts, and completing legal work. Eighty per cent mortgages are available in Florida. Capital appreciation in Florida is good, according to the developer. Up to 12 million new residents are expected to move there over the next 30 years, with around 1,000 new people moving to Florida every day.
