9 reasons to invest in Miami Real Estate
As an incredibly dynamic and beautiful city, with year-round sunshine, palm trees and water views, Miami is truly a paradise. It is also a world leader in commerce, culture, media, entertainment and the arts as well as being a financial center for international trade.
Miami has a mystique that draws people from across the world in promise of its endless energy and excitement. The city is always awake and always ready for the next big thing!
The state of Florida is soon set to surpass New York in population with over 2.6 million residents as well as attracting almost 14 million visits every year. According to the Miami Association of Realtors, Florida is NUMBER ONE destination for foreign investors in the USA.
Let’s look in detail at why Miami is the perfect place to invest:
1.Political and economical situation in the USA (stable and safe unlike in Europe)
With uncertainties in Europe caused by the EU and Brexit, as well as unrest in parts of the Middle East and Africa, the USA is a safe and stable place to invest, where you can be sure your investment will grow consistently in value.
2. Miami is a center of a worldwide business
- With over 75 foreign consulates and more domestic and international banks than anywhere south of NYC, including 21 foreign trade offices, Miami really is a business center like no other.
- The city is headquarters to thousands of multi-national and international companies.
3. N1 Tourist Destination in the USA – capital tourist of the USA – Miami’s hotel industry ranks among the best in the world. visitors with more than 12, 5 million hotel rooms booked each year.
- With a hotel industry ranking among the best in the world and over 12.5 million hotel rooms booked every year, Miami is the tourist capital of the USA. There are a constant stream of tourists looking for apartments and holiday homes.
- In the heart of Miami is the Port of Miami – the number one cruise terminal in the world.
Welcoming near 5 million passengers annually. The port will become even busier and will attract even more tourists with the expansion of the Panama Canal.
Miami International Airport is less than 5 miles from Edgewater and serves more than 39.5 million passengers each year. It is the 2nd leading international gateway to the U.S. following New-York city’s J. F. K. Airport. It is possible to travel just about anywhere both nationally and internationally from Miami.
In 2016, All Aboard Florida a state-of-the-art passenger train will join Florida’s major urban cities with stops in Fort Lauderdale and West Palm Beach.
At speeds of up to a 110 miles per hour it is possible to travel from Orlando to Miami in just 3 hours, making this one of the fastest train lines in the USA.
5. Cultural Developments
With more than 5 billion dollars in recent, current and planned development, Miami is set to become the top cultural and entertainment destination in the USA.
- Adrienne Arsht Performing Arts Center designed by Cesar attracts more than half a million visitors annually.
- The 29 acre Museum Park is set to become a signature escape from city life.
- A newly opened $220 million Jorge Perez Art Museum welcomed over 150,000 attendees in its first four months.
- The $275 million Patricia and Philip Frost Museum of Science will inspire a quarter of a million visitors every year.
- The American Airlines Arena – home of the Miami Heat, hosts hundreds of events and attracts more than 3 million guests each year.
6. Affordable Prices – it costs on average ~ 30% less than Real Estate in New York or LA
- When looking for an investment location, it is important to find somewhere where your initial investment will be reasonable, yet will rise consistently.
- Miami performs similarly to both New York and LA, but has initial investment costs of approximately 30% less than both detinations
7. Excellent Returns on investments. Banks offer <2% returns on your investment, whereas real estate offers from 3%-15% returns
- Storing your funds in a bank account generally yields interest rates of less than 2% and this isn’t looking to improve anytime soon.
- By investing in real estate, you can look forward to consistent returns of anywhere between 3% and 15% every year.
8. No income taxes
- Looking to live and earn in Miami? Florida imposes a 0% income tax rate on its residents.
- Florida’s tax rate is fairly unique and one that very few places worldwide enjoy. In fact, it is the only place in the world that combines a non-existent income tax rate with fantastic investment opportunities.
- This means that whatever you earn, both nationally and internationally will not be taxed whilst you are resident in Miami.
- This leaves you with more money to invest or play, checking out many of the awesome locations and entertainment venues throughout Miami.
9. The perfect lifestyle
- Living in Miami is literally living the dream. Forget the rain, forget wind and snow. In Miami there is sunshine year round.
- Enjoy visiting the beaches, the fantastic night life and the many attractions all year round.
- Thousands of outstanding places to dine, meaning you can enjoy eating out and trying different cuisines as often as you want!
- If you are looking to live the “beach lifestyle” and constantly feel relaxed and as if you are on holiday, they Miami is the PERFECT place to live, spend time and invest.
There really has never been a better time to invest in Miami property. Whether you are looking for a sleek modern condo or loft with all the conveniences and amenities or a Mediterranean Revival inspired single family home, Miami has it all. There are countless opportunities for real estate investment, both residential and commercial.
Miami is now in the early stages of an economic expansion – so don’t miss out on the opportunity to invest in Miami real estate and become part of the Miami lifestyle!