In this article, we want to discuss the main points due to which the demand for real estate in Miami has recently increased. We will try to cover the topic as much as possible in a short article and provide you with the main benefits of purchasing real estate in Miami.
Of those who have ever been to Miami, no one remained indifferent. And for those who have not yet managed to visit this heavenly place, we guarantee you the best experience. People fall in love with this place at first sight.
Miami is not only about the best beaches in the world all year round, not only the most livable climate.
This is America, with its first-class service, outstanding quality of life and service, safety, and protection of your interests by the law (even if you are not a resident of the United States).
Plus Miami is no longer the same as it was 20 years ago. This is no longer just a resort. It is one of the fastest-growing cultural and business centers in the United States. With the opening of offices of the world’s largest companies, with the attraction of capital from all over the world, a rapidly developing infrastructure, and the construction of new housing. The most iconic projects in the United States at the moment are being built and opened here.
That is why more and more wealthy people prefer to buy real estate here. Or as a residence during the winter period, or with a desire to move to live in the United States, or as an investment of your capital in the most reliable and promising economy and currency in the world.
Reason number 1: Miami is one of the best deals in the world in terms of price/quality ratio
Miami is among the top 10 cities in the world. According to some independent ratings Miami is also among the 10 cities that are currently most attractive to wealthy people from all over the planet. Places on this list are ranked based on 4 key indicators: economic attractiveness, the standard of living, political environment, knowledge, and influence. Plus, the survey takes into account the number of the aforementioned wealthy people and every property in the city.
Below you can see this list. The detail also included the average cost per square foot of real estate in each city, so you can compare these world capitals in terms of price/quality:
- 01 London – $ 5,000 per square foot
- 02 New York – $ 3,000 per square foot
- 03 Hong Kong – $ 4,500 per square foot
- 04 Singapore – $ 1,500 per square foot
- 05 Shanghai – $ 2,000 per square foot
- 06 MIAMI – $ 800 per square foot
- 07 Paris – $ 4,400 per square foot
- 08 Dubai – $ 1,500 per square foot
- 09 Beijing – $ 1,500 per square foot
- 10 Zurich – $ 3,000 per square foot
From the list presented, it can be seen that Miami, which is in the middle of the list of the most attractive cities in the world to live in, today has the lowest real estate value. With an appropriate level and quality of life in Miami, you can buy real estate here 2-6 times cheaper than in other world capitals.
This is a guarantee of constant growth in the value of the real estate. This means that now you can buy real estate in a city that is included in the top 10 best cities in the world at the lowest price. And it also provides opportunities for investing your capital, because the value of real estate here will only grow in the coming decades.
Reason number 2: A large community of residents of the former CIS countries.
Miami at the moment is one of the most popular among foreign buyers in real estate places in the United States for living and investing their capital.
The Miami Association of Realtors provides the following statistics. Florida (the state in which Miami is located) ranks 1st in the number of real estates purchased by foreign citizens. 25% of all foreign buyers buy property here. And in Miami, most of them.
The fact remains that it has become easier for representatives of the former CIS to acquire real estate in the United States, and an increasing number of buyers choose Miami. According to analysts, the number of purchased real estate increased by 35% compared to previous periods.
Some clients are mainly interested in the luxury real estate market in Miami. Most often, citizens of different countries buy real estate in such “areas” of Miami as Bal Harbor, Sunny Isles Beach, and Fisher Island.
One of the best places is, of course, Sunny Isles Beach. 9% of all purchases in this area are made by our compatriots. This information is confirmed by the population census.
What does this mean for you?
Miami is the best place to buy real estate in the United States for initial adaptation when moving to the United States or an extended winter vacation on the best beaches in the world. Because it is here that there is one of the different communities of people which are attracted by the natural endowment of Miami.
Reason number 3: Miami of the future is the largest business center in the United States
As we wrote above, Miami is no longer just a resort. Today it is one of the largest international business centers in America. According to analysts, by 2020 Miami will be one of the most economically successful metropolitan areas in the United States.
Let’s take a closer look at the question:
- Miami is already ranked 2nd in the ranking of the US megalopolises with the fastest growing economies.
- Miami attracts investors through a flexible taxation system for both individuals and legal entities. By living here, you will not be subject to personal income tax. And also there is no so-called luxury tax.
- Due to its location, Miami has certainly become a center for attracting investment from Latin America. About 1,500 international corporations have established offices in Miami.
- More and more TOP 500 corporations are moving their headquarters (along with employees) to Miami from other US cities. And the climate is better and the real estate is cheaper. Cheaper so far.
- And in terms of the number of large international banks, we are only behind New York.
- It is also important that Miami is the largest transport hub: 15 million visits, 41 million flights through Miami, 5 million cruises, 75 foreign consulates. This makes the city the “tourist capital of the world”.
What can these dry numbers mean to you?
First, now you can buy real estate here at the lowest price. And this price will only grow with the passage of time and the development of the city. By making your choice now in favor of Miami, you will receive an asset that is constantly growing in value, and you will become the owner of real estate in this corner of paradise with minimal investment.
Second, along with the development of the city, of course, the infrastructure also develops. New housing, roads, theaters, museums, sports arenas, and much more are being built. The city is transforming right before our eyes. Locals say Miami has changed beyond recognition in 20 years.
Third: along with the economic development of the city, the level of service(s) is also growing. This means that you will receive perhaps the best service possible at the moment in the world.
And last but not least, these are opportunities for doing business or work with permanent residence here. After all, the city is in a stage of active growth, which means that there are always opportunities for entrepreneurs, and for those who are building a career, there will always be work in large companies.
Reason number 4: Miami is the perfect climate for living and relaxing
Most property buyers opt for Miami due to the near-ideal climatic conditions. Here you will find a tropical climate with an average temperature of + 23 degrees.
And all this on almost 150 kilometers of the Atlantic coast, warm all year round, the world’s most famous beaches and a huge area of bays and other bodies of water. It is almost always possible to choose a property with a view of the water, wherever the building is located.
Miami is the cleanest city in America. Florida, in which Miami is located, has no industrial pollutants at all. And this guarantees you and your family environmental safety and clean water and air. You will be surrounded by the Atlantic Ocean on one side and national parks and reserves on the other.
Yet Miami is beautiful not only for its natural resources. For the beauty of architecture, the city is ranked 3rd in the United States and 18th in the world.
Miami is a city on the water, a city of white buildings and luxurious yachts, blue waters, green palm trees, and an ideal tropical climate. Just heaven.
Reason number 5: Miami offers first-class surroundings and entertainment for all tastes.
Naturally, given these opportunities, Miami quickly became a global entertainment center. And the proof of the attractiveness was the following fact: most of the world stars of show business, sports, politics, and business have acquired real estate in Miami. By buying real estate for yourself and your family in Miami, you are creating a new first-class environment.
In Miami, you will find entertainment for all tastes. All kinds of water sports: snorkeling, sailing, diving, boating and yachting, fishing. Various sporting events, theaters, museums, art galleries, and exhibitions all year round. Every day you can find something that suits your taste.
The important points for your family when choosing a place to buy real estate are, of course, medicine and education.
The best schools in the USA are represented in Miami. The city ranks 4th in terms of the number of schools in the country. Plus 5 colleges and universities and 3 law schools. You will also find a first-class level of medicine here. Some of the hospitals are leading in the United States. And also private medical centers are at your service.
Miami is a culinary paradise. Here you will find the world’s most famous restaurants with dishes from all over the world. And for lovers of nightlife – the best nightclubs, with a constant daily supply of world-class stars. Shopping lovers are also lucky. You will find a huge number of shopping centers with collections of the world’s leading brands. In addition, the most famous modeling agencies are based in Miami and Fashion Weeks are often held.
Well, in Miami, a city of activities, you can always go on a cruise from the world’s largest port, visit the countries of Latin America or exotic islands. There is always in Miami a lot of exciting places to visit and this makes the city a spot for real estate investors. The standard of living, economic growth, and natural endowment of the city guarantee constant attraction of wealth and people to the city which unarguably ensures a good return on investment for real estate investors who buy or invest in Miami. You may try it out today.