Miami is located in the Southeastern side of Florida and is a truly blooming city. It remains one of the first cities in the United States that was able to recover from the recession with the help of real estate. In 2013, Miami International Airport has received over 40 million annual visitors, most of them international tourists, making it the most visited city in the country.
” Miami has ranked 6th on The Wealth report 2015 by knight Frank”
1) A PLEASANT CLIMATE
All year round, tourists and visitors come to enjoy the warm climate and gorgeous beaches and waters (84 miles of Ocean coastline & more than 15 miles of beaches). Kilometers of fine sand, average temperature of 75 ºF / 23 ºC and a young, dynamic atmosphere.
2) AFFORDABLE PROPERTIES
Since the financial crisis in 2008, the Miami real estate market offers great value for your money and property values continuing to rise. Also, a weak U.S. dollar gives greater discounts for foreign buyers.
“Miami Real Estate is 50% more affordable in the last five years; ”
“The median sales price in the Miami-Dade area is roughly $400 / sqft.”
3) TOP REAL ESTATE MARKET FOR INTERNATIONAL INVESTORS
The South Florida real estate market remains a prime target for foreign investors. Florida is the top State in the U.S. and Miami is the top market for international buyers. A recent report indicates that Canadians are Florida’s number one foreign buyer of real estate, along with South American buyers and emerging interest from Asia.
“The main Buyers in Miami and Miami Beach are from Canada, Venezuela, Argentina, Brazil, Colombia, France, and Peru.”
4) NEW DEVELOPMENTS
Miami is about to experience the biggest boom in the city’s history. In the upcoming years Miami’s skyline will change tremendously. Ambitious and creative real estate new developments are being built at the moment. More than 200 projects are currently proposed, under construction or planned.
Brickell City Centre and Miami World Center are the largest projects in the United States, featuring a diversity of urban land use, including retail, hospitality, and residential space.
5) Other Reasons
- Florida has no state income tax
- Florida has no state death tax or estate tax
- Florida offers property tax benefits for a primary residence
- Miami has the largest concentration of international banks in the U.S.
- Nearly 50% of population is foreign born & speak over 100 languages
- Miami’s skyline ranks third in the U.S. behind NYC and Chicago