Miami has grown considerably in the Real Estate market not only for its incredible collection of waterfront property but its shopping and nightlife. Foreign investors spent nearly $7.1 billion on South Florida homes last year. The leading countries were Argentina, Venezuela, Canada, Colombia and Brazil.
Based on the Miami Association of Realtors, here are some of the reasons to visit and buy in Miami:
- The city is a top Market for International Buyers in Florida. It is the top state in the U.S. and Miami is the top market for international buyers.
- Miami is the only major city in the United States bordered by two national parks The Everglades National Park and the Biscayne National Park on the East.
- It is the Most International City in the United States with nearly 50% of population is foreign born and speak over 100 languages
- It has a desirable Weather being the only major “subtropical” city in continental U.S. with average temp. 75 ºF / 23 ºC
- The city has one of the most beautiful beaches with 84 miles of Atlantic Ocean coastline and 67 square miles of inland waterways and more than 15 miles of world-famous beaches.
- The city is famous for its fabulous nightlife in places like Ocean Drive, Lincoln Road and a variety of top restaurants, night clubs, bars etc.
- In the entertainment industry, there are major fashion centers. Most of the top modeling agencies in the world, Fashion Week and more than 2,400 motion picture and video businesses
- In regard to Commercial and Investment Real Estate, vacancy rates for all commercial sectors in Miami are below the national average; retail and multi-family are outperforming most major markets in the U.S
- The city is a Global Business Center for business, finance, commerce, media, entertainment, arts and international trade and it is also home to nearly 1,200 multinational companies from 56 nations. There are more than 100 international consulates, trade offices and bi-national chambers of commerce
For all those reasons, Miami will continue to be a top destination not only for tourists but also for investors. Whether you are considering investing in Downtown Miami, Miami Beach, Coral Gables, Brickell, the Miami real estate market is doing exceptionally well.
There is always a real potential to make it big, right under the sun so. Therefore if you need more information on how to invest in Miami, I will be more than happy to help you!
Tury Cespedes, MBA, Realtor Associate
Century 21 Dorar Realty, Miami, Florida
Member of the Luxury Homes Institute