A growing city for investments, excellent business climate. Florida also ranked #3 in the top 5 business-friendly states for those thinking of starting a new business. With strong economic growth, jobs, schools, and the city steaming with culture and the arts with the new Performing Arts Center, New World Symphony, and the Design District, Miami is a prime growing location. Not to mention our burgeoning Downtown Miami with its array of newly constructed state of the art buildings. Miami and the beaches are a favorite for tourists, South Americans, Europeans, and retirees. CNN calls it “One of the hottest zip codes”.
A central location in the Western Hemisphere with great linkage to Europe, Latin America, and the Caribbean.
Cultural Diversity of the people. Miami is the prototype of the international city of the future, thus attracting many Buyers from South America and Europe.
The Climate – 300+ days of sunshine yearly with annual average temp of 72 degrees
Future expected Real Estate appreciation rates, especially with the expected growth. Pricing in the Miami area is lower than in other cosmopolitan markets, such as LA, New York, and Chicago.
With 80 million retiring baby boomers, the majority seeking the sun, Florida is the number ONE destination. Florida’s urban mass could grow almost half in the next 15 years, according to new projections by University of Florida economists. Retiring baby boomers will fuel the expected population growth, an estimated 30% - an increase to 18.5 million from today’s 14 million. As population increases in the coastal areas, land will continue to become more expensive. “Florida and its beaches remain a popular place to spend the sunset years, according to Investors Business Daily about the Sun Belt being the ideal location for retirees.
Fabulous renowned shopping, entertainment, and international dining. It’s the “Magic City”, home of sophisticated nightlife, luxurious homes and apartments, fabulous restaurants and miles of beaches. Over 100 years of history with a fresh trend setting aura of a metropolitan international city.
Huge financial and banking district downtown – many call the Wall Street of the South.
Miami is one of the fastest growing cities in the U.S. and the second fastest growing county in Florida. The population is forecasted to increase by 37,000 persons per year in the next decade.
In order to meet the need for additional housing for this growing population for first, second, and vacation homes, it is estimated that 14,000 additional housing units will be needed per year.
One of the reasons is due to the lack available land left to develop, which causes dramatic price increases. This is evident in cities like New York, Chicago, and most European cities. This is happening in Miami as the inventory from the recent growth in development is absorbed in the upcoming years.
