Endless summer weather, warm beaches year-round, nature decorated with palm trees and sparkles reflecting the sun on the water combined with cosmopolitan atmosphere and Latin culture makes Miami one of North America’s most visited cities. Its exuberant lifestyle, picturesque identity and expanding economy are full of options for all tastes that attract not only tourists but businesses and investors from all over the world to Miami.
Miami has emerged as a pioneering restaurant destination with the help of renowned chefs, top hotels, world-class shopping, art and culture. Miami is now one of the busiest gateway cities in the world and will remain a top destination for investment in business, tourism and real estate. The following reasons enunciate why investing in Miami via top real estate firms is a good idea:
A global city
In addition to being a fun-in – the-sun holiday destination, Miami is bursting with its multicultural atmosphere and multilingual community with a major influence from Latin America. While this quality can be seen in the quaint cigar shops, cafes, and restaurants lining Little Havana’s streets, it is also an incentive for entrepreneurs, tech start-ups, and multinational companies to settle in Miami. These wildly successful innovators create jobs that promise the city’s ongoing economic growth. In addition, Miami is easily accessible from most American cities, major European capitals, by direct flights, and is only a stone’s throw away from Central and South America.
Miami is experiencing a cultural Renaissance in which many public and private organizations are investing millions of dollars in the city’s arts and cultural growth. Miami Beach hosts several international events such as Art Basel and Design Miami, the Miami Book Fair and the Miami Film Festival, which help to raise awareness of its cultural potential by connecting visitors and locals through an arts and social exchange platform.The Miami lifestyle attracts global investors. The city offers exciting cultural developments, galleries and museums, including the Pérez Art Museum Miami (PAMM), the Patricia and Phillip Frost Museum of Science, and the Adrienne Arsht Center for Performing Arts, as well as art and design exhibitions, including the renowned Art Basel. Moreover, Miami International Airport is the second busiest airport for international travelers in the country, making it easy and convenient to travel around the world.
High standard of living
One-of – a-kind, lavish residences complement the rich local culture of Miami. Investing in a home must include living in that space experience. Because Miami is compact, you’re just a short drive away from the best entertainment, culture and gastronomy in any given neighborhood. In Miami residences, Defortuna sees the immense values, citing the impressive Missoni Baia.
Missoni Baia is a 57-story luxury condominium in the popular Edgewater neighborhood of Miami, rising along Biscayne Bay. Located in the nexus of Downtown Miami, Wynwood and the Design District, the residential enclave appeals to investors because it is surrounded by luxury development on all sides, yet is a relative bargain in comparison, with top-of – the-market pricing a fraction of the price of a comparable product on Miami Beach. The building is the first-ever branded residences from Missoni, the legendary fashion and design house.
Stable demand for properties
Miami’s diverse neighborhoods offer something to suit every taste; it will therefore continue to attract wealthy buyers and high-net worthy individuals from around the world.In addition to the investment market, which typically seeks properties offering rental income potential, there is also a large population of end users looking for a second, third, or even fourth home. These buyers are extremely discerning and require a high-quality product offering outstanding design, spacious residences, and thoughtful amenities and services. Although there has been a slowdown in Miami’s luxury real estate market, high-end properties are still selling at a healthy pace, and we expect the market to continue to grow.
Affordability and flexibility
High-end investment values in Miami have only increased over the past year and will continue to do so in the foreseeable future. Because Miami is an up-and-coming city, investors have access to a range of opportunities. The traditional investment market offers rental income potential to properties. Loosened credit standards, reduced down payments, and unpaid income tax benefits make this market particularly affordable.
The federal tax reform law that entered into force in 2017 has adversely affected many investors, particularly in the high-end market. However, this law does not apply within the state because Florida has no income tax. This incentive has driven many high-net worth individuals to purchase in Miami from top real estate companies, where prices are affordable, and neighborhoods are on the rise.