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Miami Real Estate is among the most valuable in the world. Miami, Florida has been growing in terms of importance for the last two decades. When people talk about Miami, what usually comes to mind is South Beach with its great year-round weather, gorgeous beaches, pulsing nightlife, top restaurants, Lincoln Road, and Ocean Drive. However, with the recent development north of South Beach and the addition of 23,000 condos in Downtown Miami over the last 10 years, Miami is becoming more and more gentrified, making it an increasingly fitting place to have either a permanent residence or a second or third home. The brightest spot in the Miami market is Downtown Miami, which is finally becoming a vibrant city in and of itself. Miami Beach has gone upscale, making it one of the most luxurious destinations in the world, and making Miami Beach Investment Property for sale a very hot commodity.
We are here to show you not only why you should invest in Miami real estate, but also how to do it successfully. From initially browsing Miami real estate listings to closing the transaction to managing the property, to selling the property, we help our clients every step of the way. High Net Worth Individuals (HNWIs) and Ultra High Worth Individuals (UHNWIs) are increasingly investing in Miami Beach properties and Miami luxury real estate. Our first-class, comprehensive service is why locals and foreigners alike choose us to help them with one of the most important financial decisions of their lives. Our role as a trusted advisor continues well past the initial purchase, as we will often manage, market and sell homes and properties for our clients.
Miami property investors are driven by several primary goals. They want, initially, to preserve their capital and wealth, and then to grow it. Many successful business people and others make the most of the stock markets' recent explosion and the Latin American countries' commodities boom to diversify their portfolios. Miami real estate is the obvious way to do this while, at the same time, preserving and growing that wealth.
Investors also purchase Miami homes for sale for other specific reasons. They want a primary residence to give them and their family a delightful place to live while maximizing tax benefits. They want a second or third home for weekend and vacation fun. They need a pied-à-terre of their own for when they attend business meetings and conferences, or simply for when they must be onsite to fulfill their executive responsibilities.
EB-5 Visa Program
An excellent reason for foreign investors to look for houses for sale in Miami is that the EB-5 Visa Program has been extended. This program enables an investor and approved family members to achieve Green Card (permanent residency) status by investing at least $500,000 in an approved job-creating project. There are a number of approved Targeted Employment Areas (TEAs) in Florida, including the City of Hialeah and Miami Gardens City. Purchasing a beautiful home in Miami, maximizing capital, and achieving permanent residency will be perfect goals for many investors. US-based and foreign investors see Miami luxury real estate and Miami Beach condos as perfect routes to deliver on their financial and personal goals.
Miami's economy is vibrant and growing, and is America's second fastest growing metro area.
Tourism, logistics and financial services are strong economic drivers outpaced only by construction. Miami is also becoming a major center for TV production and music recording and is the largest Spanish-speaking media production center in the USA. Miami has more foreign banks than any other major city and is home to more than 1,400 Latin American corporations.
FDI Intelligence ranks Miami as #9 in major American cities of the future and #3 in foreign direct investment strategy. Miami's export trade exceeds $33 billion.
Average population in the Greater Miami is set to increase by 1.2% demanding appropriate business and real estate supplies to cope. Job growth of 1.7% is expected while unemployment rates in June of 2018 were only 3.8%. GDP continues to grow, with a 2018 forecast of 2.2%, standing on 2017's GDP growth of 2.7%. (CBRE Residential Living 2017) and UBS ranked Miami as the world's 4th richest city based on purchasing power. "The Next Miami" puts the city at #11 in America's urban GDP producers.
Miami is the only major American city to have been founded by a woman. Julia Tuttle persuaded Henry Flager to extend his railroad from St. Augustine to the town, and in 1896 400 citizens voted for incorporation.
Miami's broad ethnicity makes it the third most-used port of immigration in the United States. 34.1% of all residents are Cuban but they make up 54% of the Hispanic population (Pew Research) and in total, Hispanic residents account for about 70% of the population.
The city is amazing. It has 800+ public parks enabling and encouraging walks, family picnics, hiking, fishing, and bicycling to name a few. Miami is the only major city bordered by two national parks (Biscayne National Park and Everglades National Park.)
Miami International Airport (MIA) is America's 2nd most important airport for international travelers welcoming over 23 million last year alone, and handling about 70% of Florida's international traffic.
Florida ranks #1 in the nation for higher education. Miami has 46 universities and colleges, including the University of Miami, Florida International University, and Miami International University.
In comparison to other global cities, Miami real estate prices are low. With luxurious Downtown Miami apartments for sale at $640 per square foot and Miami Beach luxury condo prices at $1,426 per square foot, the luxury segment, which is comprised of the top 10% of sales in their respective markets, Miami prices are a fraction of those in cities like Hong Kong, New York, Paris, Rome, Los Angeles, etc.
ISG's 2018 Report on Miami real estate gave some very positive data. Downtown and beach condos have appreciated on average 9% a year since 1993. In April 2018, 83% of all condos on the market had sold putting developers in a "close-out" mindset and looking forward to their next project. Condo rental numbers will also please investors because the average condo vacancy rate between 2006 and 2017 was only 3.35% in most Miami neighborhoods.
The UBS Global Real Estate Bubble Index shows the Miami real estate market in a very good light. Add to that the current Miami economy, GDP and growth forecasts, and we see that Miami is both a comparatively low cost and a safe place for portfolio diversification, rental property purchases, and to buy a personal residence.
UBS says, that on the world scene Toronto, Sydney, and London are overvalued, and that Paris, San Francisco and Tokyo are what the index refers to as "stretched." It says New York City's luxury real estate is fairly-priced. Miami, as the following numbers show, is very well priced. It is little wonder that Miami is America's #1 target for foreign real estate buyers, and four out of five of the top foreign nationalities buying are Latino.
DOWNTOWN MIAMI IS EVOLVING INTO A 24-7 WORLD CLASS CITY
Downtown Miami is finally becoming relevant as it evolves into an entirely new city with a landscape of cutting-edge skyscrapers. In fact, Downtown Miami is now emerging as one of the country’s fastest growing urban centers, the product of significant increases in population growth and commercial activity over the past two decades.
Not only is Downtown Miami undergoing a renaissance, Miami Beach, one of the nation’s pre-eminent waterfront resorts in the world, has become decidedly upscale. For nearly a century Miami has been a second-home choice for the rich and famous, first with its waterfront mansions and more recently with a breath of Miami Beach luxury condos. Over the last ten years, a huge transformation has taken place on Miami Beach, most notably, north of South Beach all the way to Fort Lauderdale. This transformation has made more of Miami Beach (and its environs) a great place to have a permanent residence or a second or third home.
As is well known, Miami Beach attracts a very international crowd, so property prices are generally much higher on the "The Beach" than in Downtown Miami, since demand is more international and supply is constrained. For instance, the Faena penthouse sold for $60 million on Mid-Beach, whereas one can find a 1 bedroom at luxury development Icon Brickell in Downtown Miami for under $400K. Accordingly, Miami has options for everyone, but Miami Beach targets a more affluent crowd.
Areas north of South Beach have developed such that they are now viable alternatives to owning in South Beach. Take, for instance, Mid-Beach, which has added a number of great oceanfront properties such as The Edition and Faena, which has an entirely new neighborhood called the Faena District.
Farther north, Bal Harbour Real Estate has regained its standing with the addition of the new gorgeous condo development on the last stretch of Collins Avenue. In addition, the ultra-luxurious St. Regis Bal Harbour Hotel and Residences opened in 2012. Neighboring developments 5 minutes south like the Four Seasons Surfside, Oceana and Fendi Chateau have increased the whole area's profile.
Finally, even the area north of Bal Harbour has become a viable option for many with the addition of some of the most cutting-edge buildings in South Florida, such as Jade Signature by Herzog and De Meuron, Muse, Armani Casa Residences, Aqualina, Porsche Design Tower. These unique towers have all added cache to the area as a whole including Sunny Isles, which was once no mans land. Even Fort Lauderdale has seen a surge in luxury development with the addition of Four Seasons Fort Lauderdale Hotel and Residences, Paramount Residences and Auberge Beach Residences & Spa.
Relocating can be both exciting and stressful. With our help, our buyers research potential areas, explore them in person, and choose both the right neighborhood and the right property for them, whether it he a Miami Beach house or Miami condo. In this guide you can learn the most important things when moving to Miami.
Our local contacts will assist you with all the practical steps, and to make sure your new home is prepared for your arrival.
How We Can Help
We have discussed why Miami is a "first choice" location to live in, invest in, and to maximize income and capital growth opportunities. Miami is a magnet for real estate development, Your Real Estate Miami search begins and ends with us. Our expertise, detailed knowledge of every neighborhood, development, and the home-buying and home-selling processes are everything you need. Our experience is not only in Miami luxury properties, but it is in working closely with global clients.
You want success - We deliver it!
