7 reasons to invest in Miami
Have you ever wonder why you should invest in real estate in Miami?
What makes it more special and better than others?
There are many reasons why Miami is the ideal place for real estate investors.
Take a look at the 7 reasons why:
1. ROI IS ONE OF THE BEST AROUND THE WORLD.
The most important factor when selecting a property, as investors know, is the yield rate from the real estate investment.
Thanks to the great demand on housing, Miami has an excellent investment return, such demand is fed by a group of people who prefer renting, which creates an opportunity for housing investors, whether renting or buying.
70% of Miami residents, rent. You might be wondering why. It is because mosto f the people have temporary or stational jobs. Specifically, tourism industry that employs more than 145,000 people.
Furthermore, housing offer is low, which increases the selling prices of properties, and generates more demando f renting housing, because it is less expensive than buying a house.
2. MIAMI IS FRIENDLY WITH OWNERS.
Miami is one of the few places that offers owners and real estate owners more liberty than most of the other states.
– Miami has no regulation on renting control.
– Miami does not have a limit for deposits.
– Owners are able to star an evacuation when a tenant is, at least, three days late. Most of the states state the a mínimum of seven days for executing evacuations when rent is late.
– Furthermore, recurring violations of the rental agreement allows an unconditional 7-day moving notice.
3. TOURISM IS AT ITS PEAK.
Another reason to invest in real estate in Miami, Florida is Tourism.
In 2019 Miami had a record of 15 million visitors, who spent $25 thousand millions.
Amazing, right? So, what does it mean for buyers and investors of properties?
Miami offers buyers of vacation houses, owners and investors a wide rang of opportunities for making money through tourism.
4. STRONG WORKING MARKET
In addition to entertainment, a loto f people move to Miami due to their job.
This city is not only the biggest urban economy in Florida, but it also has the 12th biggest GDP in USA per metropolitan area.
Thanks to its thriving touristic industry, its growing economy and a strong real estate market, the unemployment rate is at 3.9%, lightly under the national average.
5. THE CITY HAS A BIG POPULATION OF RETIRED PEOPLE.
Because of its excellent weather and vitality, Miami’s population grows every day. It is important to notice that the city has a great number of retired people and mosto f them come to Florida to live their retirement.
What does it mean?
Fluctuations of housing value rarely affect most of retirees, and because they have no reason for selling their houses, there are less houses for the property buyer market.
Obviously, it is known that without an offer, demand increases, so as prices of properties, and renting properties demand.
6. MI6. MIAMI HAS BEAUTIFUL WHITE SAND BEACHES.
One of the main touristic attractions in Miami are its beaches. Most of the people travel to the city only to spend a day on its amazing beaches. Some of them even decide to stay just for enjoying the beautiful view.
Furthermore, Miami is not only amazing and quit, but it also has one of the best weathers in the USA.
This explains why the city’s population grows by about 2% each year.
Obviously, a growing population eventually leads to greater demand for housing, right? And that’s good news for any investor.
7. IT HAS A STRONG INTERNATIONAL MARKET.
Statistics show that foreing citizens are more than half Miami’s population, which means that the city is absolutely friendy with immigrants. It is a main reason for Miami to be, still, attractive for foreingers.
There are a lot of reasons for which foreign investors are interested in the real estate industry at Miami.
• Some people think of an investment in a safe and promising market.
• Others, most of them expatriate, search for a new beginning or the American dream.
• Some prefer to buy an apartment that they use as vacation property.
Those are some of the 7 reasons why it is an excellent time for investing in Miami. Make the first move and contact us for your investment, learn about it. We advise you and answer all your questions.