Miami real estate is here to stay. It's not a passing movement, it's not a bubble, it's not a fad. Of course it will have its ups and downs like any real estate market in the history of the industry, but there are exciting changes that make our city, Miami, the place to invest in NOW. We, as Miami REALTORS, embrace those changes, feel privileged to be witness to this amazing growth, and are here to help you, our clients, understand the reasons to buy and invest in Miami now. Miami is being called "The New Manhattan", the "next big tech hub", the "yachting capital of the world", just to name a few. Here are crucial points why Miami is growing in popularity, and why it's more than just a winter escape, but be warned, there will be a lot of links to support what we're saying. Be ready to click away, read and then come back to us ready to buy. We will help you determine where to buy according to your needs.
Miami as a Financial Hub
According to The Business Insider, Miami is already the 2nd most popular financial hub in the country after NYC and refers to Miami as a financial gateway to the Americas. Jennifer Odence from The Hedge IT Blog says that Miami is,
Currently home to over 60 international banks and 100 alternative investment companies, Miami and its busy Brickell Avenue has emerged as “Wall Street South,” and according to Forbes is luring many financial firms away from more traditional hubs such as New York and Greenwich, CT.
Miami as a Tech Hub
According to Fortune, Miami is making a different name for itself as a booming hub for technological innovation. From large-scale technology conferences, Microsoft's first U.S.-based “Innovation Center” in Miami, to start-up incubators opening up shop in Miami and organizations like the Knight Foundation who are investing in the build-out of the city’s entrepreneurial community. And what about the idea of Miami being a tech hub of the Americas? The Huffington Post tells us that,
The region in and around Miami has long pinned its financial fortunes on real estate and banking, but a combination of factors — the recent recession that shook those economic drivers coupled with an increase in cloud computing, the rapid growth of mobile devices in Latin America, and the area's vast health care industry — now have civic leaders and local entrepreneurs making a push to diversify into the tech industry.
And lastly, we've told you about Richard Florida, founder of the Creative Class Group and his views of why Miami is more than just a vacation destination. But Florida also tells us how start-ups are surging back in the urban cores of big cities including urban Miami. Richard Florida states,
The past decade or so has seen the region become a fantastic destination for arts and culture. The whole area is beginning to attract a new generation of talented people in their 30s and 40s, who are far less tethered to their jobs. Digital technology enables them to work from anywhere and they are choosing Miami. These people don’t just work in tech per se, they work in and are creating a wide range of businesses, many in the health and lifestyle sectors. Miami is really beginning to achieve in the lifestyle space.
Miami has lower taxes
Enough said, California and New York drive traffic and big businesses to Miami because of lower taxes, and Miami Today gives us examples.
Miami Shopping, Gastronomy and Culture
Art Basel embraces the artworld with the biggest international art event and has helped Miami's transformation into a cultural hub . And what about Miami as the Yachting Capital of the world? In addition to The Miami International Boat Show, The Huffington Post reasons,
Factor in 3,000 hours of sun annually, and it's obvious why this South Florida town would be the ultimate Stateside haven for a boat-up luxury lifestyle
And shopping is not just your regular shopping. In addition to Bal Harbour Shops (the most lucrative shopping mall in the world), we have Miami's Design District - a destination for luxury shopping and dining, headed by Craig Robbins, as well as Swire's Brickell City Centre. And talking about dining, we can't forget the celebrity chef scene in Miami - from Michael Schwartz to Top Chef's Jeff McInnis. And when it comes to museums, we don't just have the new PAMM, the list will impress you.
Miami as Top City in Wealth
Ocean Drive Magazine tells us why the world's billionaires re staying put, but most importantly, Miami makes it into Knight Frank's TOP CITY IN WEALTH report, and staying up there in their prognosticated next ten years. Miami was also identified by Forbes as best places for business and careers.
A lot of money is being dumped into Miami's infrastructure, from The Port of Miami in order to accommodate megaships from The Panama Canal, to The Port of Miami Tunnel just finished under Biscayne Bay. We're also seeing major work in Miami's expressways by The Department of Transportation. We can't forget All Aboard Florida, the high-speed train that will connect Miami to Orlando; Or Miami Central Station which will serve as Miami-Dade County's first all-inclusive ground transportation hub. An important city is nothing without a great airport and Miami International Airport is undergoing a $6.4 Billion improvement project. The City of Miami has also adopted a new zoning code guided by New Urbanism and Smart Growth known as Miami 21. Miami 21 is a form-based code whose goals are to create neighborhoods by the interaction of buildings and streets, it promotes a sense of place and encourages walkability and has high emphasis on making everything compatible through orientation and design.
Starchitects in Miami
This is one of the most exciting for me because in addition to seeing Arquitectonica all over the place, we started seeing well-known architects like Herzog & De Meuron in the 1111 Lincoln Road parking garage, then Frank Gehry in The New World Symphony, and the much-anticipated 1000 Museum by Zaha Hadid. But star power doesn't stop there, huge architecture names like Carlos Ott, Enrique Norten, Norman Foster, Rem Koolhas, Richard Meier....the list goes on and on and the projects are magnificent! All making our Miami even better than it is today.
Miami as Top Beach City
And I left this one to the end because it's sort of a "DUH" statement and it's the main reason Miami has the popularity it has - perfect weather all year round and makes National Geographic's Top Beach Cities List.
The Miamism Sales Team is ready to help you analyze your options in The Miami Real Estate Market and become your go-to REALTORS for everything Miami. Nothing more exciting than being involved in the beginning growth stages of a great Global City. Request a FREE market report or custom property analysis by contacting firstname.lastname@example.org or calling Ines directly at 305.206.9366
*originally published 9/24/2014*