The economic strength of the United States always highlights the country as one of the most striking nations to make real estate investments; and the cities of Florida in particular are very attractive to Latinos thanks to their projection and growth.

The diversity of job opportunities, their location, size, infrastructure projection and cultural diversity are sufficient reasons to invest there. These factors are consolidated with the legal and social security that enhances the valuation of real estate.

Next, we want to tell you which are the main cities in Florida in which it is recommended to invest in real estate and the reasons for doing so.

Florida Cities: For Real Estate Investments

Fort Lauderdale is home to the largest multifamily housing developments; thanks to its beautiful beaches and its ideal climate throughout the year. It is known as “The world capital of yachts” and from its ports depart the two largest cruise ships in the world. In addition, it has a commercial infrastructure enviable by any city (El Espectador, 2014).

Orlando is the sixth largest city in the state of Florida. There are the main amusement parks and resorts that ensure their occupation all year round. In addition, it has exclusive golf courses that are the delight of all its visitors (Turismo EEUU, n.d.). Coral Gable and Doral are neighborhoods of Miami that shine for their advantages and cosmopolitan atmosphere. In the first, its luxurious constructions that adorn its wonderful ocean view stand out. The second is characterized by its centrality to business centers, making it ideal for family housing. Sunny Isles Beach is a beautiful beachfront community, with quiet, discreet and harmonious environments; It connects with the city through Coral Gables (Enjoy Miami, n.d.).

Miami

Miami’s real estate market offers profitability, dynamism and economic strength. Its proximity to the Latin American market positions it strategically to do business. And the planning of its infrastructure ensures the competitiveness of real estate projects.

Miami’s urban growth ranks second in the United States, after New York. The latest reports indicate that 900 people move to this city daily, from other countries or states; and of those, approximately 45% stay in South Florida (El Tiempo, 2019).

The expansion and development of the city of Miami has potentiated the valuation of its properties. It attracts millennials with a multitude of business and banking careers, while retaining its atmosphere of entertainment and fun. Some suburbs such as Key Biscayne, Coral Gables and Doral are positioned as popular places to raise families (Herrera, n.d.).

The Federal Reserve’s lowering of benchmark rates has also lowered mortgage rates considerably. This is reflected in loans with low interest rates, which make real estate investments in Florida cities very attractive. This is one of the reasons why home sales show an average monthly growth of 24.7% since July 2020 (Kromrei, 2020).

Location will always be one of the determining factors when investing in real estate; and the geographic center of Greater Miami stands out for its rapid valorization, infrastructure facilities and business potential. By investing in Florida cities like Miami, you receive tax benefits and protect your capital from the political and economic instability of some Latin American countries (PFS, 2019).

Miami: better quality of life

To live in Miami is to live in a city organized in the American way, with the Latino culture (PFS, 2017). Its main attributes are: gastronomic and cultural variety, beautiful beaches, warm climate, paradisiacal landscapes and many places to shop. This city has positioned itself as the home of Latino professionals and wealthy entrepreneurs looking to invest and enjoy (Herrera, n.d.).

South Florida is a coveted place for its diversity, climate and geographical location. But it also faces challenges of nature such as hurricanes, tropical storms, floods and some urban problems (Telemundo, 2019).

Many Florida cities know they must invest resources to strengthen their infrastructure and become more attractive to investors. Miami Dade County committed $22 billion to improve the area’s resilience to climate change; It also allocated $10 billion to the Water and Sewerage Department to improve its water system. It also plans to direct resources to improve mobility and facilitate access to housing. (Telemundo, 2019).

It’s time to invest in homes for sale in Florida and take advantage of the opportunity to multiply your money.

Protected Real Estate Investments in Florida Cities?

After the financial collapse of 2008, some Florida cities, such as Miami, learned to strengthen their real estate sector. And these are some of the perspectives of market behavior (Invest in Florida, 2020):

  • Supply and demand is highlighted by the scarcity of properties, and is projected to keep prices high.
  • Many properties have been withdrawn from the market until the COVID-19 crisis passes. This helps retain its value at levels similar to current ones in the short term.
  • The average of new construction is the lowest in the last 10 years. This implies that supply will not increase substantially, and will not push prices down.
  • Lenders have tightened the procedures for granting mortgage loans. This prevents the non-payment of some, affect the financial support of the real estate sector as in the past.
  • The federal government has intervened to overcome the economic crisis generated by the Coronavirus. The Stimulus Act and unemployment funds seek to control the anxiety of selling homes in a hurry.

Florida cities stand out for their potential for the luxury real estate market. Its climatic and geographical benefits allow to project a good valuation of its properties. And we are willing to give you all the advice to make the best decision when you are going to invest.

References:

Herrera L (n.d.). Miami, your destination to live. Estylo. Retrieved from https://www.estylomagazine.com/miami-destino-para-vivir/

Kromrei G (September 11, 2020). Mortgage rates notch new low. The Real Deal. Retrieved from https://therealdeal.com/miami/2020/09/11/mortgage-rates-notch-new-low/?utm_source=internal&utm_medium=widget&utm_campaign=feature_posts

Editorial Enjoy Miami (n.d.). Coral Gables. Enjoy Miami. Retrieved from https://www.disfrutamiami.com/coral-gables/

Editorial El Espectador (September 23, 2014). A paradise called Fort Lauderdale. The Spectator. Retrieved from https://www.elespectador.com/noticias/mundo-destinos/un-paraiso-llamado-fort-lauderdale/

Editorial El Tiempo (December 11, 2019). Why Miami is the ideal place to invest in real estate? Time. Retrieved from https://www.eltiempo.com/contenido-comercial/por-que-miami-es-el-lugar-ideal-para-invertir-en-finca-raiz-438362

Editorial Invest in Florida (April 28, 2020). Are we facing a new real estate collapse in the United States? Invest in Florida. Retrieved from https://inviertaenlaflorida.com/inversion/estamos-frente-a-un-nuevo-colapso-inmobiliario-en-estados-unidos/

Redacción Telemundo (May 30, 2019). Miami improves the quality of life of its residents. PFS Realty Group. Retrieved from https://www.telemundo51.com/noticias/local/miami-mejora-la-calidad-de-vida-de-sus-residentes/117039/

Redacción Turismo USA (n.d.). Orlando. Tourism USA. Retrieved from https://www.turismoeeuu.com/orlando/