In recent years the property market has seen a boom in international transactions, thanks in no small part to simplified technology and an increasingly diversified market. The nature of searching for a solid investment offshore means there are many factors to consider. Where are the best places to buy, and why? Is your client after a holiday destination, a working space for business trips, or simply a solid investment with a steady yield?
Each month, we’ll interview an industry professional from somewhere in the world to give you the low-down on their city and the things you need to know. For our first issue Teresa Kinney, CEO of Miami Association of Realtors, shares with us her top reasons for investing in the ‘Sun and Fun’ capital of the world.
Tell us a bit about Miami: Miami is one of the leading global cities worldwide and continues to attract new residents, vacation, second home and international buyers and investors. It is also one of the top ten destinations for high net worth individuals and for international business and banking.
Why do you think it is so popular among business and individuals alike? Miami’s unique location and amenities offer a lifestyle like no other – including great weather, exciting events, major shopping venues, access to a wide array of international cuisine, sports of all kinds, walkable cities, clean air and expanding global arts and entertainment. Non-stop flights to 150 destinations keep Miami connected to the world.
What does the future look like for Miami? Miami enjoys a strong and diverse economy and strategic location that is supported by an emerging technological industry, a $2 billion port infrastructure upgrade, $9.5 billion in airport upgrades along with billions in highway and passenger train expansions. The local market has experienced four consecutive record sales years, along with price increases consistently since 2011. Despite this, prices remain what they were 11 years ago, making Miami more affordable than most major cities worldwide.
What do you love about Miami? Everything! Miami is an exciting city that welcomes everyone – all cultures, languages, and lifestyles. It is the most international city in the U.S. and one of the most amazing in the world.
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