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Miami is Booming

Publisher:Andre Brown    |    2016-07-22     Share:

Miami is Booming


Article by Andre Brown--- International Real Estate Investment Adviser

American Da Tang Realty in Miami

The Miami real estate market is back and booming like never before. After being one of the hardest hit real estate markets in the United States during the Great Recession, major foreign investment has fueled the rapid advancement and development of the Miami urban core.

Additionally, in 2014, Florida surpassed New York as the third most populous state in the United States. This combination of foreign investment and population growth, has allowed the South Florida real estate market to fully recover to pre-recession levels in less than eight years.

So why is Miami so successful and important? Miami has long been the economic epicenter and known gateway to Latin America and the Caribbean. The expansion of the Panama canal and improved U.S. Relations with Cuba has now caught the attention of even more global investors. Miami is rich with culture, beautiful weather, beaches and is one of the cruise capitals of the world, which industry alone attracts millions of visitors annually. One look at the Miami skyline and visitors can’t help but notice the intense amount of construction that is taking place. Hong Kong based Swire Properties has undertaken and has nearly completed Brickell City Center is a $1.05 billion mixed-use development.

Strategically located in the center of the Brickell financial district, this is the single largest project currently underway in downtown Miami. Furthermore, the 27-acre Miami World Center which is the second largest master planned development in the United States behind Hudson Yard in New York will introduce Paramount Miami World center condo, a luxury hotel, retail space with relatively close access to All Aboard Florida Grand Central Station. All Aboard Florida is the passenger speed rail that will connect Miami to Orlando which is home to Walt Disney World.

In December 2015, it was announced that the American Dream Miami Mega Mall will also be built with 6.2 million square feet of shopping, entertainment space, hotel rooms and an amusement park. In addition, international soccer icon David Beckham and his group unveiled the architectural rendering of this proposed Major League Soccer stadium in Miami.

By comparison, Miami real estate is out competing other major metropolitan cities around the world because of the caliber of projects and its unbelievably reasonable price per square foot. As such, investors from around the world are more focused than ever on investing in Miami real estate. However, when doing so, it is imperative that such investors have an experienced team of advisers familiar with current market trends and who are able to help facilitate smooth real estate transactions. Finding the right real estate broker, title insurance company, and real estate lawyer in Miami is quite essential to making these successful investments in the market. There is no question that the real estate and economic growth of Miami has placed it on the map as one of the premier global cities, ripe for investment, and blossoming with opportunities.

For further information, please email andreb@americandatang.com

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