Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, ONE Sotheby’s International Realty Commercial Director Anna Rossie-Alvarez shared her top reasons for why Miami remains a magnet for commercial and residential buyers and investors.
Miami is in some way has always been isolated from things like the recession and downturn cycle. We outpace the country in many statistical areas. The reason for that is strong foreign interest, and also domestic interest, and the general sense that people want a presence here. The demand is high, commercial and residential.
3. International interest – Whether it’s South America, China, Eastern European countries, there is a tremendous amount of interest from people around the world. Domestic interested is also acute in Miami, particularly from the northeast, where plenty of companies want to setup a presence in Miami. We are clearly the gateway to a lot of international commerce, especially in international distribution considering Miami’s ports and airports and train hubs. The expansion that’s going on right now with Miami transportation is only going to increase that appeal.
2. Affordability – Comparatively, Miami is more expensive than the national average, but on an international level, the city is still relatively inexpensive to investors. Prices are still rising, but they remain affordable on a global scale, and that’s a huge draw for international companies and residential buyers.
1. Booming Business – Retail, industrial and healthcare industries are booming. The growth is attracting companies in all sectors of those industries.
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