There's a saying in Miami: if you haven't been to Miami lately, you haven't been to Miami at all.
Today, Miami is recognized as one of the top global cities for business, trade, commerce, finance, technology, education, healthcare, entertainment, sports, fashion, the arts, and real estate. Long known as an exceptional vacation destination, the city currently is the 2nd largest foreign banking center in the U.S.A., and has been labeled as the Wall Street of the South for its business and commerce reach into South and Central America, the Caribbean and beyond.
Here are five reasons Why Miami is the most attractive real estate market on earth right now.
1. Thriving Financial Center
- Largest concentration of international banks south of New York: 87 financial institutions and 33 foreign bank agencies
- Gateway to Latin America: Home to 1400 multinational corporations
- Top 20 Worldwide city in Gross Metropolitan Product
- Ranked 9th Worldwide for economic activity
- Miami International Airport: 150 Global Destinations
- PortMiami: #1 passenger port globally and China’s largest trade partner. Global HQ for five leading cruise lines.
- BrightLine (medium speed rail): Connecting connect Miami to Tampa. Represents $6.4 billion USD in direct economic impact to Florida’s economy over the next eight years.
- America’s top tourist destination: 4.25 million visitors in Q1 2015 (Source: Smith Travel Research – April 2015)
Miami International Airport Photography courtesy of Miami-Dade Aviation Department (C)2016
3. World Class Lifestyle
- Healthcare: 33 hospitals. Baptist Hospital of Miami ranked as one of the highest performing hospital systems in the country. Baskin Palmer Eye Institute ranked #1 in the U.S.
- Education: University of Miami ranked top 150 worldwide. Florida Int. University College of Business ranked top 10 in USA / Top 15 in Int. Real Estate
- Arts & Entertainment: downtown Miami has the highest concentration of cultural institutions in the Southeast U.S.
- Home to Art Basel Miami Beach
- Miami is one of the only citites in the U.S. to house all five major sports teams.
- Beaches: 84 miles of Atlantic Ocean coastline, 15-miles of world-famous beaches.
- Miami is the only major “subtropical” city in continental U.S.; average temperature 75 F/ 23 C
4. Population Growth
Only a few cities in the world can claim the same rapid growth, sustainability, and rise to global recognition as Miami… and indicators point to its continued growth. The city is a tropical waterfront paradise where people from around the world choose to meet, entrepreneurs gather, and is known as the capitol of South and Central America.
5. Value Proposition
$1M USD buys you how many square feet of prime property across the world:
- Miami = 850 SF
- Beijing = 624 SF
- London = 323 SF
- New York = 280 SF
- Hong Kong = 215 SF