Where is the best place to buy real estate in Miami, Florida?

Despite widespread economic crises, more and more people wish to buy a home abroad. The American state of Florida has become a favourite region for buying real estate, and there are good reasons for that, among them the fact that Florida is known for its great climate and elite beaches. For those with the means, it’s never a bad idea to consider looking for a villa for sale in Miami Beach – a resort city that’s considered the best in America with hundreds of cafes, restaurants, nightclubs and other entertainment venues. 

There are various areas to consider: La Gorce, Nautilus, Bayshore or Flamingo – it’s a tough call which area is best, so buyers must be guided by individual taste. The South Beach area, for example, has gained worldwide fame. It is far easier find suitable housing in Miami Beach with the help of a realtor. There are agencies for every budget and taste, including some that offer clients who want to save money the opportunity to purchase housing confiscated for non-payment of a mortgage. This method of purchasing property in Miami is considered one of the most difficult and, simultaneously, one of the most profitable. According to the laws of the state of Florida, one can buy and sell real estate in absentia – that is, through an intermediary and without the buyer’s participation.

And what are the primary reasons a person living in Europe might want to buy property in a foreign country? There are a variety of cases – some just want somewhere to go on vacation. In addition, businessmen operating in the United States are forced to spend several months a year abroad. Living in their own apartment is much more profitable than paying for a hotel room.

In most cases, real estate in Miami attracts those who seek to invest money profitably. It is profitable to buy, even on credit. In many banks, loan interest rates do not exceed 3%, and real estate prices are gradually rising.

Apartments in the “magic city”

Contrary to popular belief that only oil tycoons can buy real estate in Miami, people with average incomes can also buy housing in the “magic city” (as the Americans themselves call it). It is possible to buy a modest one-bedroom apartment for $72,000 to $100,000, even in Miami Beach. After a simple calculation, in some cases an apartment in Miami will cost much less than its European counterpart. The cost of housing is affected by the age of the house in which the apartment is located.

Houses in Miami

An inexpensive house in Miami will cost $200,000. But why choose a house over an apartment:

• lack of neighbours
• lack of building fees
• buying a villa in Florida allows use of the land, pier and pool next to the house for free

It should be noted that under state law, the house’s owner must keep it in good aesthetic and technical condition – a requirement that allows the state to be called America’s cleanest state.

Commercial real estate in Miami

Buying commercial real estate in the US, not just in Miami, has some advantages. Foreign citizens have the right to buy commercial real estate in unlimited quantities. Investing in American real estate is safe with the right due diligence, and the United States tax system is fairly liberal. Commercial real estate in Miami Beach will bring a stable annual income, considering all the necessary tax deductions.

Developed tourism sector

Foreigners investing in Florida real estate also invest in a strong and growing tourism industry. The National Travel and Tourism Administration has set a target of 100 million visitors a year worldwide. These visitors are estimated to spend around $250 billion during their stay.

Therefore, the sunny state is ideal for investors who want to profit by renting out their homes to vacationers for a short time. Florida is a thriving tourist destination. When one adds to that the fact that the public service sector is heavily geared towards tourism, local property owners can expect to earn high returns by managing their property from overseas.

Transparency and simplicity of the transaction process

Florida is one of the easiest places in the world to buy real estate. Transactions with residential and commercial units located in the state are highly transparent and efficient. All deadlines and processes are clearly defined, and most contracts have a “time is of the essence” clause, meaning that the parties responsible for the transaction must fulfil their obligations promptly.

The Sunshine State is also one of the few places in the world that offers title insurance. This means that the title of the owner that the buyer receives is undeniable: an outsider will never be able to claim ownership of the property. This distinguishes Florida from many modern European countries, where tracing ownership can be difficult and, in some cases, almost impossible.

Help with buying property in Florida

About 20 million tourists visit Florida annually, and many decide to settle there forever. Moreover, the laws of Florida allow foreign citizens to purchase real estate and even offer to finance for these purchases. There’s also the option to rent property out and cover not only all maintenance costs but receive a certain amount in the account as a reward or accumulate capital in an American bank. Even if it’s rented out, the home could be waiting for the owner and their family members several times a year for a wonderful break.

Finding residential and commercial units in Florida can be tedious for buyers unfamiliar with the US real estate market and who need more investment experience. To make a profitable investment or find a dream home to move into permanently, it’s worth checking out the information on the official Florida Realestate website. Visitors can find the best deals on the Florida real estate market in the catalogue, and specialists working in the company are ready at any time to help buyers with their optimal selection.

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