New York has been established as the place where American Dreams are made, but many investors do not realize that Miami has a growing reputation as a viable place to take a bite of the American dream.
Financial District Rivals Manhattan
The state of Florida does not have an income tax, and it has the fourth lowest tax rate in the nation. Investors from around the world have seen the value in putting capital into Miami’s version of Wall Street in the Brickell Financial District. Brickell is a district in Miami that rivals Wall-Street when it comes to finances, and more people are looking to start their careers in Florida instead of New York due to the room for upward advancement in the financial and real estate markets.
Miami Welcomes Change and Growth
Many large cities also have an old-world resistance to growth and change. Miami welcomes growth when it comes to real-estate, culture, and fresh ideas. This is part of the reason for the growth in jobs and global popularity. Any entrepreneur can tell you of the difficulty of trying to get approval for a skyscraper that will change a neighborhood, in Miami the surprising part is the ease of approval and embracing of change. This welcoming of change and growth does not indicate a lack of culture. Miami is a large urban city near many natural resources like the Everglades National Park and miles of pristine beaches. This hot town draws in financial types to want to enjoy still being in the mix of the global market, yet able to enjoy the good life. It also has been a hub for the art scene with its own bohemian district as well as a hot-point for fashion models from around the nation.
Real Estate is in High Demand
Real estate in Miami is in high demand. There are a range of properties to invest in from business centers in skyscrapers, to high-rise apartments, to condos on the water, and property on the outskirts. Florida’s tax benefits and Miami’s openness to growth make Miami the hotspot for real estate development at the moment.