Capital: Washington DC
Time zone:GMT -5
A Bit of Background
Located in the state of Florida, Miami sits on the Atlantic coast. It is in between the Florida Everglades and the Biscayne Bay and is the most populous metropolis in the Southeastern United States.
The Miami property market is an extremely diverse one and within all sorts of price ranges, although it is known for its high-end market. Condominiums are a popular investment in Miami. There are luxury units but plenty of options in lower price ranges.
“Wonderful coastlines. An energetic mix of people. Ton of things to do. It’s no surprise it’s one of the most popular places for people to move”
Florida’s busiest airport is Miami International, which serves the south of the state. The airport, 13km from Downtown Miami, is a hub for American Airlines and the main gateway between the US and Latin America, where many home buyers come from. The second biggest airport is Orlando International. Major routes come from the UK, Canada and Germany.
Amtrak provides the main intercity train services in the US, connecting Florida with other mainland states. Stations cover all the main towns within Florida, from Miami and Orlando to Jacksonville and Kissimmee. For those in Lake Buena Vista, the Walt Disney World Monorail System will also ferry visitors around at speeds of up to 55 miles per hour.
Car rentals may not be necessary for tourists visiting Florida’s beaches, but for those needing to travel across the state for work or pleasure, Florida’s expressways are indispensible. The majority of the roads are toll-based, although interstate highways are free of charge. A SunPass can be purchased from supermarkets to save 25 per cent on toll rates.
It’s no surprise that Miami’s biggest purchase demographic is from the USA itself. Miami has an almost constant holiday atmosphere. Because of this, retirees love to move and settle in Miami, where there are plenty of services to assist those in old age. Canada’s snowbirds, who look to the USA’s warmer areas for holiday homes in the winter, are also major players.
Prices can be high, but these are cream-of-the-crop, luxury properties. In fact, there are even exclusive islands such as Fisher Island and Star Island, where there are gated communities for the wealthy. As such, it’s also comes as no surprise that international investment comes from countries of perennial wealth, such as the UK, with investors proving as important as lifestyle buyers.
Where to Buy
Popular hotspots in Miami include: Sunny Isles Beach, Miami Beach, Aventura.
Useful Words to Learn
Realtor Estate agent
FHA or VA Government loanGoogle+