Top 3 areas to invest in Miami

Miami is a fast-paced growing area. Property investments have increased over the last 15 years thanks to Miami’s lifestyle. According to the Florida International University’s Metropolitan Center, Doral is one of the fastest growing cities in the state, with a growth of 26.1% between the years of 2010 and 2016.  

Now, we’ll tell you about some of the fast-growing areas to invest in Miami:

Between 2015 and 2016, cities like Bonita Springs (4.5%) and Fort Mort (4.5%), were some of the fastest growing cities thanks to their environment and possibilities of investment.

Miami, on the other hand, grew a little bit over 2.9%. Between the years 2010 and 2016, the city gained nearly 53,000 residents, and last year alone (2017) it grew by 13,000 new residents.

Other cities around the South Florida area with a resident growth were: 16,408 in Miramar, 13,200 in Fort Lauderdale, 11,700 in Boca Raton, 11,200 in Hollywood, 9,900 in Davie, 8,961 in Coral Springs and 7,638 in West Palm Beach.

South Florida hasn’t lost population in over six years, making this area an attractive investment opportunity. And that’s where Gables Riches comes in. We offer Real Estate, Property Management and Property Insurance; we help you during the entire process. All you have to do is contact us and we’ll make your dreams of living in Miami come true.

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Local Residents and US Citizens are back in the Market!

The real estate market is continuously changing. A few years ago, it seemed to slow down, and most of the main investors were immigrants that were looking for a second vacation home. However, the market had seemed to turn upside down, and since 2016 and 2017, local residents and U.S. citizens are coming back for real estate investments.

            The Miami real estate market seems to be one of the favorite for the upcoming years. The weather, coziness, and investment stability in this city is dragging investors every day. The most interesting part is that those investors come from every generation.

            Ten years since the housing crisis, middle-aged people have fixed their credit offer. This is offering them the opportunity to reinvest their money back in the market. They seem to be buying second homes and also investing in properties as a way to gain future profits (either by reselling or renting). And due to the great deals in Coconut Grove and Coral Gables, this seems to be an amazing opportunity for this generation.

            Regarding the Baby Boomer generation, they’re downsizing or buying second homes. People from this generation already own a property, and are settled in life. But real estate is pretty attractive to them since it’s the safest way to use and keep your money, while making a profit. However, most of them are just investing in real estate to purchase a second home to spend their vacations. And there’s no destination like Miami to do so. So, you can figure out that this is a great move for South Florida’s real estate market.

            Last, there’s the Millennial generation. This is the youngest generation to have the economic opportunity to invest in real estate. Since they are tired of paying rent, the Millennials have done some great work at saving money, and now have enough to get into the market and buy a property of their own. This is a generation mostly made up of single families and full-time local residents, so this will help the Coral Gables and Coconut Grove housing market, since the properties here meet the needs of these types of investors.

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