Miami is affectionately known as the Magic City and you can see why. In barely 100 years it has developed from a sleepy seaside town into an energetic metropolis – the fourth largest city in the US. Today Miami is a thriving, culturally diverse metropolitan area that’s locked in an ongoing battle with Phoenix for the coveted title of America’s hottest city. And as Will Smith kindly pointed out, Miami is famous for its beautiful beaches and vibrant nightlife. So let’s find out why you should buy your dream home in this glamorous location.
Buying an overseas property in a destination that receives ongoing investment is a no brainer. Your property will retain or grow in value as the area becomes more desirable, and you and your family will be able to enjoy your new home to the max thanks to improvements to the local infrastructure.
Its unique location near the very southern tip of the US has meant Miami – sometimes dubbed “The Capital of Latin America” because of its large Hispanic population – receives a significant amount of investment from affluent citizens hailing from Latin American countries. Armed with work permits, university degrees and realistic dreams of upward mobility, their business ventures swell the local economy and their property investment leads to urban gentrification.
Spain and Portugal are not your only options if you want to buy a holiday home to escape the long, dark British winter. With daily direct flights from London Heathrow in nine hours, Miami’s east coast location makes it an accessible hotspot. For anyone making the move permanent you’ll still be able to pop home to see your loved ones at Christmas, or receive a visit from those that miss you/want to see this wonderful city for themselves.
Unlike those European resorts, there’s the convenience of a shared language once you arrive, and the opportunity to hop on a short flight to the Bahamas or Caribbean to take your sun worshipping to another level.
The Winter White House
You need look no further than the Mar-a-Lago Club in Palm Beach for evidence it was Donald Trump’s destiny to become US President. Now dubbed the “Winter White House”, it was built as a retreat for US Presidents in the 1920’s, before eventually ending up as a private club run by Mr. Trump.
It’s worth noting that from within these salubrious surroundings, Mr. Trump is currently sat deciding which direction he wants to take the value of the US dollar in the coming months. Whether he implements measures and delivers rhetoric to take it up or down, his decision will ultimately impact your property budget. To manage your exposure to currency market volatility it’s advisable to seek guidance from a currency specialist. They can help you secure a current exchange rate and with it the cost of your dream home, using a forward contact.