The 5 good reasons to invest in Florida.
5 good reasons to invest in Florida
A dream destination for investing
Florida and Miami are destinations that are no longer present. Who does not know the bright sun all year long on sandy beaches that stretch to infinity at the feet of ultra-modern buildings and luxurious villas?
But Miami is more than just a cliché and a tropical holiday destination. The city offers a bubbling cultural life and an impressive diversity. The neighborhoods live under the same blue sky, but are not alike. There is something for everyone, for varied budgets, and for different lifestyles.
Invest in Florida for Still Affordable Prices for Real Estate
During the subprime crisis of 2008, Miami had been one of the cities in which prices had fallen the most. But it is also in Miami that the real estate is distributed more quickly. The reason for this craze? The appeal of investors around the world for this unique city on the international map, in the heart of the Americas, with considerable prospects, and a growing economy. Confidence has pushed up prices, but today it is estimated that the city has not said its last word and that the prices it offers are well below other global cities acclaimed internationally. So investing in Florida means enjoying a dynamic environment, but also build on a promising development generating medium-long-term capital gains.
An advantageous tax system
The state of Florida and Miami Dade County do not levy income tax on its residents. They must pay the federal income tax (that of the United States). This removes 2 levels of taxes and thus alleviates the taxation of those with significant taxable income. Most other US states do not have this tax and so residents have 3 tax levels (city - state - country).
This explains the attraction for Florida from entrepreneurs in New York, California, for example. In rental investment, under certain conditions, the rental income can be amortized during the period of ownership of the property through a depreciation mechanism.
In the event of a capital gain on the resale of real estate, the tax rate is around 15%, which remains much less important than in many European countries for example. As for acquisition costs, they are reduced, ranging between 1.5 and 2.5 % of the purchase price.
Some countries, such as France, have signed a tax treaty which avoids double taxation, under certain conditions.
Florida and Miami offer a particularly interesting tax climatebut it is always essential to consult your accountant and tax specialist before acquiring a property, to check what applies to each person's personal situation, and to better structure your investments from the start of the project. The heritage and estate aspect is, for example, another factor to be taken into account. The Barnes office in Miami is there to direct you to professionals you can consult.
Invest in Florida for a Strategic Location
For the past ten years, Miami has been speeding up the opening of airlines, making its airport an unmatched hub in the Americas, and a gateway to the Americas for countries around the world. The airport offers many direct flights daily to major North American cities (including Canada), to Latin American and Caribbean capitals, and to Europe. Recently, lines have been opened to the Middle East (Qatar) and Tel Aviv. Even Japan is in project within two years!
Just 30 minutes from Miami, Fort Lauderdale also has a growing international airport, including a choice of "low cost" companies including Europe (Norwegian Airways has a direct line Miami-Paris). Logically, this service to the two airports, makes Greater Miami a very suitable place as a starting point, for the development of international business.
A promising economic development
Miami's ability to attract entrepreneurs and investors from around the world and its unique position on the international scene encourage the city and its economic actors to diversify the development axes.
Beyond tourism, a major historical winner of the business sectors, Dade County relies on diversity: import-export of course, financial center (the second United States after NY), but also aeronautical maintenance (Miami became a major center on the continent), life sciences, health and biotech, the luxury and design sector, new technologies ... there is not a day without an announcement confirming the energy of Miami and its desire to win a new place in the business sun.
Beyond its geographical position, one of the assets of the city is a young population and a multicultural environment and multilingual in a period when globalization is the key word of business. "Last but not least" in the essentials of sustained economic development: the favorable legal and social climate for entrepreneurs. The Mayor of Miami Dade's ambitions are clearly displayed: Miami is becoming, before the middle of this century, one of the 4 largest economic centers of the United States turned to international, joining NY, Los Angeles, Houston & #8230 ; and one of the big business centers of the world, like New York, London, Hong Kong or Singapore!
If you want to know more about investment opportunities in Florida, do not hesitate to contact our team of experts !
+ 1 (305) 361 2233
1150 SW 22nd Street
33129, Miami, Florida.
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