In spite of what would seem to be the common opinion of the fall of the real estate market in the Miami area, Miami luxury real estate remains an extraordinarily popular locale for those looking for a slice of South Florida heaven.

Granted, South Florida does still experience its share of hurricanes, and the traffic isn’t anything to write home about, but these are sacrifices that many real estate investors are willing to look past for the amount of value one can achieve for their investment in the Miami metropolitan area. The city still boasts some of the most beautiful beaches found anywhere, and virtually impeccable weather all year round. It is easy to see why the popularity of The Magic City is still flourishing.

Purchasing Miami Luxury Real Estate

Miami is one of the truly culturally diverse locales anywhere in the United States, however with the rich Cuban culture, and the influx of European investors into the region, it can be said that South Florida may be the most culturally diverse city outside of New York. The amenities and offerings that bolster the city differ from neighborhood to neighborhood.

Miami isn’t all bright lights and the party scene that is associated with the popular South Beach location glorified in movies, and television. Many neighborhoods offer much of the same things that out-of- state potential home buyers have come to expect from their former homes. Several of the areas in Miami provide playgrounds, excellent educational systems, and everything one has come to expect that desires the quiet and family oriented lifestyle.

Additionally, there are neighborhoods in Miami for those fashionistas in the Design District, those interested a bit more in artistic influence and the architecture of the Arts District, and even those that desire restaurants, fine-dining, or the sporting life.

The Miami luxury real estate market has undergone several periods of change in reflection of the changes that have taken place within the city of Miami itself. The technology revolution, the housing bubble in 2008, and the construction boom that followed all have shown the resiliency of the city of Miami, as well as the ensuring interest in the beautiful metropolis.

A good amount of Miami luxury real estate can be considered some of the most elegant, and opulent condominiums and homes that you’ll be able to find anywhere in the world. Between the gorgeous mansions, and high-rise condos overlooking the beautiful Biscayne Bay, it can be easily seen why luxury real estate in Miami is so sought after. With a boost of both domestic and foreign investors, the market may not be displaying large amounts of growth that has come to be expected of the area, but the market remains stable, hardly in recession.

Popularity of Miami Luxury Real Estate, with Good Reason

There is a multitude of reasons why investors decide that Miami is a good location to invest in real estate. One of the biggest benefits that the State of Florida is bolstered by when it comes to those, especially the more financially prominent, that look to make Florida their home, is state taxes. Florida has no state income tax whatsoever, and a good way of looking at it is that essentially you are receiving a discount, or being paid to reside in our great state and enjoy all of the beautiful amenities of one of the best places to live in the United States. For those with large incomes, the cities of New York and Los Angeles both boast an income tax rate in the ballpark of 10% annually, equating to a large amount of savings at the close of the tax season.

Miami is also viewed as a capital city in regards to Latin American culture, and high-profile properties are purchased by Latin American investors. South America has had issues in the past with several different financial problems related to instability in currencies and governments, and many prominent businessmen and other investors look to protect their assets against the potentiality of financial misfortunes that could befall them in their homelands.

Another major benefit for those that are interested in purchasing real estate in South Florida has the economic connotations and causalities that stem from the increased amount of currency being printed in our country. Real estate can be considered second to gold when it comes to tangible currency in downturned financial environments, and many investors look to purchase real estate, especially in times of political duress.

Miami Luxury Real Estate with Steven Vargas

The best thing to do when looking to enter the luxury real estate market in Miami is to find a real estate agent that you feel comfortable with, and that is familiar with both the market and the South Florida area.

Steven Vargas is a real estate agent specializing in Miami luxury real estate condominiums, and homes. As a home-grown Miamian, Steven Vargas resides in the Brickell Key area of Miami and has spent a lifetime in the city, knowing it as well as anyone in the industry. Steven has a personal interest in the art and architecture of Miami and can be the perfect asset to finding the perfect home of your dreams. He draws on both his knowledge and experience in the city of Miami to help clients, buttressed by his familiarity with the neighborhoods of the city.

If you are looking into entering the Miami luxury real estate market as a buyer or seller, contact Steven Vargas today for more information on how he may be able to make your dream of being a luxury real estate investor a reality.

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