Miami has evolved so much over the past 5 years that is very difficult to remember the old city. Miami Downtown today is no longer the unsafe area of the past but has become the financial center of the Americas and with nothing to envy from the most notorious business capitals such as New York, Chicago and London. Miami Beach has grown from being a drug lord battlefield in the 80's as one of the top fashion and vacation destination in the world.
But why has the Miami skyline changed so fast and most importantly is this boom going to last?
First and foremost, Florida is part of the United States 'sunbelt'; its sunny weather welcomes 1000 new residents per day. Miami benefits from this migration as well as the South American migration. Foreign capital investments have reached nowadays 20% in Miami metro.
Miami has been crowned the cruise capital of the world with over 3.5 million passengers per year and it continues to attract tourists and investors from all around the globe.
Miami preconstruction land is scarce. On the West the beautiful Everglades are off limits to developers while on the East space is limited by the Atlantic Ocean coast. This scarcity helps the increase in real estate value.
Finally, Miami is becoming a cultural and Entertainment capital. Art Basel, the boat show, the Wine and Food Festival, the Super Bowl all participate to the welcoming atmosphere of this city.
All this said you cannot hesitate anymore in buying your piece of this American Riviera.