Miami continues to be a paradise for foreign investors. Being used to their countries, where economics and politics paint a landscape that is not very safe, Brazilians, Venezuelans, Mexicans, Colombians and Argentines are just some of those who decide to trust in long-term investing in construction or properties in Miami.
On the other hand, the advantages of financial leverage often make it not only more profitable to invest in a property acquisition rather than paying rent, but also end up making the mortgage monthly payment cheaper than monthly rent. Those are all the reasons why regular tourists in Miami decide to invest their capital in the city.
What drives the choice of a real estate investor when picking a certain area in Miami? Well, there are several variables to take into account. In the first place, life-quality, then the strategic location and the valuation of the properties. But let’s see some of the most chosen and best neighborhoods to invest in Miami.
The best neighborhoods to invest in Miami with a mortgage loan
The best investment areas in Miami are divided according to the objective that the investor has. On one side, we have neighborhoods that are better for housing, then there are other ones better for businesses or offices. Let’s dig a little deeper about both cases.
- Best neighborhoods to invest in Miami for housing
- Surfside is ideal for those looking for a quiet, peaceful sea view. It is a residential area, ideal for taking daily walks.
- Coconut Grove is known for its large amount of vegetation. It is located near Coral Gables, south of Miami, and also provides peace for its neighbors.
- Brickell, the former financial center of Miami, is the perfect place for those looking for an exclusive area, near the river and downtown. Quality and distinction for those who want to stand out or to later take advantage of a higher income if they decide to rent to someone.
- Aventura is an urban area with great family and cultural life, which has been developing firmly since 1995. It is quiet and offers many commercial and gastronomic options.
- In South Beach we can find the famous Ocean Drive. Iconic, this area houses the best hotels, restaurants, cafes and delicacies, as well as artistic activities. Previously known as the American Riviera, South Beach stands out for its elegance.
- Bay Harbor / North Village is an area composed of three islands in Miami Dade: North Bay Island, Harbor Island and Treasure Island. The triad is connected by the Kennedy Bridge to Miami and Miami Beach. It offers some amazing views of Biscayne Bay. Bay Village is also renowned for the nightlife. It is very interesting for investors because it is also located in a strategic location close to Downtown and Miami Beach.
- Hollywood Beach has an atmosphere that could remind you of the 1930s. It is one of the few areas of Miami where we cannot hear everyone talking in Spanish, with most of its tourists being European. The landscape shows as small houses and buildings.
- Fisher Island is the place where luxury reaches the impossible. Mansions of politics, artists and celebrities are blessed with private beaches, golf camps, spas, etc. It is an island surrounded by the Atlantic Ocean and by South Miami Beach in its northern part.
- The best neighborhoods to invest in Miami for offices
- Coral Gables and West Palm Beach have seen an appetite for Class A offices. A lot of companies are looking for full floors in both areas.
- Fort Lauderdale. Here, new buildings designed with open floor plans, big amenity spaces and wider windows will attract business landing in Miami.
- Brickell continues to be an ideal destination to invest in offices as it has traditionally always been. As the opposite we find an emerging area, Wynwood, with a large number of offices where we can find already installed coworking spaces. A domino effect is expected soon. Coconut Grove is also joining as a destination for these kinds of companies.
Finally, it is good to take into account the differences between an average monthly payment of a mortgage loan and an average monthly rent. There are neighborhoods in Miami where the mortgage payments are cheaper than rents, and when looking at different areas of investment in the city, those neighborhoods are usually chosen over others for that reason.