Is it business to invest in properties in Miami in 2023?  —

Is it business to invest in properties in Miami in 2023? —

While some argue that it was a bubble and the values ​​of properties, which are at an all-time high today, are about to drop soon, the numbers show that the price has been stable for a decade. business life to invest in real estate Miami in 2023?

According to statistics from Miami Realtors, the State of Florida has long been the country with the highest foreign investment in real estate in the entire United States. There are several reasons for this, but the point seems to be that the fact that values ​​have increased for 10 consecutive years and rental demand is at its peak is something that attracts anyone looking to resell. Or rent with dollars.

This phenomenon has a direct impact on the demand for professionals who often intervene in the buying or leasing process: accountants, lawyers and other professionals are heavily consulted by investors from all over the world.

For example, the work of Susy Chemen has significantly increased her work in recent years: “We receive daily inquiries from foreigners, mostly Latinos, for advice on investing here. I suggest you consider starting a company first, because it’s a simple procedure that doesn’t require a physical presence in the US, gets set up in a few days, and makes everything needed to acquire a property as easy as it gets. Chemen, who is from Argentina and founded the studio that bears his name.

Advice is recommended, because without it the costs will definitely be much higher: for example, for a foreigner there can be 4 different types of taxes that affect a property acquisition: Inheritance tax, Income tax, Dividend tax and current withholdings at the time of sale, therefore, knowing and helping them in making progress it’s better to hire someone who can”, concludes the professional.

But will investing in Miami property in 2023 still be business?

“The profile of foreign buyers is very diverse, from young people considering a future ‘retirement’ to older people who want to come and live in a city with a pleasant climate almost all year round.” .

A significant number of questions from foreigners come to Argentines who want to earn an income in dollars.

Regarding young investors, Susy Chemen Consulting from Miami observed in their accounting study that many of them do so because they have chosen a secure system where they have a company that allows them to finance 70% of the value of a property: what companies and banks and many of them do is take the remaining 30% and buy and pay off the loan with what they get from renting, so that after a few years, rent it out and live on that income, or sell it and own a property in a city where its value is increasing year by year. they become the owner of a property with the possibility of “retirement” in dollars denotes the professional.

According to data from Miami Realtors*, Argentines are among the top buyers in Miami worldwide, and in September this year they were ranked second to foreigners seeking investment information worldwide after Colombians. But right now the question arises whether it’s still a good business to invest there.

Jon Paul Pérez is an authoritative voice in the market as he is president of The Related Group, Florida’s #1 developer. The first thing that stands out is that beyond foreign investment, but also thanks to internal movement, the region is experiencing a historic moment for real estate operations: “Miami is a young and vibrant city with an incredible climate, an ecosystem. art and growing culture, and most importantly, the unique impulse. The values ​​here are low compared to other big cities such as New York, London or Paris, and if we add the opportunity to make a home office and the appropriate tax environment, it is understandable that business records are broken month by month. month and we see a tipping point where individuals and companies exit the markets.

“Obviously it’s still good business, because I believe the values ​​and demand will continue to rise. And we Argentines know very well how important it is to have a dollar-denominated income or investment, and Miami and South Florida,” said Sergio Vuguin. , remains one of the most promising investment opportunities for all of Latin America. There is a huge rental demand if buyers want to lease their units and if the idea is to sell it there will always be a city with easy access to Latin America so buying here is definitely a great idea. I see it as an investment.

More information and advice on how to invest in Miami, by clicking here.

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