Industry’s maturity, profitability, and permanent residency are the top reasons why international investors are choosing the luxury mixed-use real estate market in Miami.
Located on the southeast side of Florida, the City of Miami is famous for its paradisiacal beaches and warm weather all year round. But beyond the sun and the effervescent options for tourism, Miami has also become a major center leader in finance, retail, and international trade where its main economic sectors includes construction, real estate, tourism, and manufacturing.
With a highly diversified economy, Miami has turned into the favorite destination for international high-class investors. The rise in tourism, a variety of business opportunities, and the growing luxury real estate sector are some of the reasons why the city is increasing its position as a global hub and attracting investments from all over the world.
You will find below the most up-to-date information that shows why high and ultra-high net worth individuals are making Miami’s luxury real estate market their first choice for investments.
According to Tax Foundation, a non-profit organization that publishes research studies on U.S. tax policies, Florida figures as the fourth-best state in the United States to do business, while Miami has the largest economy in the State and the 12th largest GDP in the country.
Global city, foreigner friendly
Research by the United States Census Bureau revealed that, in 2019, 58% of Miami residents were foreign-born, while the Miami Association Realtors informed that the city had 30% of real estate purchases by foreigners.
High appreciation rates
The real estate market continues to thrive in Miami with an annual average home appreciation rate of 6.85%. The city achieved a total of 93.9% appreciation rate in the past ten years, figuring among the highest in America.
During the past ten years, Miami registered an expressive population increase of 22%, which generates a high demand for residences, hotels, retail, restaurants, health centers, and entertainment venues.
Considering the urban expansion, the population growth and the development of the economy, Miami has presented a very high demand for investments in real estate, especially in mixed-use buildings.
MIXED-USE BUILDINGS ARE A HIGH GROWTH SEGMENT IN MIAMI
Miami is experiencing an architectural and design revival that fuels the luxury mixed-use building market. Common in many countries, its main characteristic is the unification of several segments in one place that brings together hotels, residential, retail, health centers and others.
According to data from the Greater Miami Convention & Visitors Bureau, the city has the best hotel occupancy rate in the country and foresees the construction of more than 50 hotels in the next three years.
WAYS TO INVEST IN EB-5 LUXURY MIXED-USE PROJECTS IN MIAMI
If you are a high-income individual interested in acquiring the U.S residency, the most common way to invest is buying EB-5 projects associated with Miami luxury mixed-use buildings.
Four Seasons Hotel & Residences at the Surf Club
Set in the northern end of Miami Beach, the Four Seasons Hotel & Residence is a luxury mixed-use development that is outperforming expectations since its opening, in March 2017, with bookings yielding occupancy of over 90%. The project includes an 80-room hotel, two 12-story glass residential towers, a private club, two restaurants, four swimming pools, a gym, oceanside gardens, and a park.
The Four Seasons Hotel & Residences at the Surf Club is one of the projects from which LCR received multiple I-526 approvals – the completion of the first stage of the EB-5 immigration process for investors.
Paramount Miami World Center
Paramount World Center is a luxury mixed-use building that offers retail, hospitality, and residential options in a single location. It also houses the new Marriott Marquis Mundial Convention Center Hotel, with around 1,800 rooms and 56,000 m² of area for meetings, exhibitions, and conventions. Located in downtown Miami, Paramount World Center is a safe and profitable option for those who want to invest in an EB-5 project.
Legacy World Center
Legacy World Center is a brand-new mixed-use luxury development in downtown Miami that brings 288 residences and 259 hotel rooms, a private International Business lounge, and an onsite Wellness & Medicine Performance Center, ensuring the building will be a financial success.
Legacy EB-5 project is in the same Targeted Employment Area as the Paramount Miami Worldcenter, which has more than seventy I-526 approvals. Legacy is projected to create 4,184 jobs which is 5x the USCIS requirement.
HOW TO GET AN EB-5 VISA INVESTING IN MIAMI REAL ESTATE
If you wish to apply for the EB-5 investment program, the first step is to contact a Regional Center regulated and approved by the U.S. Citizenship and Immigration Services (USCIS), from which LCR is part of.
Once we are fully aligned with the investor’s goals and potential, our specialized team will advise and help them to find an existing project or to develop a new one that is suitable for their conditions and meets the EB-5 program requirements.
Mixed-use buildings are Miami’s backbone and one of the best options for EB-5 investments.
Both commercial and residential real estate market continues to grow and has proven to be an effective business for high net worth individuals providing capital security, substantial profit, and the right to live in the United States under an investor Visa.