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The New Federal Tax Law signed at the end of 2017 by president Trump has clearly created a new trend of Tax Refugees trying to escape the high taxes of northern cities, to the shiny and tax privileged Miami. The most affected ones are the wealthy property investors after the law reinforced a deduction for state and local property taxes at $10,000. However, this doesn’t mean that these buyers are in a rush for changing residency and moving out to Florida.
This story has been all over the news, with shocking headlines it might have been misinterpreted as a drastic and radical movement that was happening from one day to the other. Nevertheless, this is not precisely the reality.
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Tags: domestic buyers, Florida, New York, Property taxes, real estate, real estate blog, real estate market, real estate news, real estate sales, tax refugees, taxes Miami
Foreign buyers in the U.S. have dropped by half in 2019 compared to the previous two years. Only in 2019 compared to 2018 there was a decrease of -36% in residential real estate, foreigners only spent $78 billion in 2019 compared to $121 billion in 2018.
Fewer foreigners buying residential homes in the US has pushed a decrease in listing prices. With lots of inventory and no buyers to fill them up, the market has switched from a seller to a buyer’s market. It is shocking the magnitudes of the drop as we have reached the lowest level of foreign residential investment since 2013.
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Tags: foreign buyer 2019, foreign buyers, foreign investment Miami, invest in Miami, invest in real estate, investing in florida, Miami Real Estate, real estate blog, real estate market, real estate news, real estate sales, real estate trends, World news
Another day and yet another new condo construction in Miami. The inventory of Miami Beach is about to increase with the tenacious construction of Park on Fifth. This 44-story luxury condo will be raised at 500 Alton Road with a welcoming location for visitors and residents of Miami Beach coming from the MacArthur Causeway.
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Tags: 500 Alton condo, construction south beach, Crescent Heights, Florida, miami developments, miami preconstruction, miami real estate developement, Opportunity Zone, park on fifth, real estate, rusell galbut
It’s not the first time we mention how climate weather is affecting Miami’s landscape. In our article “Miami’s great initiatives to combat climate change” we explained how Miami’s local government is developing new ways to reduce the long-term risk of flooding and stabilize the region’s economy. This time I wanted to explore a little deeper one innovative development that is reducing the flooding risk and is creating a cool trend at the same time!
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Tags: Miami, miami developments, miami initiatives, Miami Real Estate, miami real estate trend, miami trends, miami under water, properties, real estate, real estate blog, real estate market, real estate news, real estate trends, real estate usa
We’ve been writing about how the Tax Cut and Jobs acted signed by Trump in 2017, has made Miami an investment paradise for Tax Refugees (wealthy buyers investing in South Florida looking for a tax break). New York has been one of the best examples of high tax immigration to the sunshine state. As a consequence, Florida is now the 3rd most populous state in the country.
However, this is not the only reason why people are moving to Miami and why the population has almost doubled since 1990. It seems logical for hard-working New Yorkers to think about their retirement and do the math of how long would their money last with the incredibly expensive lifestyle of the Empire State city compared to Miami.
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Tags: buy condos in miami, buy miami condos, choose miami, choose miami over new york, Florida, Miami, miami or new york, Miami Real Estate, miami the best place to live, Miami vs new york, New York, New yorkers moving to miami, purchase a condo, purchase a property, real estate, real estate blog, real estate market, real estate news, real estate tips, real estate trends, tax refugees, why to move to miami
It is known that all great cities have been built along rivers. New York, Paris, London, Chicago, are just a few examples. It would be impossible to say it is just a coincidence! There a lot of riverfront advantages that have helped the commercial developments of cities. The half-mile long Miami River is not the exception. Miami was meant to be one of those big metropolises.
The 5.5-mile long Miami River is one of the most unique and authentic features that characterize Miami nowadays. It is so hard to think that it hasn’t always been this way, but it is actually the case. In 1950 the Miami River had a really bad reputation as everyone considered it like a cesspool. It was the last city in the U.S that pumped sewage into the river. It was only used for hosting cargo ships and marine repairs. Nowadays the story is completely different.
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Tags: Brickell, Brickell condos, Downtown, Downtown Miami, Florida, Miami Real Estate, miami river, Miami River condo, miami river condos, Miami River district, real estate, real estate market, real estate news, real estate sales, real estate tips, real estate trends, river
Foreign buyers have been the #1 buyers of South Florida real estate for more than a decade. However, for the past few years, there was a tremendous decrease in Latin American buyer’s activity due to inflation and unstable local governments. However, according to the Profile of International Home Buyers Report of 2018, there was a rose of 23% of foreign purchase activity in 2018 compared to 2017. Out of those foreign buyers, Brazilians are in the top of the list.
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Tags: Florida, foreign buyers, foreign buyers 2018, foreign investment Miami, international community in miami, internet real estate, Miami, Miami condos, Miami Dade, miami homes, Miami international buyers, Miami Real Estate, real estate, real estate blog, real estate news, residential market miami, south florida real estate market, us news, us real estate, World news
