The Sunshine State has more than beautiful weather and beaches on offer.
Bordering the Atlantic Ocean and the Gulf of Mexico, Florida is a property investors’ haven. Its warm weather lasts nearly year-round, which, given its other big draw, beautiful beaches, is exceptional news. The state’s other perks include 9,200 miles of hiking, bicycling, equestrian and shared-use trails and over 4,000 miles of paddling trails.
Cyril Bijaoui, partner at Westside Estate Agency adds, “Florida is generally attractive for the same reasons it has always been: no state income tax and good quality of life in a tranquil and peaceful environment.”
It’s Miami, Pinellas County and Palm Beach that are sharing the property spotlight though. Miami in particular has “grown into a mega city”, says Cyril. “It is now a major metropolis with the benefits of a much improved cultural and business environment. Miami has become the ‘go to’ place for everyone seeking a friendlier business and tax environment without having to sacrifice on quality of life.”
If you’re looking to whet your Miami property appetite, it’s good to know how the market has fared in the last year. “Homes have appreciated to the tune of 31% and sales have increased by 72%”, says Cyril. “Sales volume more than doubled the prior year, but this is strictly for properties of $1m or greater in the South Florida area.”
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Worthwhile waterfront estate
A 150 half-acre waterfront estate could be yours, featuring the best views of Downtown Miami on the prestigious Palm Island. Collect rent from the two homes while you prepare plans and obtain building permits. Sale includes both 266 & 276 S Coconut Lane. 276 is rented for $15k per month until Oct 31, 2021 with a 12-month option to extend and 266 is owner occupied but would leaseback if of interest to buyer. Zoned RS-4: Options are a) build a single home up to 10,500 SF, or b) divide lots and build three new separate homes, or c) keep as is and renovate the two existing homes.
£14.54m / €16.82m / $20m
Westside Estate Agency
Cyril Bijaoui | t: +1 305 447 1471
www.weahomes.com
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