Miami - A Resident's Paradise

By: Jonathan Trot

A beautiful beach city lying in between the everglades and the Atlantic Ocean, Miami is blessed with several barrier islands, making it one of the most sought after places in Florida. The city is located around the shores of Biscayne Bay and is the largest city in the entire Dade County. It is also one of the biggest real estate hubs in the country, with the South Beach real estate and the famous Miami Beach city attracting investors and tourists forever.

As of 2009, the voting population of Miami had grown manifolds reaching up to 398,390 (according to the U.S. Census Bureau) and growing. Financially, Miami makes for one of the most significant business centers. Regionally, it is the center of all commerce. Even as due to the strong tourist attractions, international business community too boosts its strength. Miami's proximity with Latin America further has resulted in a lot of Latin American companies making it as their base. Till date, over 400 multinational companies have made Miami as their base. Companies that enrich the city include Disney, Microsoft, Cisco, SBC Communications, FedEx, Exxon, Oracle, Sony, American Airlines etc.

A few other companies to have found their headquarters in and around Miami happen to be Burger King, DHL, Bacardi, Spirit Airlines, Carnival Cruise Lines, and Norwegian Cruise Lines. As the city is a famous tourist spot, several international banks have also marked their presence, concentrating within the downtown Miami. This clearly explains how financial institutions and businesses from all around the world marked as "the spot" and are continuously buying real estate here for investment purposes.

For those with investment in mind, a hotel or night club business will prove to be extremely fruitful here. The beautiful beaches are well known amongst tourists, even as the Art Deco night club district, located in South Beach, is known worldwide for making waves and sensational nights, inviting tourists from world over.

Now for those planning on relocating in Miami and hence looking forward to buying real estate here, it is a known fact that Miami is considered as one of the costliest places in terms of expenditure on house ownership. According to estimates, almost 70 percent population ends up spending 42.8 percent of their income on home ownership only.

However, not deterred by the high cost of living, people are continually buying real estate and relocating to Miami. Year 2005 saw the highest growth in real estate in Miami since the early 20's.  Recent years have seen an increase in Miami population, with people finding a great real estate place compared to other parts of the country.

International immigration too is on a rise in Miami. The population graph speaks volumes representing communities and ethnicities from all over the world, a few of them being Argentineans, Brazilians, Bahamians, Turks, Indians, Canadians, Dominicans, Cubans, Jamaicans, Israelis, French, Mexicans, South Africans, Russians, Tobagonians, Trinidadians, Venezuelans and Puerto Ricans etc. While most people think of Miami as mainly comprising of Hispanic and Carribean immigrants, the truth is that it houses one of the largest Israeli and Russian communities in America. For its vast diversity, the city is also aptly termed as "the Gateway of the Americans"!

So if you are planning to move to Miami or to start a business in the city, you are heading towards a right decision.

About the Author

An expert contents writer, currently associated with a  car rental company.