Location Ventures Project Villa Valencia was recently featured in FORBES Mexico article titled “Miami: luxury residences with a superior standard of living and beneficial tax burden”. Touching up on the state of South Florida’s real estate market and why it is a smart and likely decision for the Latin American buyer.
Miami is a paradise. More when you have a luxury residence there, with all the advantages it offers to wealth, investments and lifestyle. It is no longer just being on vacation in that area of Florida, but working in the place where you rest.
The city has always been conceived as the capital of second homes, but evolution has arrived. Entrepreneurs and businessmen with their entire families see Miami as a place to invest and have a calm lifestyle in the face of political and economic instability in Latin America.
“Miami is the city with the highest growth in the United States, due to a beneficial tax structure, since there is no state or municipal tax, which represents significant savings. The standard of living is 110, when in Manhattan it is 220. In addition, there is a 12% tax savings, with a higher standard of living, with properties at a third of the price ”, explains Fernando de Núñez y Lugones, Executive Vice President and Chief Economist at One Sotheby’s International Realty.
“Everyone, in a way, who is able to accumulate their capital would like to buy a property in South Florida to protect their capital. It makes sense, because people who are in their 30s or 50s, today having a property with a stable economy and a solid legal system, is important. At the time of retirement, I have an income in dollars, it is simple for foreigners ”, he adds for FORBES.
Another luxury residence offering is Villa Valencia, a luxury condominium project on the private side of Coral Gables that offers residences with beautiful views and fine finishes.
Regarding the advantages of having a wealth in Miami, Jorge Uribe, representative of Villa Valencia, indicates that “people with high purchasing power want to work where they vacation, so it is a fabulous place.”
“The dynamic is families that move all year round and that has been a big benefit. Political instability in South America helps because they want to move to Miami. It is still a place of immigrants, so the adaptation is very fast. You buy a house, a residence and you are already part of Miami in three months,” he says.
Read more from the Spanish FORBES Mexico article HERE