As investors look to expand their portfolio with sure bets, an exciting opportunity awaits. Downtown Miami is becoming one of the most thrilling real estate markets in the United States. As it expands with innovative buildings, investing in pre-construction projects can provide a lucrative ROI for you, whether you’re new to investing or have been doing it for years.
Filled with gorgeous views, year-round warmth, sandy white beaches, and ethnic flair, this city on the sea is getting a rebirth, specifically of towering residential and office buildings. These buildings are being created with special attention to what millennial business people, buyers and renters are looking for in their spaces, and also using unique architecture to add to Miami’s beautiful skyline.
Some of the most impressive new towers under construction in the city include:
- The Aston Martin Residences. At 66 stories and 818 feet, this will become the second-tallest building in Miami, and the tallest for residences.
- Waldorf Astoria. 100-story tower located in Downtown Miami across from Biscayne Bay (over 1000 feet high, tallest building South of NY)
- Baccarat. Spectacular 75 story waterfront tower, residences ranging from 1300 to 7000 sqft and from 1 to 4 bedrooms
Why Investing In Pre-Construction Is A Good Idea
Investing can be scary in these times. But real-estate, particularly multi-family or multi-tenant real estate, tends to continue to be a steady possibility. Investing pre-construction real estate has many benefits for savvy investors, and is just as good for the less experienced. Some of these reasons include:
- Lower prices. Investing in a project before it takes off means you can get in on the ground floor, so to speak, without spending a lot of money. With all of the projects Miami is developing, you can have your pick of interesting pre-construction investments.
- Higher returns. There will always be a need for housing. Additionally, we’ve seen that businesses are not sticking to the work from home model developed during the pandemic. This means offices are not going out of style any time soon. Investing in pre-construction of multi-tenant buildings will mean higher returns and more income stability for you when the building becomes active. With the number of buildings going up in Miami, there are many options for you to see a significant ROI, and fast.
- Millennial needs. Millennials have specific needs, and are typically looking for more modern and unique spaces. This means the building you’ve invested in is likely to fill up fast. And contrary to popular belief, Miami isn’t all senior citizens. The 2010 census found that the average age of Miami residents was about 40 years old.
- Safety of the market. Many types of investments bring significant risks, especially given the complexities of the recent recession and pandemic. As investments go, real estate is among the safest options. With Miami in particular, the resident market is particularly active given the number of people who retire to warmer climates.
There’s no doubt that getting involved in the pre-construction market in Miami is a fabulous investment. Make sure you get specific advice from an expert, then dive in!
