Now is the Time to Invest in Miami Real Estate
Don Peebles, a South Florida-based developer with projects across the country, recently said this is the best time to purchase real estate in Miami. Prices are not likely to decrease more, he commented during an interview.
Besides the low prices, Peebles said, the recent federal tax law changes are still being worked out.
In 2017, President Donald Trump signed legislation that would increase federal taxes in states that had an income tax. This made it extremely beneficial to live in states such as Florida because it has no state income tax. Trump is in the process of relocating is primary residence from New York to Florida.
Peebles said Miami has a surplus of multi-family residences, and developers have gone above and beyond in the city, because of the increasing competition in a short time, he explained.
Another two benefits Miami has for developers? The atmosphere is business-friendly, and it’s got fantastic weather.