6 Best Miami Areas to Buy a Property as an Investment

Many consider buying a property in Miami as a way to invest. At the same time, someone plans to buy a house or apartment to rent it out, and someone wants to buy housing for their family. In each of these cases, it is necessary to search for an area where the cost of housing over the years will not only not fall, but also grow.
It can be compared to buying a car. Everyone understands that when buying a new car from a car dealership, over time, the cost of a car will become much less. Thus, it is necessary to choose an auto that will hold its value. Mercedes SUVs have continued to lead the way in this regard over the past 5 years. Due to their technical characteristics, as well as comfort, many people prefer not only to buy such a car but also to rent SUV while on vacation. Mercedes SUV price in UAE pleasantly surprises travelers with its affordability. Car rentals offer many comfortable SUVs of recent years for rent. Thus, many prefer to use weekly or even monthly rentals.
The same goes for buying a property. You don’t want to buy property in an area where property depreciates over time. Many areas in Miami are seeing a steady growth in  real estate.

Coral Gables

One cannot but agree that this area can be called the most beautiful part of the city. At the same time, the numbers also prove that this area is the best. Last month’s rent was about $3,300 a month. However, many may be put off by the fact that last month the average purchase price was about $735,000.However, it should be borne in mind that the cost of local housing has only increased in recent years, so you will not be mistaken if you choose this area for buying a home as an investment.

Buena Vista 

Many experts believe with complete certainty that this is the next big thing in the rental industry in the city. This is a beautiful green area, located close to the city center, so there is no doubt that for many people this area will be convenient for living. Now, on average, the rent is about $1,150, and you can buy a home for about $393,000.

Edgewater 

This area may not seem the most attractive at first glance, but you should take a closer look at it. It has everything you need for relaxed family life: many leisure activities, numerous cafes and restaurants, and other establishments. In addition, now it is actively developing, so we can assume that this year it is one of the best options. The average cost of rent is $1,800, and now you can buy a home for as little as $175,000.

Northeast Coconut Grove 

There have been many renovations in the area in recent years. Now it is home to many fine restaurants, youth bars, chain grocery stores, as well as popular hotels. Its attraction lies in the fact that one of the universities is located nearby, where thousands of foreign students study. And many of them prefer to live off-campus. Finding tenants would not be difficult at all. On average, the rent is about $1,800, and you can buy a property for an average of $415,000.

Downtown Miami 

There are many different companies located in this area. Thousands of company employees need housing, so finding tenants will be easy enough. At the same time, people need not just housing with a bed where they can sleep, but we see a high demand for comfortable and luxurious apartments. The cost of housing does not show any particular growth, but it obviously will not be less than the market ones. The cost of rent on average per month is about $2,000, and the cost of buying a home is about $340,000.

Brickell 

This place is home to a huge number of young professionals, whose age ranges from twenty to thirty years. People live in high-rise buildings, where the cost of buying a property is about $316,000. On average, you can rent housing for about $2,200 per month. At the same time, in recent years, the rent has remained quite stable.

Conclusion 

Miami has a variety of neighborhoods where housing holds value. That is why if you are considering buying a property as an investment, then you have a large selection of areas. Each of them offers high-quality infrastructure, which is important for tenants.