Located just 15 minutes from Miami International Airport, and 12 miles from Downtown, Doral is the place where everyone who wants to invest in Miami or nearby thinks. This city presents several advantages for investors looking to acquire a property to rent, live or retire.
If you are considering investing in a real estate project in this city, you must take into account different variables. The main ones are: location, the growth of the local economy, the diversity of properties, their projection for the future and their potential for valorization. Here we explain each of them.
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Five unmissable reasons to invest in Doral:
1. An unbeatable location
For people looking for homes in Florida for sale, location is decisive. In most cases, the purpose is to have a resting place that can be frequented. For other people, the goal is to rent and turn the property into a business. Likewise, those who seek to live in the area, must remain in constant movement. This need for mobility makes Doral, surrounded by the Dolphin Expressway or the Palmetto Expressway, an ideal place.
Similarly, Doral is a city that combines the benefits of nature with proximity to the big city. On its west side, the small lakes are the prelude to the famous Everglades. On its northern, southern and eastern flanks it is surrounded by different communities that together make up the thriving South Florida Metropolitan Area. In addition, it has seven public parks and dozens of sports fields.
2. Growth and competitiveness in Doral
“In a short time, Doral has come a long way, gaining recognition throughout the state of Florida as well as across the country. We are without a doubt, the best place to live, work, learn and play!” These are the words expressed by Mayor Christi Fraga, on the occasion of the city’s 20th anniversary in 2023.
Doral is not only the quality of life that residents and visitors can find, but also the business activity that in the last decade has notably attracted the attention of national and international entrepreneurs and investors. And of course, it is not enough to mention the golf resorts that give Doral a special distinctive.
All of the above has led to a sustained growth in the city’s economy. Thus, it is expected that the number of jobs will continue to grow as it has until now in the coming years. This translates into greater economic activity, growth in business opportunities and appreciation of investments.
3. Diversity in the type of properties in Doral
In Doral it is possible to find traditional and modern real estate projects. On the one hand, there are the typical Florida houses; spacious and with garden. On the other hand, luxury condominium projects have been gaining ground. In these it is possible to find apartments in buildings of between 3 and 5 floors, or houses in closed complexes. The truth is that the lifestyle throughout the city is characterized by its high level of well-being. The investment options are multiple and making an appropriate investment decision will depend on the investor’s preferences.
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4. A Paradise to Live, Work, and Retire
96.4% of residents recommend the city as the best to live and work. Likewise, 95.6% rate the quality of life as good or excellent.
The city has all kinds of services and amenities such as medical centers, large malls, golf clubs and venues to practice other sports such as tennis or soccer. Of course, an investment can start to be capitalized before moving to the site. Therefore, many investors decide to acquire their property several years in advance, rent it and when the time comes, move.
5. Valorization
All these factors make Doral a place of potential appreciation for real estate. As long as large corporations continue to settle in the city, and entrepreneurs continue to prefer it as a place to live, the value of their properties will continue to grow. Every day a new investor appears on the scene, because this moment is also a great opportunity.
The truth is that, regardless of the physical characteristics of the property, the place where it is located is what most influences its future value. Columns and walls naturally tend to depreciate. However, if the environment shows dynamism, the soil increases in value. According to Robert Stammers, from the CFA Institute, these are three key factors that influence the valuation of a property:
- The availability of locations in the neighborhoods, as this allows to define the supply of land.
- The average age of the neighbors, which gives clues about the investment and dynamism of the place.
- Real estate and economic developments planned for the future.
Doral is a city that meets the profile of potential valorization. Of course, it all depends on the investment and development plans that are presented. So if you are looking for an alternative with positive perspectives to place your wealth, Doral should be in your considerations.
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References
City of Doral. https://www.cityofdoral.com/about/doral-facts/
CNN Money. (2018). 100 best places to live and launch. Retrieved from https://money.cnn.com/galleries/2008/fsb/0803/gallery.best_places_to_launch.fsb/51.ht
Greater Miami Convention & Visitors Bureau. (n.d.). Doral. Retrieved from https://www.miamiandbeaches.lat/vecindarios/doral
