Why Savvy Investors Are Flocking To Florida

Estimates suggest that 1,000 people are moving to Florida each day, with most of them heading to South Florida. For developers and investors lured by the meteoric growth and favorable business conditions, it’s crucial to quickly grasp the region’s key players, its culture, and its challenges.

But getting to know Miami-Dade, which is comprised of 35 different municipalities—and, in turn, home to countless charitable, cultural, and civic organizations—is a complex undertaking, to say nothing of understanding Broward and Palm Beach counties to the north. Additionally, successful projects in South Florida feature a cast of characters, including contractors, architects, brokers, and consultants, each of whom likely has deep ties to and successful track records in the area.

Understanding the region’s complexities and players is important, especially for developers and investors keenly focused on not missing this moment.

Developers and investors in South Florida will likely tell you that this boom period is different. To start, this growth is both commercial and residential—with central business districts and condos rising in value and demand at the same pace as suburban-style homes. Also, the current rush isn’t driven by a single industry: multiple sectors—notably tech, hospitality, private equity, and finance—are contributing by relocating their companies and personnel to the area.

The investments also aren’t originating from a single geography, such as Central or South America. Florida in 2022 is attracting equal interest from investors across the US and around the globe.

Two other factors—Florida’s climate and its tax advantages—also are not new and indeed may get too much credit for the current boom. The state’s climate has certainly become more of a draw as a global pandemic makes being outside more attractive. And the area’s tax benefits were made more advantageous after the passage of the Tax Cuts and Jobs Act, as were changes to state and local tax deductions in recent years.

With all of this as a backdrop, and as 2022 dawns, law firm Bilzin Sumberg wanted to help out-of-state and overseas developers, lenders, and investors looking to maximize their interests in the Sunshine State by sharing insights into key legal and business considerations at the heart of surging interest in Miami and its environs.

Download Bilzin Sumberg’s 2022 Guide to Developing and Investing

in South Florida Real Estate