Just 15 minutes from Miami International Airport is Doral. This city is desired not only by investors but by citizens with a quiet lifestyle, but who never leave aside business. If you are thinking of investing there, today we will show you all the variables to consider.

Why Doral is special

It is a city in Miami County, Florida. According to the last census (2020), more than 75,800 inhabitants arrived in the city in 2021 and more are expected at the end of 2022. Fortunately, the authorities projected this growth years ago and made investments that improved public services, transportation, health, etc.

All this has given the city an enviable stability and quality of life compared to other cities of the same size. Now, if your interest is to invest in this city, consider these variables:

1. Location

It doesn’t matter if your goal is to buy to live, or to rent, the city has an ideal location for you or your tenants. The city is surrounded by the Dolphin ExpressWay and the Palmetto ExpressWay, two huge highways that connect it to the rest of the country. In addition, it is bordered on the North, South and East by the South Florida Metropolitan Area and on the west by the unstoppable Everglades National Park.

2. Growth and competitiveness in Doral

According to the Miami Dade Beacon Council (2022), the unemployment rate stands at 3.1%, almost half the national average. In addition, the majority of the population is of productive age, which fosters economic growth and development.

Additionally, according to the Miami Council (2022), residents earn an average of $78,204 annually, which is higher than the national average.

3. Diversity in the type of properties

Much of the economic engine is in the quality and diversity of housing. Multiculturalism has brought innovation to the sector and has encouraged the creation of more diverse projects.

In that sense, luxury condominiums have gained ground and have positioned themselves as the best option for large capitals.

4. Doral: a good destination for Latinos

The city has welcomed the Latino community with open arms. According to journalist Grecia Romero (2021), the Latino community represents 85% of the total population. For this reason, greater growth is projected in the tourism sector focused on this community. Additionally, the city has an Asian population and other non-Hispanic origins.

All this diversity enriches the culture and facilitates business relationships. In addition, it is strategic for Latin American entrepreneurs who want to do business in the United States, but prefer to do so in their language.

5. Valorization

Being a culturally intermediate city, many people, especially from Latin America, decide on it when entering the United States. Either to migrate or to do business. By the principle of scarcity, this flow of people values the land. That, in the short term, eases the conditions for new real estate projects.

As long as the city maintains the stability that characterizes it, more people will want to live there and more housing will be needed.

Much of the valuation of the land depends on the tourist offer that surrounds it.

The city is the prelude to one of the most iconic natural parks on the planet, the Everglades. In addition, it has seven public parks, including Doral Park, and dozens of sports fields. There you will find from small football stadiums, to a golf course.

Some of the most recommended tourist places by the official site Greater Miami (2022) are:

  • The museum of contemporary art.
  • Sky Zone theme park.
  • One of the 4 golf clubs.
  • Doral Central Park.
  • Miami International Mall.
  • Cityplace Doral.

How much have housing improved?

Although traditional housing has benefited from government investments in recent years, luxury apartments and homes have made the most progress.

The big capitals see in Miami an ideal place to live and invest. Since taxes are flexible, the culture is nice and there are business opportunities.

In conclusion, the city has potential. As long as investment and development plans are fulfilled, more people will want to live there and more investment opportunities will arise. If you are looking for stable investment alternatives over time, or want to live in a prosperous and pocket-friendly city, consider Doral.

References

CENSUS in Miami (2020). Doral continues to grow! Doral Journal. Edda Pujadas. https://doralfamilyjournal.com/doral-continua-creciendo/

MIAMI DADE Beacon Council (2022). Doral, From Everglades to Industrial Center to Hometown Income and Spending. MBDC. https://www.beaconcouncil.com/why-miami-dade/cities/doral/

MIAMI, Greater Miami & Miami Beach (2022). Things to do in Doral. https://www.miamiandbeaches.lat/planifica-tu-viaje/ideas-de-viaje-a-miami/gu%C3%ADa-de-informaci%C3%B3n-privilegiada/gu%C3%ADa-de-doral

Rosemary, G (2021). Time to Celebrate the Hispanic Heritage. Doral Journal. https://doralfamilyjournal.com/time-to-celebrate-the-hispanic-heritage/