New Yorkers are emerging as one of the top buyers of Miami Real Estate

Jan. 10, 2014 - PRLog -- Foreign buyers continue to flock to South Florida as a hot market for real estate investment, but there has also been an increasing demand from within the USA especially from New York. Notably, in 2012 New Yorkers represented 10 percent of all luxury buyers and but the end of 2013 that increased up to 25 percent.

Miami is synonymous with luxury living offering amazing beaches, high-end properties, glamorous nightlife and the city has become the second home option for those New Yorkers who have residences in Manhattan or the Hamptons. In fact, many are now calling Miami “the New Hamptons” for New Yorkers.

Amity Realty’s market specialists commented that some of the reasons for this increased interest of New Yorkers in Miami include thriving cultural activities such as ballet, opera museums, and art and film festivals and walkable neighborhoods like Downtown Miami and South Beach, which are considered to be in sync with New Yorkers’ “state of mind”.

One of the main financial attractions to invest in Miami real estate comes from the interest in avoiding high state income taxes that are imposed on top earners in New York. By homesteading in Miami, New Yorkers manage to avoid paying those taxes and instead use the savings towards paying a mortgage in Florida.

To learn more about real estate trends contact Amity Realty at 786-220-2512 or by email: info@amityrealtyusa.com

About Amity Realty: Amity Realty is an international network of real estate professionals in US and Europe with extensive experience in delivering unparalleled real estate service to a discerning clientele. Amity Realty in Sunny Isles Beach consists of passionate team of real estate professionals specializing in luxury waterfront residential and commercial properties in South Florida. For more information or to inquire about properties visit Amity Realty online at www.amityrealtyusa.com or contact at info@amityrealtyusa.com