Investment in Miami Foreclosures could prove beneficial

Miami foreclosures are increasing, bringing the city to eighth position in the country in terms of foreclosures. There are more than twenty-three thousand condos for sale due to foreclosures, making the least affordable city a home for all economic groups of people.

There are several reasons why the investment in Miami foreclosures could prove beneficial to the buyer:
•    Miami is one of the largest urbanized cities in US behind New York City, Los Angeles and Chicago only.
•    It is the most populous area in Florida and recognized as a global city because of its growing commerce and international trade, finance, arts, entertainment and media.
•    UBS study reveals Miami as the third richest city in the US and 22nd richest city of the world.
•    According to the Globalization and World Cities Study Group and Network (GaWC), Miami is considered as the “beta world city”.
•    The city is home to many large companies’ headquarters like Alienware, Univision, Bacardi and many more. It also serves more than 1400 headquarters of Latin American operations.
•    Also an industrial center especially for warehousing and stone quarrying that opens the job prospects for many. The city is responsible for military operations in South and Central America.
•    The city is home to several prestigious private schools such as St. Hugh Catholic School, St. Theresa School and many more. Public schools in Miami are regulated by Miami-Dade Country Public School, the fourth largest school district in US. Some of the nation’s best high schools like Design and Architecture High School are also located there.
•    The city has wide scope for people attached with entertainment industry because Miami is an international center for popular entertainment in film, music, television, performing arts and fashion.
•    The historical and worlds most glamorous, Art Deco is located there.
•    Large concentration of international banks can also be seen at Miami’s financial district, Brickell.
•    Since 2001, the high rise building boom with more than fifty skyscrapers has brought the city on third rank after New York City and Chicago.

Investment in Miami foreclosures could also prove beneficial because it is the good place to live from health point of view. In 2008, Forbes magazine has ranked the city as “America’s Cleanest City” for safe drinking water, greenery and high air quality, recycling programs and clean streets.