Since its incorporation,
real estate values in the city have kept up with and exceeded real estate
values in other parts of Miami-Dade County and the state of Florida. Property
values in Doral have risen 4.6% compared to the property values in Florida
overall which have only risen 1.1%. Houses for sale at Doral also outperformed
homes for sale in Miami, with Miami experiencing only a 3.7% increase in
property values. According to City Data, loan values
reached their peak from 2004 to 2007 soon after incorporation. After the
housing bubble burst loan values dropped, but have been on a steady increase. PMIC
loans averaged $274,162 in 2009, up from $266,475 in 2008. This is a 1.03%
increase.
There are many reasons
Doral has experienced such a rapid growth since incorporation. The economy is
strong, jobs are plentiful in the area (the unemployment rate has dropped over
2% since 2010), and young families want to take advantage of living in a
vibrant community with good schools and a reputation for being a safe place to
live.
Since its incorporation
Doral has attracted several major employers. Among these are Carnival Cruise
Lines, Univision, and Perry Ellis International. The top three employers in
Doral are Carnival Corporation, Boston Scientific, and Marriott
International. Its close proximity to the greater Miami area is also one of the
reasons real estate in Doral continues to increase in value.
Doral was ranked 51st out
of the top 100 cities to live by CNN Money in 2008 because of its economy and
lifestyle. Doral is considered one of the most prestigious small communities in
the Miami-Dade area. There are many activities for residents and visitors to
enjoy, as well as easy access to the other attractions in Florida. All of these
factors not only contribute to the growth of Doral, but also make real estate
in Doral a hot commodity.
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