Recently, Doral was named the best place to invest in real
estate in the state of Florida in a study conducted by Nerdwallet,
a consumer advocacy group that specializes in empowering people to manage their
money wisely. In the study, Nerdwallet looked at the market health, taxes,
10-year housing price change, vacancy rate and price per square foot. When it
came to tallying the numbers and ranking the cities in Florida, Doral rose to
the top.
Highlights of Doral
When you think about the fact that Doral was incorporated a
little more than 10 years ago, it is amazing to realize all that it has to
offer. To quickly emphasize some of the outstanding highlights of Doral, here
are several reasons why Doral ranked first.
- Affordability compared to the surrounding communities like those in Miami
- Low unemployment at only 4.5% compared to the state’s rate at 5.8% (Homefacts, January 2015)
- Growing population (expected to hit 80,000 in the next five years)
- Increasing home values
When you look at all of these statistics, it makes Doral
look that much more appealing.
Doral Real Estate
The Doral real estate market is on the rise. When the entire
real estate market crashed several years ago, everything around Doral seemed to
be taking a nose dive in terms of property values. While they did drop, the
home values within Doral still maintained much less of a drop than other
surrounding areas.
Now as the market has shown continued growth over the past
few years, Doral is expected to continue its climb while still maintaining a
much more affordable cost of living than many of its Miami-Dade counterparts.
Real estate developers like Shoma, the Related Group, Terra
Group and others have put their faith in the growth with new residential and
mixed-use communities like City Place, Downtown
Doral, IVI
Doral, Vintage Estates and others under development.
Still with these fantastic neighborhoods in the works, the
established communities that have been here through thick and thin remain
popular and highly sought-after neighborhoods in which to live. Among some of
the best are Doral
Isles (have you seen the community amenities, specifically the pool?),
Doral Estates, the
Reserve at Doral, Doral Cay, and others.
Housing is much more affordable especially when you compare
what you can get in Doral versus other area communities. For example, in Doral,
$500K buys a nice four-bedroom home in a Doral Isles or Islands at Doral
neighborhood as well as a brand new three-bedroom unit in 5300
Paseo (Downtown Doral’s newest condominium under construction) or a
spacious four-bedroom townhouse at the Reserve at Doral. In other parts of
Miami-Dade, properties of this size may list for much more depending on the
location.
A Lot to Offer
Businesses find Doral to be an ideal location especially in
the area of importing and exporting or travel as the city is centrally located
close to major thoroughfares, Miami International Airport and the Port
Authority. In fact, Carnival Cruise Lines has its headquarters located in Doral
because of its close proximity to the ports and its affordability.
Buying real estate in Doral and more importantly, living in
Doral just makes sense. Families like it because of the excellent Florida
schools (A-ranked), part-time residents like it because of its proximity to
some of the best golf courses in the country and businesses like it because of
the ease in getting to it as well as other parts of Miami-Dade County.
Doral has a lot offer those who live and visit here. The
next few years are going to be big ones and we cannot wait for the magic to
continue.