4 reasons to invest in Doral

Doral has become a very culturally diverse city, where more than 75,800 people live, according to the last census carried out in 2020, compared to the 45,000 reflected in the 2010 census. Undoubtedly, there are several reasons to invest in Doral, since its growth is only advancing.

 

According to Mayor Bermúdez in an interview for the Doral Family Journal, “Strategic location, diverse economy, low taxes, and quality of life are key factors that continue to drive Doral's smart growth and prosperity.”

 

If you are considering your reasons for investing in Doral, you must take different variables into account. The main ones are: location, the growth of the local economy, the diversity of properties, among others.

 

Keep reading and find out.

 

Location

Doral is 15 minutes from Miami International Airport, and 12 miles from Downtown; it is also surrounded by the Dolphin Expressway or the Palmetto Expressway, which makes it a city with a privileged and strategic location.

 

Doral growth

One of the main reasons to invest in Doral is the growth in all areas of this city. From the last census carried out, quite interesting data was obtained that shows that Doral has become a city and is no longer a suburb. It is not just the population growth in recent years, but this other type of data taken from the Doral Family Journal:

 

·         According to figures from the Miami Association of Realtors, in 2021 and “taking as an example homes with prices up to $500 thousand dollars, the total inventory in Doral is 514 properties for sale in the secondary market, compared to 1,369 that were available on this same date in 2020 and with the 1,315 that were being sold in 2019”.

·         Mortgage rates have fallen in the case of buying and selling. According to the Federal Housing Mortgage Loan Corporation, interest rates during 2021 have been between 2.74% and 3.08%, compared to 3.11% in 2020, when they had already begun to decline and with 3.94% in 2019 and 4.54% in 2018.

·         82% of the population under 65 have health insurance, which is directly linked to the average family income, that in Doral is located at $ 77,493 per year.

·         91.4% of the population have a high school degree and 51.9% of the inhabitants have a university diploma or higher.

 

 

Diversity of properties

The diversity of properties is another reason to invest in Doral. There are modern projects and traditional projects, in addition to luxury condominiums. You can live in gated communities or in multi-story buildings, not counting the variety of prices that offer multiple options and are attractive to many types of investors.

 

Check out our website and see the options we have for you.

 

Multicultural city

Doral is a multicultural city. 85% of its residents are Hispanic or Latino, and 88% of the residents speak a language other than English at home. It is a city that has attracted people from other countries and has become their home.

 

If living in a multicultural area appeals to you, Doral is for you. You will surely learn a lot about other cultures, you will see that the gastronomic offer is diverse (and let's be honest, delicious), and it’s full of cultural events that will keep you entertained and in constant motion.

 

These reasons to invest in Doral are additional to the benefits as a city that we have already mentioned on other opportunities: such as parks, sports facilities, impressive gardens, malls, and good schools for your children.

 

Living in Doral is a great experience.

Doral by the numbers

An enviable Health Care System, one more reason to move to Doral!

Everyone who has visited Miami and its surroundings has seen a Jackson Health related institution. There are over 30 of them distributed across the whole Miami Dade County, and even after almost 100 years since the first Hospital opened its doors, they are still growing and now plan on opening a new Urgent Care Center in Doral.

The city of Doral has a 60-year history of growth, entrepreneurship and endeavor, and it’s funny to think it all started with a golf course and a hotel. Now it has become the best place in Florida to invest in Real Estate, it welcomes thousands of visitors every year and it has a vast multicultural community.

Being one of the cities with the highest growth rate in the U.S., the health care system cannot be left behind, and at Jackson Healthcare headquarters they know this. This is why for this 2017 they are investing the initial sum of $2.9 million in a new Urgent Care Center located in a leased storefront at 7400 NW 104th Ave. in the Doral Commons shopping center, co-branded with Jackson’s medical partner, the University of Miami Health System. They’ve also announced a plan to build a medical campus also in Doral on 27-acres parcel located at 7800 NW 29th St. with an estimated cost of $253 million.

With amazing facts like the low unemployment rate (down to 3.7%) and over ten Colleges, Universities and Technical Schools, 10 artistic-expression schools and multiple public, charter and private (grade “A” status) schools, we can actually say Doral has it all, but you’ll still need to experience the welcoming atmosphere, the beautiful green spaces, the many activities available, and of course the warm people (from everywhere around the world) to really understand what a globalized city feels like.

            

CityPlace Doral

CityPlace Doral is an incredible mixed-use project that Suffolk Construction and Related Groups and Shoma Homes have been developing. CityPlace is projected for people to live, eat, shop, work, play without having to go far, just everything  in one place. The first good news is: its first phase was recently inaugurated!

This part of the project features luxury condos, apartments, single family homes, and about 250,000 square feet of retail space. It’s also the only place with a Fresh Market in Doral. CityPlace is distributed into two eight-story residences buildings facing each other and a “boutique boulevard” on street level, which features fashion-forward shops.

As for its retail tenants, CityPlace Doral features more than 30 bars and restaurants, a CinéBistro Cobb Theater with full-service dining during movies, a Kings’ 10-pin bowling, Pie Bar, Salsa Fiesta, Mixtura, Angelo, Tommy Bahama-Island, Cooper’s Hawk, Burger & Beer Joint, Sushi Siam, and Cabo Flats. CityPlace Doral is oriented not only towards a great and high life quality, but also an entertaining one.

One of the greatest things about CityPlace Doral is its location, which is at walking distance from Oasis Park Square and CityPlace Dora’s The Manor. Basically, this first phase has it all for its residents.

Phase I will be complemented by Phase II, which is also a combination of retail and residential development. It will include 300,000 square feet of retail development, 280,000 square feet of           Class A office space, and 303 apartment rental units. Its retail development will include entertainment, restaurants, spa, fitness, and retail space.

The second good news is: Phase II is on schedule for completion by the end of 2016!

The White Course and Downtown Doral South

On this real estate cycle, the Doral submarket has shown to be very dynamic. Every day the housing demand increases in Doral. This area in Florida is now undergoing transformation with new constructions. Some of these constructions in Doral are Shoma and the Related Group mixed-use project, CityPlace Doral, and Sergio Pino’s mixed-use development, Midtown Doral. But one of the most recently announced ones is Downtown Doral South, which recently acquired and incorporated the White Course spaces to expand their project.

Lennar Homes and CC Homes acquired the former golf course in Doral, the White Course, for $96 million. The White Course, located in the northeast quadrant of Northwest 41st Street and Northwest 87th Avenue, will be used in the development of Downtown Doral South. Its 130 acres will be used for the expansion of this project, which will feature 2,209 residential units, 150,000 square feet of office space, 30,000 square feet of retail, seven acres for civic and school use, and 17.6 acres for an amphitheater and public recreation areas. The plan will not give developers the ability to transfer density and uses between the White Course and the original Downtown Doral.

As for the White Course itself, it will be mainly for residential purposes. It will feature single-family homes and multi-family buildings, a charter school for grades 6 through 12, assisted and independent living facilities, and a medical building. The White Course will have about 390 single-family houses and 90 townhouses. All of them will be connected by a linear greenway and a paseo for the new public spaces and amphitheater.

Now, we just have to wait for this amazing project, now expanded, to take shape. The development of this project must begin within 10 years, according to the CBRE offering. The agreement is in place for 20 years and was part of a court settlement between the former owner and the city. Also, the intention of the project is to develop the White Course respectfully and complementarily to Downtown Doral, which is what Doral’s residents want.

Investment at Modern Doral

Modern Doral is an area with lots of benefits. It is at a 10-minute drive away from the International Airport of Miami, it has the most remarkable schools in the area, and it’s very close to restaurants and malls. At Modern Doral you can easily find anything you need and want. This area is usually known for being comfortable and modern at the same time.

This property is located at 9730 NW 74 TE, very near the American Kestrel Lake. It is a perfect house for a big family; it has 4 bedrooms upstairs and 1 full master bedroom (with its private bath) on the ground floor. Sharing bathrooms will no longer be a problem; this house features 5 full bathrooms. It has a porcelanato floor on the ground floor and laminated wood on the second floor. The kitchen is made out of top-of-the-line appliances and the entire house has exquisite finishes. You will feel the luxury when living in this property.

When thinking about investing on a property, one should take into consideration the location and the house layout. This property has it all! It is in a very centric zone and is the perfect combination between comfort, elegance, and coziness. You can acquire this 3147 square feet property for the price of $895,000 –or $4,800 per month. This is the perfect opportunity to live at Modern Doral!

What is So Great About Doral

With the New Year underway, it seems that most people have a fresh attitude about everything in general.  Included in that is the economy as well as the real estate market.  All of South Florida is recovering and even rebounding including Doral.  Even though Doral real estate did not take the beating that the rest of the state took, it did hit some stumbling blocks. 

Since last year residential and commercial developers have been back in the water and working hard to finish projects and even begin new ones.  There are several projects under construction with more in the pipelines to the point that it begs the question, “what is so great about Doral?”

Doral’s Greatest Attributes

Doral has a ton of attributes that draws people to the area whether as a permanent resident, one that lives here part of the year or an investor seeking opportunities for rental properties.  To highlight some, here are a few of the main reasons Doral continues to grow in popularity.

Location

Doral’s location is ideal.  Located just west of Miami, it is very close to all of the major thoroughfares in and out of South Florida.  On top of that, Miami International Airport is at its back door which makes the city perfect for those who spend  a lot of time here on business or who work for any of the major companies headquartered here like Carnival Cruise Lines. 

Golf

First and foremost, in terms of golf, Doral is the home of the WGC Cadillac Championship that brings the likes of Phil Mickelson, Tiger Woods, Bubba Watson and other top players to the area each spring.  After undergoing a major overhaul, the Blue Monster Course (site of the aforementioned WGC tournament) at the Doral Golf Resort and Spa is unlike any other in the area.  There are also other fantastic courses throughout Doral and within a 30-minute drive making it the perfect place for die-hard golfers to settle.

Real Estate

One, if not the best, reason that so many end up in Doral is because of its affordability.  Doral real estate is very enticing because of the size of home for the price.  Because the city is so close to Miami, many buyers elect to live in Doral to get more bang for their buck.  In fact, within the first two weeks of January, over 30 homes have already sold.

Developers are knee-deep in Doral projects with several under construction and more in the pipeline.  Some of the newest communities include Vintage Doral, Downtown Doral and Midtown at Doral.  The architectural style of the homes in our communities varies from Mediterranean to contemporary designs which make for more appealing options for buyers.

Many Reasons to Invest in Doral

Developers see the benefits of investing in Doral which is noticeable by the new neighborhoods under construction.  For investors, first time buyers, retirees and others, Doral real estate is an excellent investment worth strong consideration.