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  • Writer's picturelarrazannette

Relocation to Miami in 2021

Updated: Apr 12, 2021

Miami is one hot city in 2021, not only because of its subtropical location but because it offers what a majority in the country now wants: good weather, strategic location, competitive home prices, no state taxes, and fun. Yes, fun. After the COVID-19 scare, people are avid for “normalcy,” and Miami offers a life pretty close to that.

When you arrive in South Florida and see terraces full of people, plenty of dining under the stars, bustling streets, and lovely neighborhoods, invariably, people’s reaction is, “I want to live here.”

For long, Miami has been known as the unofficial “capital” of Latin America. South Florida has been a widespread secret for wealthy South Americans avid to have a foot in the United States. Welcomed by a fully bilingual city, their usual investment has been a luxury condo on the water where the family can come and spend vacations. Now, after the pandemic, it seems Miami has become a viable option for many Americans who, having been freed from the rigor of going to the office every day, are now asking themselves, “If I can work from anywhere, why not do it from a paradise like Miami?”

In a recent article of Bloomberg’s Wealth, the publication features that Merrill Lynch plans to double its presence in Miami over the next few years to cater to ultra-high-net-worth individuals’ investments growing exponentially in Florida. According to the article, Bank of America Private Bank added 123 households last year. Texas and Florida are the two big winners after the pandemic. Companies like Oracle, Hewlett-Packard Enterprise, and Elon Musk have plans to move from California to Texas. Miami now joins Texas as a magnet for companies.

For years, different prominent Miami players have tried to appeal to tech companies to move to this city with little success. Now, those same companies are taking the suggestion seriously.

Many New Yorkers have flocked to South Florida during the pandemic, and they are liking what they see, a young city with a diverse culture and a great quality of life.

“Miami has always had the components to make it a global technology hub," says Moishe Mana, an entrepreneur who came to Miami from New York after seeing its enormous potential. "Now that remote work has allowed tech workers and founders to live nearly anywhere, we're seeing an acceleration in Miami's emergence as a leading city for tech." Mana has put his money where his mouth is, investing over a billion dollars in Miami real estate. When he first started investing heavily in this city, people said he had lost his mind. Now those same people call him a visionary.

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