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  • Writer's pictureJoseph Snyder

Relocation to Miami in 2021

Miami is a one hot city in 2021, not only because its subtropical location but because it offers what the country now wants; good weather, no state taxes, strategic location, competitive home prices and fun. Yes, fun. After the Covid19 scare, people are avid for “normalcy” and Miami offers a life pretty close to that. When you arrive to South Florida and see terraces full of people, plenty of dinning under the stars, buzzling streets and nice neighborhood, invariably people’s reaction is “I want to live here” not only come on vacation. For long Miami has been known as the unofficial “capital” of Latin America and South Florida has been a widespread secret for wealthy south Americans avid to have a foot in the United States. Welcomed by a city that’s fully bilingual, their usual investment has been to a luxury condo on the water where the family can come and spend vacations. Now, after the pandemic it seems Miami has become also a viable option for many Americans who having been freed from the rigor of going to the office every day under freezing weather, ask themselves if they can work from anywhere why not do it from a fun place like Miami. In a recent article of Bloomberg’s Wealth, the publication features Merrill Lynch plans to double its presence in Miami over the next few years to cater to ultra-high-net-worth individuals’ investors growing exponentially in Florida. Bank of America Private Bank, according to the article, added 123 households last year. Texas and Florida are the two big winners after the Pandemic. Companies like Oracle, Hewlett-Packard Enterprise and Elon Mush have plans to move from California to Texas. Miami joins now 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 but now those same companies are taking the suggestion seriously. Many New Yorkers have flocked to South Florida during the Pandemic and they like what they see, a young city with 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 and saw its huge potential. "Now that remote work has allowed tech workers and founders to live nearly anywhere, we're seeing an acceleration of 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. At first, when he started investing heavily in this city people said he had lost his mind, those same people now call him a visionary.

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