Miami was ranked by Schroders Global Cities Index for being a prime global location for real estate investment.
Coming in at no. 27, Miami is one of 18 American cities listed in the top 30 by Schroders.
The index utilized a number of factors to identify the most “economically vibrant cities” including the population age 15 and over as a way to gauge demand for goods and services, median household income, retail sales and gross domestic product. The index also factors potential future growth into its calculations and local university rankings.
“We see universities as being critical in powering city economies,” Tom Walker, the co-head of global real estate securities at Schroders, said. “Knowledge-based hubs are growing in economic strength with a positive knock-on to real estate markets in those locations.”
According to Forbes, the index is used by “wealthy, global real estate investors and by institutional firms looking for the best long term value for fixed asset investments.” Shroders is a top international asset management firm.
Out of those categories, Miami ranked highest in retail sales, with a rank of 12. Miami ranked 19th in population, 19th in median household income, 27th in university ranking and 22nd in gross domestic product output.
Miami is already known as a top spot for international property investors, and it’s inclusion on this list won’t hurt that distinction. And while Miami draws inordinately from South American buyers, perhaps inclusion on this list will help draw interest from European investors.
See the rankings of the top 30 cities below.
Source: Miami Agent Magazine