New Yorkers Moving to Miami
Numerous New Yorkers tired of paying hefty taxes are finding their way to Miami. Another New York businessman is set to relocate to Miami after buying cash a St. Regis Bal Harbour condo for $6.5 million. The buyer is expected to move his entire company from New York City to downtown Miami. Light, the agent representing the buyer stated that over the last five years, 90 percent of his real estate clients are relocating to Miami. These individuals understand not only the value of properties in South Florida, but also the value of Florida’s tax laws. This relocation practice is becoming more frequent as many New Yorkers are recognizing the new status of Miami as a global city where their business can yield a higher return. The extra bonus tax-free of course is the astonishing pleasant weather all year long!
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