As an apartment investment market, Miami has its pros and cons. Strict building codes, high insurance premiums, and the threat of natural disasters are among the latter.
However, a new report from Freddie Mac on the area concludes that many residents and investors believe that the potential after-effects of climate-related disasters are well mitigated to justify that uncertainty as well as the higher cost of living.
Those challenges nonetheless are worth spelling out. The International Code Council, and the Insurance Institute for Business & Home Safety rank Florida as having the strictest building codes in place, "but that doesn't mean more affordable housing can't be built," Freddie Mac said.
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