Office building owners have it tough nationwide, but in South Florida the migration of companies to the Sunshine State coupled with limited trophy office supply should send rents higher. Limited land for new beachfront projects in Miami-Dade County will propel developers north to Fort Lauderdale and vicinity. And the countries of origin acquiring South Florida real estate will continue diversifying beyond South America.
These are among many predictions from South Florida-based real estate experts this month as they consider the impact of the pandemic-era boom in the South Florida real estate market and what it may signal for the post-pandemic years.
According to a recent article published on Robb Report, the Miami high-rise features a Solar Backbone, panes of glass embedded with solar technology.
It seems the future of sustainability is here, at least at Miami’s newest solar-powered high-rise, The Residences at 1428 Brickell. The project, recently announced by developer Ytech, is the first project of its kind in the world to integrate photovoltaic glazing within the facade.
The 70-story tower, designed by Milan-based ACPV Architects Antonio Citterio Patricia Viel, combines form and function with the solar energy features blended within the architectural aesthetic. The building features 500 photovoltaic-integrated windows on the west-facing facade that creates a Solar Backbone on the building.
The Residences at 1428 Brickell is currently accepting reservations with a five percent deposit and is set for completion in 2026.
According to a recent article published by Fortune, the sunny state is popular for its warm climate and no income tax, making it a haven for wealthy individuals. Largely for this reason, it has taken in more high-income earners than any other state, according to a new analysis from SmartAsset. IRS data was analyzed to measure pre-pandemic net migration patterns from 2019 to 2020 from which we can see that American families earned on average over 200,000 $ per year.
While some left Florida during this period, many moved in, creating a net influx of 20,263 high-income families. That's nearly four times the number of families in seniors in the second most popular place: Texas, which saw a net migration rate of 5,356 families.
The city of Miami was voted one of the 50 extraordinary destinations to explore by the famous TIME magazine.
According to ESPN, “Miami is becoming America's wellness and leisure capital. The inaugural Miami Grand Prix in May drew a spectacular cross section of VIPs and celebrities to witness Formula One stateside, making the city feel, according to ESPN, like ‘the center of the sporting universe.
Time also mentions the recent avalanche of hotel openings and new restaurants in the city, including the playful Moxy Miami South Beach, the dual-branded AC Hotel by Marriott and Element by Westin in Brickell (the two share a fitness center and a rooftop pool), and the Art Deco Gabriel South Beach, Curio Collection by Hilton, which is powered exclusively by renewable energy.
Miami joins Portland, Park City, San Francisco and Detroit as the only five cities in the United States to be rated World’s Greatest.
TIME says it compiled the list by soliciting, “nominations of places from our international network of correspondents and contributors, with an eye toward those offering new and exciting experiences.”
The market was exceptional for investors in 2021, but is the Florida housing market still a smart investment for 2022? Based on the most recent reports from Florida Realtors, the answer is a "Yes!" »
Miami-Dade County real estate ended its historic 2021 with a myriad of year-end records, including a record for the most home sales of all time and the highest dollar sales volume.
Miami's bubbling real estate market, fueled by domestic and international home buyers, ended 2021 with 39,394 home sales, up 49.5 TP2T from 26,345 transactions in 2020. Volume Miami dollar sales reached $30.3 billion in 2021, an annual increase of 103.4 %.
Miami-Dade County home values have increased by 24.5 TP2T over the past year and will continue to rise over the next twelve months due to the imbalance between supply and demand.
In April 2022, real estate in Miami set a new record by reaching the 7th highest monthly home sales in history. Miami-Dade County saw 3,445 home sales, with a local economic impact of more than $311 million. Miami's total sales volume was $2.8 billion in April 2022.
Home values in the Miami-Fort Lauderdale-West Palm Beach area have increased by 28.1 TP2T over the past year. Zillow forecasts a next increase of 16.8 % by April 2023.
What are the advantages of investing in the Miami real estate market?
City ranked #12 in the United States for real estate investment in 2019 (PwC).
High quality investments at an affordable price
High rental incomed
Steady real estate appreciation
Currently in the national top 10% for real estate appreciation
More than 70% of the tenant population
Low property taxes
No income tax
Great Airbnb Rental Opportunities Thanks to Massive Tourism Market
Investing in real estate in Miami will bring you good returns in the long run, as house prices in Miami tend to increase year on year.
Economic Development and Job Growth in Miami
Many people move to Miami for work. Miami is Florida's largest urban economy and has the 12th largest GDP in the United States. The World Cities Study Group has ranked Miami as an alpha city based on level of business activity, human capital, and cultural activity. Miami's unemployment rate hovers around 4 % (before COVID-19); it is currently in line with the national average but often below it.
Miami's massive rental market
2/3 of Miami residents are renters, a rental rate rivaling that of New York. This is partly due to the number of people working in seasonal and temporary jobs in the tourism sector and the low supply of housing relative to demand. A significant asset for investors, allowing them to buy single-family homes to be divided into several units, which can be rented individually.
The latest key figures for the rental market in Miami
As of June 9, 2022, the average rent for a one-bedroom apartment in Miami, Florida was $2,250. This is an increase of 32 TP2T over the previous year. The average rent for a 1-bedroom apartment is $2,250, that of a 2-bedroom apartment is $2,900, while the average rent for a 3-bedroom is $3,675.
Miami is a buyer's market and investors should capitalize on this advantage while it is still there.
Looking for a property in Miami?
Contact one of our BARNES real estate experts in Miami for a list of available properties that meet your specific needs. Our real estate agents who are experts in the real estate market in Miami will carefully select the properties that best suit your needs and your budget.
Located between South Beach and downtown Miami, the Venetian Islands represent a set of six exclusive islands that straddle Biscayne Bay: Biscayne Island, San Marco Island, San Marino Island, Di Lido Island, Rivo Alto Island and Belle Isle.
The history of the Venetian Islands dates back to the year 1913. The original plan for the Venetian Islands was to be a much larger project than it is today, with four islands and two additional roads to be connected. Unfortunately, the Miami Hurricane of 1926 and the end of the Florida land boom of the 1920s interrupted this grand construction project.
Today, the Venetian Islands are home to luxury condominiums, rental complexes, and a beautiful city park where residents can stroll and spend time with their children in multiple parks and green spaces. The islands are connected by a series of bridges: the Venetian Causeway. The causeway and the edges of the islands are famous for sightseeing, sunset walks, jogging, rollerblading, and other outdoor activities.
Lifestyle and culture
Homeowners residing on the Venetian Islands as well as visitors can easily access downtown's fashionable shops and nightlife via the Causeway. Residents therefore live between two worlds, between a tropical paradise offering an island lifestyle, idyllic and relaxing sheltered from the hustle and bustle of city life, and a direct connection to the city center, where the majority of activities and areas of attractions are located.
Over the years, residents have transformed the Venetian Causeway into a sort of neighborhood promenade. It has become very popular for residents to bike, walk, jog and walk their pets, or stop for a while and enjoy the sunset. The Venetian Islands are synonymous with luxury, relaxation, and a restful life with very little stress.
Living on these islands allows residents to enjoy a peaceful tropical enclave in the heart of one of the most exciting and exciting cities in the United States. It's no surprise, then, that these islands are home to some of the most sought-after real estate in the Miami area.
Activities and attractions of the Venetian Islands
Between the hectic activities on the islands, and those nearby by taking the Causeway, the Venetian Islands offer an unparalleled diversity of experiences. Among the many activities available and nearby, it is highly recommended to visit the Standard Hotel for an incredible spa experience or a pool scene overlooking the bay. For a family outing, head to Park West where you'll find the Perez Art Museum and the Frost Science Museum. For unforgettable dining experiences, dine at Sunset Harbor's various restaurants, including Sushi Garage, NaiYara, Icebox Café or La Moderna. If you're into outdoor experiences, bike, run or walk along the Venetian Causeway, and take time to get your exercise in Sunset Harbor at Green Monkey Yoga.
The Venetian Islands Real Estate Market
The islands are purely residential and do not have their own infrastructures, such as schools, banks, or supermarkets. However, they are located within minutes of Miami's vibrant and central neighborhoods, such as Downtown and South Beach.
There are approximately 38,488 residents in the Venetian Islands. The houses or apartments for sale are at the high end of luxury real estate, given the unparalleled quality of life that the islands offer. This area is, of course, a great place to live, but people are also buying properties here for investment purposes. Also, the natural beauty of the Venetian Islands has made it one of the most exquisite and expensive real estate in Miami. Therefore, the islands are also popular with actors and celebrities.
There are many options for apartments to rent or buy, at different budgets. From an architectural point of view, the properties for sale on the Venetian Islands are often astonishing, remarkably constructed and varied. Single-family homes on the Venetian Islands also differ, ranging from huge mansions on large lots to smaller homes on more modest lots. The architecture is eclectic and the housing styles also coexist. 1930s Mediterranean style bungalows, contemporary architectural works of art, plus many homes include amenities such as swimming pools, tennis courts and private gyms… There's something for everyone. If you like to wake up with your feet in the water and watch the horizon in the distance, there are also many beachfront properties with boat docks and breathtaking views. Luxury condos are available on Biscayne Island and Belle Isle, and many residences offer the most breathtaking views that one can imagine.
Interested in buying or renting a property in Miami Beach Venetian Islands?
Contact one of our BARNES real estate experts in Miami for a list of available properties that meet your specific needs. Our real estate agents who are experts in the real estate market in Miami will carefully select the properties that best suit your needs and your budget.
If you are looking for a property to buy in a dynamic, artistic, and value-oriented neighborhood, the Wynwood area may be just what you are looking for. Indeed, Wynwood is known as the cultural, art, technology, and entertainment center of Miami. Located between Edgewater to the east and Allapattah to the west, Wynwood, once an industrial area, has become one of Miami's most sought-after locations for young creatives and entrepreneurs.
Once known as Little San Juan or El Barrio, this neighborhood is a hotbed of Puerto Rican culture, with many immigrants settling here in the 1950s. This cultural diversity is celebrated today and exists through the many Puerto Rican-owned businesses and restaurants. Wynwood is rich in culture and experience and is visited by thousands of people daily. The neighborhood can be subdivided into arts, technology, and fashion districts.
A neighborhood with artistic touches
Wynwood is considered the Miami's hip art district, and regularly attracts art and culture enthusiasts with its massive galleries, colorful museums and miles of murals. Throughout the year, openings and various events take place there, and in December, when the annual festival Art Basel Miami Beach, crowds fond of art invade the city. Every square centimeter of Wynwood is an ever-evolving work of art. However, the history of the district has not always been like this: in just over a decade, this former industrial center housing warehouses and car workshops is now home to the most fashionable galleries as well as the trendiest bars. from Miami. Stroll through the neighborhoods of Wynwood and find your pieces of art among the 70 galleries. Take an afternoon to appreciate the murals, and discover the room: the Wynwood Walls.
Luxury brands, on the lookout for this creative and innovative movement, have also created their own neighborhood within Wynwood: the Design District. All the big names in fashion, interior design, and jewelry can be found there.
A neighborhood with a futuristic dynamic
A rising arrow in the artistic field, the Wynwood district is also and simultaneously destined to become theMiami startup epicenter. The increase in the number of technology and financial companies setting up offices there, defines this district as Miami's new technology hub and pole. This is what the managing directors of DWNTWN Realty Advisors, Tony Arellano and Devlin Marinoff, say, for example. The company says it has participated in more than $350 million in development investments and sales in Wynwood over the past several years.
The artsy Wynwood district attracts california tech companies for different reasons: the beauty of its colorful murals, its eclectic atmosphere or its unique bar and restaurant concepts. Miami's burgeoning tech sector began taking hold several years ago and is bringing a whole new futuristic dynamic to this trendy neighborhood, already home to the premier coworking space The Lab Miami, as well as the coding bootcamp BrainStation.
rubell museum allapattah
Wynwood Dining and night scene
Between the various exhibitions, discoveries and walks, you will find in Wynwood multitudes of restaurants to amazing foods and creative cuisine like Coyo Taco and Joey's Italian Café. If you want to try Asian fusion dishes in a more sophisticated setting, head to Back Door Monkey. To quench your thirst with a drink, head to Bar Alter, and discover an outdoor bar and the terrace of an award-winning and relaxed American restaurant. For a more exotic atmosphere, head to the KYU Bar for an Asian grill cooked over a wood fire as well as sake and Asian-inspired cocktails.
Invest in Wynwood
Wynwood is a vibrant, charming and up-and-coming neighborhood. Located at the epicenter between Downtown and Midtown, the families and active youths take a close interest in this growing district. It is also a neighborhood of choice for families who want to give their children an artistic education. In fact, school children in the neighborhood benefit from the best teaching program for graphic arts, dance, music and photography.
Wynwood's residential neighborhood is also ideal investors. To acquire a real estate property in the residential area of Wynwoodyou should expect to pay between $400,000 and $800,000 USD, but prices vary considerably depending on the property.
This neighborhood is particularly special because Miami quickly made the development of Wynwood one of its priorities by creating new zoning that allows for both residential and commercial density. With Miami being one of the world's capitals of modern and contemporary art, it is quite possible that Wynwood will become one of the world's leading cities for art exhibitions and markets. Within a few years, the area will be populated with residential, commercial and commercial structures or chic restaurants and thrilling entertainment. Therefore, it is very likely that the demand for space will increase significantly, making it a very promising and interesting real estate investment.
The neighborhood features many recent developments offering urban chic for all budgets. There are therefore homes with more industrial looks and primary colors. Among the goods to buy, you will find many condos, of large family homess, as well as lofts located in former industrial hangars. If you're looking for more traditional condos, it's a good idea to do your research in the nearby Edgewater neighborhood, for example. If the house-incubator side appeals to you, and if you want to live in the urban heart of Wynwood, you will find what you are looking for in the Arts District where new apartments are built every month. It is also possible to find some older, authentic properties in Wynwood, such as single-family ranch-style homes or Mediterranean Revival-style bungalows.
Interested in buying a property in Wynwood?
Contact one of our BARNES real estate experts in Miami for a list of available properties that meet your specific needs. Our real estate agents who are experts in the real estate market in Miami will carefully select the properties that best suit your needs and your budget.
Are you looking to move to Miami and wondering which neighborhoods would be ideal to educate your child or start a family? Although Miami is a well-known tourist destination, it is also a great place to settle down with your children.
Here is our list and selection of the best places to live with your family in Miami.
Coral Gables
Coral Gables is one of the most desirable real estate markets in Miami. It has some of the best private schools like Gulliver and St. Philips, as well as incomparable security systems. Also, you'll find many offers for gated and very private communities, making it a popular place for families. Coral Gables is a predominantly single-family home market, but the interest and supply of townhomes and luxury condos has recently increased.
Coral Gables is one of Miami's suburbs, located 20 minutes from downtown Miami and offers plenty of space. This neighborhood is also home to the University of Miami, therefore older kids can graduate close to their homes. If you're considering buying a home in Miami, Coral Gables is a great place to find larger, more modern properties with excellent resale value. The median purchase price is $696,000 and the median monthly rent is $1,412.
Beyond the multiple assets for the safety and education of your children, this neighborhood is full of activities and opportunities for adults. During the heavy summer days, you'll have the opportunity to take a dip in the pool at The Venetian, or play a round of golf at Granade GoldCourse or Riviera Country Club. Spend time with your kids and discover nature's surprises at the Montgomery Botanical Center. The food and dining options are also diverse and varied.
Key Biscayne
Key Biscayne is known as a tourist spot, but also as one of the most expensive areas in Miami. But this neighborhood is also one of the most incredible places to live for families, especially because of its access to local beaches and outdoor recreation. One of the neighborhood's greatest assets is its proximity to the rest of the city: Key Biscayne is about 15 minutes from downtown Miami, making it easy for parents who work in the city to get back and forth. The median home price is $1,034,800 and the median monthly rent is $2,549.
This neighborhood is picturesque with sunny beaches, luxurious boats, and large single-family homes. This family community is also very safe and active, with many residents making the effort to befriend and support each other. Activities are diverse and varied, and families who reside in Key Biscayne enjoy this place for fishing, biking, kayaking and other outdoor activities. The restaurants and dining experiences are also many, and you can order a 12-inch Margherita, Calabresa or Diavola pizza at Tutto Pizza & Pasta, or head to The Ritz-Carlton for seafood, cocktails, and to enjoy the ocean views.
Coconut Groove
Coconut Grove is by far the most popular neighborhood in Miami for raising children and is one of the safest neighborhoods in Miami, with 24/7 police control. Also, this neighborhood offers some of the best private schools in Miami, with institutes like Carrollton or Ransom. Coconut groove offers an ideal experience for families and children. In fact, there are a lot of kid-friendly parks here, which are ideal for family activities.
Additionally, Coconut Grove is conveniently located with quick access to Coral Gables and Brickell and a 15-minute drive to the airport or beaches. Therefore, this is a particularly hot and in-demand market, with single-family homes as well as ultra-luxury condos that can accommodate an entire family. The median purchase price of a home is $592,500 and the median monthly rent is $1,401.
The area is one of the best places to buy a home in Miami and one of the safest neighborhoods in Miami, making it an ideal location for families, who also have the opportunity to enjoy the many activities available. Families enjoy Sundays spent shopping for fresh produce at the Saturday Organic Farmers Market, or walking their pets at David T. Kennedy Park. For unforgettable dining experiences, stop by Monty's Raw Bar for fresh seafood and oysters.
Pinecrest
Pinecrest is also one of the hottest neighborhoods because of its excellent school district and its track record of top public schools like Pinecrest Elementary and Gulliver, one of Miami's most sought-after and prestigious schools.
This neighborhood, located in the suburbs of Miami, is a prime destination for families and retirees. There are large homes with beautiful gardens and luxurious pools. The median home price is $840,900 and the median monthly rent is $1,313.
Once you settle in, you'll have the opportunity to wander through Pinecrest Gardens, where you can stroll through botanical gardens and play on playgrounds with your children. Take time to take them to see the latest movie at the Regal UA Falls Theater, and end the weekend with a picnic in Coral Pine Park. If your kids are curious about new culinary experiences, take them to Flanigan's for a taste.
Other neighborhoods and recommendations include Bal Harbour, with its mix of apartments and large single-family homes, and many public open spaces. Aventura, one of Miami's fastest-growing neighborhoods, is also a haven for families and is full of parks, schools, restaurants, and stores.
Kendall
Kendall, located in South Miami, is a suburb with ranch-style homes and bungalows that offers diverse activities for families and top-notch schools like the School for Advanced Studies, William H. Lehman Elementary and Kendale Elementary School. If Kendall feels a bit more removed, it's still easy for working parents to get to downtown Miami via the Metrorail. The purchase price of homes is $312,800 (median purchase price) and $1,331 for a median monthly rent.
On your weekends or in your free time, shop at Dadeland Mall, The Falls and The Palms. Take time to bring your kids and see blockbusters and animated movies at Regal Kendall Village. Families also enjoy spending time at Sky Zone Cutler Bay, or a game of pick-up and drop-off at Kendall Indian Hammocks Park.
You'll find that Kendall is a great destination for shopping, going out, and having fun - indoors and outside - all in a relaxed and welcoming suburban atmosphere.
Looking for a property for your family in Miami?
Contact one of our BARNES real estate experts in Miami for a list of available properties that meet your specific needs. Our real estate agents who are experts in the real estate market in Miami will carefully select the properties that best suit your needs and your budget.
BARNES Miami & BARNES New York held an exclusive conference on June 2 at the "Riviera Golf de Barbossi", in the heart of the Bay of Cannes Mandelieu.
The conference aimed to present characteristics, opportunities and trends of the 2022 New York and Miami luxury real estate market. Enzo Rosani, director of BARNES Miami & Yann Rousseau, director of BARNES New York shared their expertise and best advice for a successful real estate investment in the US.
Bal Harbour is located at North of Miami Beach. This district is portrayed as a true haven of peace only twenty minutes from the hectic animation of South Beach. Bal Harbour is known internationally and throughout Latin America for itsluxurious shopping center, welcoming major brands such as Balenciaga, Bulgari, Chanel or Chopard, its intimate beaches, as well as its many quality restaurants.
Explore Bal Harbour & Surfside
Elegance and tranquility are the best terms to describe Bal Harbour and its neighboring town, Surfside. Here lies the calm, however, under this discreet charm hides a rich activity of numerous cafes and restaurants, shopping districts of international renown and recurring artistic events.
Bal Harbour is packed with community-focused attractions andtrendy establishments that provide a more atmospheric respondent, more graceful and more holistic. Indeed, Bal Harbour is made up of a close-knit community, whose daily life revolves around the pristine beach, shopping at upscale boutiques, and tasting delicious food at great restaurants.
Life in North Miami Beach
Bal Harbour offers a ultra-private setting and quick access to the glamor of Downtown Miami and South Beach. The whole area is considered very walkable, thanks in large part to its plethora of green spaces as well as its manicured residential area. Surfside is recognized for its shopping district, its community center, its public art exhibition and its bike and walking paths by the sea.
There are many private yacht clubs in this area, such as the Bal Harbour Yacht Club, which has 35 locations open to the beautiful indigo blue waters of Biscayne Bay. The district is also home to many parks, such as the Haulover Park or North Shore Park.
Collins Avenue Surfside offers recreational activity centers, such as tennis courts, bike parks, numerous parks and an innovative community center.
Invest in Bal Harbour and Surfside
The Bal Harbour and Surfside real estate markets are booming expansion. Indeed, according to the Q3 2020 report, condo sales in Bal Harbour were on par with 2019, although prices were up 25.1%. This area is a highly sought after location with a growing real estate market every year.
In recent years, Bal Harbour and Surfside have risen to the top of the luxury real estate market with some of Miami's most modern condos, townhouses and penthouses. In these magnificent habitats, you can live in an idyllic oasis by the water, and enjoy unrivaled amenities or services.
The reasons to live in Bal Harbour
Luxury shopping, pristine beach, tasting delicious food… The Bal Harbour district has many strings to its bow. Indeed, the Bal harbour beach is one of Miami's most pristine and protected, and locals can't get enough of its sugary white sand. The walk of Bal Harbor Beach Walk runs along the beach and is a favorite place to walk, run or cycle.
Bal Harbour's luxury hotels also offer a variety of dining options, and residents appreciate the innovative cuisine at the restaurants in the area. St. Regis Bal Harbor Resort, from Sea View Hotel and Ritz Carlton Bal Harbor.
Luxury in Bal Harbour
The Bal Harbour Shops is a world-renowned destination for shopping and dining. Indeed, this mall is a legendary fashion spot, home to designer boutiques such as Stella McCartney, Alexander McQueen, Chanel, and Gucci. A favorite destination for celebrities, socialites and fashionistas from around the world.
This upscale mall is also the starting point for Bal Harbour's foodie scene. You'll find a wide variety of options here, including top-notch Italian cuisine, chic French cuisine, and innovative Japanese fusion.
For rare and quality purchases, do not hesitate to pass in the downtown surfside shopping district : this high-end shopping and dining district is made up of one-of-a-kind spas, chic boutiques and bakeries.
Schools in Bal Harbour
Students from primary and secondary schools in Bal Harbour and Surfside travel to Ruth K. Broad Bay Harbor K-8 Center, one of the miami dade public schools.
The St. Joseph's School in North Miami Beach, also offers a great program for K-8 students.
High school students from the community have the opportunity to join the Miami Beach Senior High School of Dade County, the very famous AD Henderson University School and the Boca Raton FAU High School.
Properties for sale in Bal Harbour and Surfside
Some of the most exclusive real estate in the country can be found in Bal Harbour. If you are looking for an alliance between luxury, privacy and a peaceful environment, this area is for you. It is in the western part of Bal Harbour that you will find the large houses of the Village of Bal Harbour. This prestigious gated community offers 24-hour care and convenient access to the Bal Harbour Yacht Club and Bal Harbour Marina.
A plethora of luxury apartment towers rise up Collis Avenue, each offering an array of services and amenities. Among the best investments and properties to buy are the twin towers of ocean and their 28 stories above the waters of Biscayne Bay and the Atlantic Ocean, the towers of the St. Regis Bal Harbour which illuminate the sky with their magnificent bronze-coloured reflections, or the Fendi Castle.
In Surfside, the residences of the Four Seasons Surf Club and Eighty Seven Park are essential for investors in luxury products.
Looking for a property in Surfside/Bal Harbour, Miami?
If you are interested in renting or buying a property in Surfside / Bal Harbour, contact one of our BARNES real estate experts in Miami for a list of available properties that meet your specific needs. Our real estate agents who are experts in the real estate market in Miami will carefully select the properties that best suit your needs and your budget.
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