Category: #REAL ESTATE IN MIAMI

In 2023, Miami reaffirmed its position as first estate market in America, attracting the attention of foreign buyers in particular. Of all international home sales in the United States, one in five took place in Florida, half of them being concentrated on the metropolitan market of Miami. A report of Miami Realtors points out that homes worth $5.1 billion were sold to out-of-state buyers in South Florida in 2023.

The entire state of Florida recorded $12.6 billion in real estate transactions with foreign buyers, according to a report from Florida Realtors. Miami, which is the focal point, has seen renewed interest from buyers, leading to an increase in real estate prices. Notably, 73 % of foreign buyers had visited Florida two times or less before making a purchase. According to the Miami Realtors report, 6 % of them had never visited the state.

While in previous years Russia and South American countries had attracted attention, other parts of the world have turned their attention to Florida over the past year. Although Germany isn't leading in terms of number of purchases, buyers there have shown new interest in the Sunshine State. In particular, Germany recorded the highest number of web searches for real estate of South Florida in September and October.

Let’s await and discover what 2024 has in store for us.

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The last time Miami was relevant, it wasn’t important. In the 1980s, Miami provided nothing more than drugs, clubs, pastel blazers, jai alai gambling and, most notably, a hit TV show about all four.

But now Miami is the most important city in America. Not because Miami stopped being a frivolous, regulation-free, climate-doomed tax haven dominated by hot microcelebrities. It became the most important city in America because...

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Architect Robert A.M. Stern is best known for designing buildings for the wealthiest New Yorkers. Some of the largest residential deals in the U.S. have been at his towers overlooking Manhattan’s Central Park. Now, Mr. Stern’s eponymous firm is putting the finishing touches on the design for a Miami Beach project that is seeking to entice those same buyers to the Sunshine State. The project will be the firm’s first oceanfront residential building.

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While many early-life athletes shed their requisite gear in adulthood in favor of following a more conventional career path, many of the characteristics integral to sportsmanship like hard work, focus and drive can be easily transitioned into the high-pace environment of the modern business world.

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According to Forbes, the increase in Miami property prices does not seem to be an obstacle for new residents coming from other US states and even from other countries. The “Magic City” has just been ranked among the TOP 10 best cities to live in Florida in 2023. Miami occupied the 6th position in the ranking and Orlando came in fifth place, out of a total of 400 cities approximately throughout the state.

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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.

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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.

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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.

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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.”