Enzo Rosani, director of BARNES Miami, completes the first real estate transaction in Cryptocurrency of the year in Miami

As global consumers begin to move towards new virtual opportunities made available in the burgeoning metaverse, traditional crafts once confined to conventional boundaries are now having to adapt to the changing times. Real estate has been no exception, with the booming virtual real estate transaction scene estimated to top $1 billion in deals by the end of 2022 alone.

Enzo Rosani, Director of BARNES Miami, has just completed the first sale in cryptocurrency of the year in Miami for a property in a luxury residence in the heart of downtown. Located in a skyscraper, the apartment sold for 170 ethers covers 650m² on 2 levels and has 6 bedrooms, panoramic views of Biscayne Bay and access to a private beach.

 “The buyer converted his ETH into a stablecoin (USDC), a cryptocurrency pegged to the US dollar, considered and called a “stablecoin”. We prefer to work this coin over others because there is no volatility. If ETH or Bitcoin loses 70% in one day, USDC will stay at one dollar,” says Enzo Rosani.

New opportunities for the real estate market?

Figures from the past few months put the global cryptocurrency market at a valuation of $3 trillion, a number that is only expected to increase over the next few years. Given its current near ubiquity, many businesses have begun to implement cryptocurrency into their transactional operations, allowing a whole new audience of consumers to participate in the process.

Today, Enzo Rosani, is helping lead the South Florida region into this new normal, leading by example by making cryptocurrency an option for his clientele.

“In 5 years, I think that between 30 and 40% of sales will be made in cryptocurrency in the USA”, estimates Enzo Rosani. The simplicity of the transaction and security are two reasons for the rise of cryptocurrency transactions.

“Sales via cryptocurrencies can significantly reduce the risk of fraud and acquisition costs. There is a significant impact on the simplification of the transaction, the transmission of data and the shortening of the time between the signing of the sales agreement and the delivery of the sales contract to the notary. In addition, because of the sums, we do several tests before sending the funds, always on small sums, and once the confirmation of the lawyers, we send all the funds, ”he explains. "Within an hour, the funds are deposited into the seller's account and can then be resold in US dollars or kept in crypto." Far from the classic deadlines for real estate transactions, which are generally 3 months.

In which neighborhoods can you find a beautiful villa in Miami?

Miami, one of the most dynamic and attractive American cities, also bears the nickname “Gateway to the Americas”, due to its proximity to the Caribbean and Latin America. The city thus has an extremely diverse population, which is reflected in the culture, the lifestyle and of course, the real estate. Miami's real estate market is currently experiencing a real booming  due to the international pandemic. Indeed, everyone wants to enjoy the good life of the Magic city. Recently, many public figures have also acquired a property in Miami: David Beckham at the 1000 Museum, Pharrell williams within Coral Gables Estate in South Miami or even Jennifer Lopez who bought a villa on Star Island in Miami Beach. Not everyone can afford a multi-million dollar property; however, the offer is very varied and caters to all profiles.

Famous for its powerful tourism, aeronautics and cruise industries, the very dynamic city of Miami is posting exceptional economic growth and becoming, on the other hand, the 2nd city with the fastest growing economy in the United States but also the 4th largest economy in the country. The extremely temperate fiscal climate has a lot to do with it since there is no income tax in Florida. So of course, the city is attracting more and more investors wishing to acquire an oceanfront villa or a condo as a second home or simply to invest.

Due to the pandemic, the most important demand currently concerns family houses or villas with land, swimming pool or access to the ocean. Coral Gables, Coconut Grove and Key Biscayne are the 3 main areas with a high concentration of spectacular villas:

Coral Gables

Renowned as one of the most exclusive neighborhoods in Miami, surprises with the beauty and elegant diversity of its architecture, its lush vegetation and a very appreciable cultural program.

Coconut Grove

Bohemian-chic neighborhood, perfect for those looking for a quiet life by the ocean.

Key Biscayne

The pleasure of being an islander just 15 minutes from the Brickell district. This amazing place offers plenty of outdoor activities for the whole family, from water sports to natural cycle paths. Family life is resolutely turned towards nature.

These districts, which have good public or private schools and many sports activities, are currently in high demand and result in the decrease of inventory.

The Miami business center has experienced a very strong growth in recent years, leading to the construction of a large number of luxury condos in neighborhoods such as Brickell, Downton or Edgewater. The offer remains strong in these districts which are still developing very promisingly. Boasting an intense day and nightlife, Miami's business center is expanding to offer luxury boutiques, and excellent restaurants, among other things. With a decidedly urban lifestyle, these districts will appeal more particularly to young people.

Miami Beach

Remains the jewel Art Deco from the city. Heavenly beach for miles, holiday atmosphere day and night and colorful streets help create a tropical atmosphere. Most Miami Beach condos boast a breathtaking view of the endless deep blue ocean and the city skyline.

Fisher Island

Ultra-exclusive island located off the southern tip of Miami Beach, offers hyper luxury to its residents: very high-end amenities such as a private beach, oceanfront golf course, spa, marina and much more.

Miami, which continues to grow, offers interesting investment opportunities through many new projects with delivery dates ranging from the end of 2021 to 2025 and whose prices are between $300,000 and $8 million and more. . Note in particular the 57 Ocean, Arte Surfside or Monad Terrace, in Miami Beach; Aston Martin, Elysium, Missoni Baia, Natiivo or Una Residences, in Brickell; or Mr. C in Coconut Grove. Also note that many Miami properties allow short-term rentals and offer property management services that will make your life easier, whether you are the tenant or the owner.

So, are you ready to invest in Miami?