Have you heard of Miami’s new nicknames? Whether it is the “millionaire’s playground” or the “billionaire beach”, it proves one point: Miami has become the go-to destination for the world’s wealth.
After having experienced ups and downs, it seems like Miami is back in the game of luxury and opulence as it was in its Art Deco times. Even more so, Miami Beach is not only appealing to plain-vanilla millionaires but to a true elite of billionaires that are ready to invest in the Magic City. Those who used to only show up once a year at Art Basel have started sticking around to spend their money in Miami Beach. Rightly so, they are loving the weather, relaxing on the beach and enjoying the excitement of the night life. Moreover, they can find their favorite restaurant and shopping addresses from all around the world there as well.
Certainly, Miami catches the ultra-wealthy with its luxury offers but also thanks to its increasingly vibrant cultural scene and its more laid-back vibe. Miami is indeed bringing a quality of life that has been almost unheard of in the rest of the world. An undeniable sense of comfort that makes the elite want to buy condos.
A few billionaires have now called Miami home. They were 2 dozens back in 2013 and the same amount only among the buyers at Porsche Design Tower. Such condo marvels still look inexpensive to those who are used to investing in Manhattan flats at much higher prices. Indeed, ultra luxury condos are selling for $2,800/sqft in New York whereas in Miami you can buy a luxury condo for $1,500/sqft. Here, they can indulge oceanfront ballrooms, floor to ceiling wine lockers, car elevators in their own units, plunge pools and some more insane luxury benefits. The more billionaires Miami attracts, the more elite peers choose to join! Another significant detail is that Florida is the ultimate tax friendly-state as there is no personal state income tax nor state inheritance tax.
The time when Miami was only a grandma’s retreat is long gone. Buy Miami real estate and review your definition of luxury!