Over the years, Miami has become the number 1 US destination for ultra-luxury real estate and has seen a horde of international buyers converging. The world’s richest 1% often like to have a look at Miami real estate when considering buying a 3rd, 4th or 5th home. Miami attracts thanks to its cosmopolitan lifestyle. What’s more, real estate offerings in Miami are way larger and provide unheard-of luxury amenities. You would hardly find such trophy properties with top-notch services anywhere else.
The good thing about Miami is the combination of financial stability given by living in the USA and the the super-wealthy luxury served on a silver plate. Not to forget that there is no state income tax in Florida. It acts as a double incentive to invest in real estate here. Not only can buyers take the most of the tropical climate, they enjoy an upper standard of living alongside with having access to the best education facilities, financial institutions, shopping and fine dining venues. If Miami has everything you need to settle and live there, it above all embodies the holiday dream place: the beach and the weather take part in enabling all the most pleasant activities, whether it is yachting, golfing or jet-skiing. The arts scene is also getting bigger and bigger, with the absolute mecca for contemporary art that is Art Basel every year in December, or incredible establishments such as the Adrienne Arsht Center or the new Perez Art Museum Miami.
It is true that New Yorkers are a great segment of Miami’s buyers’ pool, but Latin Americans still represent the number 1 investors in real estate in Miami. Why so? Because they would rather invest in our real estate than putting a dime in their volatile economies where recession keeps on striking. Moreover, Miami is quite inexpensive if you compare it to Hong-Kong, São Paolo or Monaco!
South Florida developers have been improving their residence offerings over the past 5 years to create larger properties such as the units at Edition, The Four Seasons, Faena House or Palazzo del Sol. All of them comprise fewer residences per floor and private elevators to make them even more intimate and unique. Miami has the answer to the growingly high demand from the ultra-wealthy!