For the past 10 years, Miami has been facing a speedy cultural development that hasn’t been fully followed by the rest of the World. That is why people improperly think that Miami is not a “serious business city” where you can actually go other than on vacation.
Miami is not only a “cool” vacationing location anymore. A strong cultural identity has been created and “developed” in the last decade. As a citizen of Miami, I have to say that I’ve noticed the whole path that Miamians have been following for the past decade. When I imagine what is Miami now, I have a large list of characteristics that top my head. Art, sports, entertainment, business, food, transportation, and those are just a few to mention. Nonetheless, that is not everyone’s opinion.
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Little have we discussed about to the current Miami condo’s oversupply. There are new constructions in every corner, that have pushed developers to find new ways of differentiating and stepping above their competitors. This new strategy is modifying Miami’s skyline.
Local developers are now outsourcing the exterior design to famous international architects. Buyers have so many options nowadays, that every detail counts when trying to be more appealing to luxury-seekers. From the parking garages and storages till the outer design of the tower, everything counts!
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According to the MLS, the home sales year-over-year has fell in May for the Miami-Dade and Broward counties. This is probably due to the increase of median price in properties in these areas. Palm Beach, however, did make an exception with a slight plunge of price which means that their home sales actually increased. Surprisingly, the market which saw an increase of closed sales in April dipped this month.
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Here is a fun fact: 80% of properties above $1,00,000 in Miami is owned by a non-US citizen. This is a stark contrast from other prime areas such as New York where 63% of them are owned by Americans. Back in to 2017, the foreign buyers has invested almost $7.5 billion on properties all across the United States. Read the rest of this entry »
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With an average of 1,288 international flights per week against 1,287 for JFK, Miami International Airport is became the 1st airport in the US in terms of international flights. Fort Lauderdale airport and Palm Beach are far behind their neighbor MIA with respectively 400 and 12 international connections per week.
So far this year, MIA airport is even breaking records in overall traffic. With 10.2 million passengers during the first quarter, we reach a 9.5% increase. International passengers represented an 11% increase. The main reason to this surge is the addition of new connections. In February LAN Colombia created 4 direct flights Miami-Bogotá per week and Interjet launched daily flights between Miami and Mexico City. Last month American Airlines added a new connection to Barcelona and daily flight to Kingston. Those new services are definitely helping MIA in staying at the top of the US airports list.
So now you have no longer excuses… Come visit us soon at our office located in the Yacht Club at Portofino in South Beach!
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