A residential report from Miami in 2017
20th December 2017
From Daven Wu
Letter from Miami: On the 2017 residential boom
When it comes to Miami, the real estate joke about “location, location, location” may be associated with inappropriately sunny weather and easy access to the ocean. This trifecta explains, we believe, the residential real estate boom that is currently raging in the city.
From South Miami Avenue to Edgewater to Midtown, billboards feature sparkling luxury condominiums and mixed-use buildings, many of which were designed by blue-chip studios like OMA, Lissoni Associati, and Zaha Hadid Architects.
“Miami’s rapid growth is creating a significant influx of new residents who may previously have chosen cities like NYC or LA,” said Carlos Rosso, president of the Condominium Development Division of the Related Group, which is behind a number of new developments like Park Grove, SLS LUX and The Paraiso District. “This in turn leads to more and more high-paying employers, hotels, cultural institutions and first-class culinary options.”
A bedroom in the SLS Lux with 450 residential units by Arquitectonica with interiors by Yabu Pushelberg and a view over the Bay of Biscayne
Each of the city’s different neighborhoods, he adds, has developed a truly unique personality that resonates with different groups of people and residents. Someone interested in a slower, more village-like experience may be interested in Coconut Grove, while someone looking for a lifestyle to live, work, and play may be more interested in South Miami Avenue or Midtown. There is more variety and choice than ever before. ‘
Mast Capital CEO Camilo Miguel Jr., who just completed Louver House, is equally optimistic about Miami’s real estate boom. “Although this is a young city compared to other US metropolises, it has long been considered the gateway to Latin America, but we are seeing that this reputation is developing into something new. The growth of arts and culture in the local community attracts buyers from new and unexpected international markets. This offers an exciting opportunity to create and shape the identity of emerging and even established neighborhoods. ‘
Herewith our selection of the selected residential addresses to which we would like to move.