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Miami Shopping Malls

Miami-Design garage

Miami-Design garage

Miami Shopping Malls

Miami is unique and full of paradoxes: A city chosen by the old to retire and by the young to party. A place where people do business in shorts and 12 year olds wear legitimate Chanel handbags. The land of  beach parties and everyday multimillion dollar transactions where Bentleys coexist with skateboards and a new sophisticated art scene  born in the reign of the kitsch makes a mark in the world.

Miami shopping keeps adding to the list of breaking US records. We are quickly climbing the ladder of the top 5 in many areas, from the number one cruise capital to the most active airport. But without doubt, the most salient feature of Miami culture is a special emphasis in shopping, so we are also breaking records with the mall that sells the most per square foot (Aventura Mall) and now the largest shopping mall in the country: American Dream Miami Mall. The land deal for 82 acres in NW Miami Dade County by Interstate 75 and Florida Turnpike just closed, and Triple Five Group is moving to the next stage in the process of bringing to life this mega mall and theme park. The entire project is 225 acres, impressive size even for Miami shopping standards!

Bal Harbor Shoppes which used to be “the” destination for shoppers that walk in Louboutin shoes is expanding to keep up with the fierce competition for the attention of the privileged few, who are not so few in Miami any more. Aventura Mall has the largest Cartier store in the country along with many other luxury designers. Brickell City Center will allow the financial private banking crowd to shop without leaving the area. The Design District, an open shopping mall valued at $2.2 billion  has a hard to match glamour for those who prefer the outdoor Latin and European shopping style. After all, the temperature is irrelevant when you are wearing Hermes and parking at a garage that is a piece or architectural art. The Design’s District 283,000 ft City View garage wows shoppers from the moment they park  with two public art pieces by John Baldessari and a jaw dropping facade by Leong Leong and Iwamoto Scott.  And of course, for the bargain hunters there is always Sawgrass Mall.

The impact of Miami Shopping goes far beyond a fashionista dream, bringing jobs, infusing life and potential to the real estate around it and creating interesting possibilities for developers and investors. Whether you wear Prada sunglasses or not, if you are serious about investing in Miami real estate, Miami shopping trends are something to watch…

Contact us at buymiamirealestate@gmail.com and let’s discuss intelligent options for real estate in Miami.

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Rent in Miami is not for skimpy pockets

Brickell Condos for Sale

Brickell Condos for Sale

Rent in Miami:

Miami is among the fifth least affordable markets in the whole country when it comes to renting, according to a Miami New Times’ article. The good news is we are up there together with markets like New York and Philadelphia, even higher than San Francisco! How is this good news? It is a good thermometer of the demand. In a market where investors from all over the world are buying properties to park their money with the expectation of covering their expenses and making some money by renting them, it is reassuring to know that rent in Miami is up. As you know, the strength of any market is a function of demand and supply.  This is also an indication that there is a rationale behind the thousands of condos under construction. Even when you see a crane in every block and you think “who is going to occupy all these units once they are finished?”, reality is we are still underserved when it comes to availability for rent in Miami. 65% of Miami residents are renting, even when the cost of buying and paying a loan is lower.

When you look at the purchase price per square foot in New York, Philadelphia and San Francisco compared to Miami, Miami is still on the cheap side. This means that you are buying at a much lower price range than these cities while rent values are pretty high. No wonder Latin American buyers are flying to multifamily properties, apartment buildings and other rental properties like bees in a flower field. According to MDDA (Miami Downtown Development Authority) Miami’s population doubled since 2000 and some areas like Brickell have increased 159% in less than 5 years while the Arts and Entertainment District increased its population by 167% during that period. With a steady population increase like this it is easy to understand how developers keep paying higher and higher prices for land even when the cost of construction is increasing by 1% every month. Data shows we still have some road to cover before we can meet the demand for housing.

If you are looking to purchase properties for rent in Miami, contact us right away. We’ll be happy to share with you market intel and good data to support your decision. After 20 years in the real estate market in Miami, we can help you.

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Skyrise Miami

Skyrise Miami

The sky is the limit will go from a cliche to a reality in 2018 with Skyrise Miami. Since ancient times civilizations and urban centers have had a fascination with having the tallest building as a testimony of their power. Call it an ego trip or a desire to rise from the mundane into the eternal, truth is “the tallest” keeps moving the bar higher and higher from the pyramids to today’s vertical cities, and even with full knowledge that someone will eventually build an even taller tower, developers are still enchanted by the dream of the tallest. Each city has an iconic tallest (for a while) tower that somehow captures its soul: New York has the Statue of Liberty and the Empire State meaning human values and business. Tokyo has the Mori building with arts and ultra upscale shopping, Berlin has the beer tower, Paris has the Eiffel Tower  with a design that is controversial as the French. Miami’s “come play and be happy” spirit will be sealed with the tallest entertainment tower, Skyrise Miami.

Miami is the number one tourist destination in the world. 94 million visitors last year and 127 million expected by 2020 suggest that  Skyrise Miami is the right choice for our very own iconic tower. Tourists estimated spending for 2015 is $100 billion, and we have $5 million cruise passengers. Miami’s population has increased 4,574% in the last century and we are definitely in the world’s map together with the big cities of the world. And since each of them has a big iconic tower, it is time for Miami to have its own. Skyrise Miami will be 1,000 ft high and have restaurants, retail, night club, a 500 seat ballroom, the longest and fastest drop in the world with 650 ft (not for the faint of heart), rock climbing and the most spectacular views among other attractions.

The following video is a courtesy of Skyrise Miami (modified shorter version) and provides a great panorama that goes beyond Skyrise Miami and covers the market in Miami. After watching this if you haven’t yet bought a property in Miami you will be seriously considering it. Contact us to discuss the best options to fit your lifestyle, your goals and your budget.