Property markets around the world are very different, with some trends and technologies present in one market and not present in others. Miami’s market, one of the hottest in the United States, is no different. A new report from Bisnow outlines what to look for in 2019 and we highlight relevant trends for the residential property market in South Florida
Despite bubbles bursting elsewhere in the world, it looks like the region’s real estate market will remain relatively stable. New projects will come online this year and forthcoming years. Thousands of condo and rental units are being built and delivered and there’s no slowing the optimism of developers and international investors.
Luxury Will Power The Market
While there may currently be more sellers than buyers, the influx of luxury developments, like the Aston Martin Residences, will likely draw out wealthy investors and buyers from South American countries. Mexico, Brazil and Columbia’s economies are stabilizing, sending a new wave of overseas buyers to buy up Miami’s condo stock. This will drive future towers, which are expected to be even more extravagant and luxurious than previous generations.
Sustainability and Wellness
Many insiders suggest that luxury developments won’t simply have expensive accents and details, but that ‘luxury’ brand will expand to include lifestyle developments, like wellness and sustainable features. For developments that have been including amenities like spas and full-service gyms, their premium will increase.
Interested in investing in the South Florida market? Copperstones is the exclusive UK agent for the Aston Martin Residences in Downtown Miami. Contact us today to learn about your options.