The Greater Miami Area continues to garner tremendous international acclaim, welcoming over 14 million overnight visitors from across the globe in 2013 alone. Already set to surpass that number by the end of 2014, the Magic City shows no sign of losing its luster.
Indeed, vacationers are not the only ones flocking to this beautiful and vibrant metropolis. Residents, both seasonal and permanent, are taking an interest in Miami's diverse selection of luxury real estate, as are investors looking to take advantage of the recent property boom.
They have good reason to be excited. At the second quarter of 2014, home prices rose 8.9 percent compared to last year, according to the Miami Association of Realtors. And as of July 2013, homes were on the market for an average of just 43 days. In light of this popularity, homes and condos alike have experienced 37 straights months of price gains up to July 2014.
Yet when compared to other popular world cities, such as London and San Francisco, the median sales price for homes in Miami-Dade County is a mere $245,000 – quite the deal given the standard of living Miami has to offer.
This popularity is well justified. Classified as an Alpha World City, which denotes tremendous cultural and economic influence beyond its borders, Miami stands out in numerous ways: it was ranked by Forbes as "America’s Cleanest City", identified as one of the world’s ten richest cities, and hosts the headquarters of over 1,400 major companies
Nicknamed the "Capital of Latin America" and "Gateway to the Americas", its cosmopolitan culture and vast international networks offer ample opportunities to broaden both cultural and commercial horizons. From the Adrienne Arsht Center – the nation’s second-largest performing arts centers – to iconic new attractions like Wynwood Art District and Perez Art Museum Miami, Miami is quickly coming into its own as a mecca of leisure, recreation, and fine living.
As the leading experts on Miami Beach Luxury Real Estate, The Jills are well-equipped to connect you to the latest and greatest opportunities in this opportune market. To learn more about their vast inventory of premium Miami Beach Homes, contact them today.