MIAMI’S MASSIVE REAL ESTATE DEVELOPMENT

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Miami is a city of international culture showing massive real estate development. The city is always awake, always ready for the next big thing, from the people who brought unsurpassed success with The Mall at Millennia, the Mall at Short Hills, Beverly Centers, and Summer Set collection. Miami will soon welcome 765 thousand square feet of shopping and dining. Two of the most dynamic retail developers in the world, The Forbes Company, and Taubman bring you the mall at Miami World Center.

Miami is the city of 2,6 million residents and hosts annually 14 million visitors with more than 12.5 million hotel rooms booked each year. Miami’s hotel industry ranks among the best in the world with respect to Miami real estate trends. Headquarters to multinational corporate offices and the largest concentration of domestic international banks including financial institutions and foreign trade offices, Miami is the center of world trade business. Miami World Center, a cosmopolitan development containing more than 20 acres of residences, hotels, offices, and Mall at Miami World Center. Minutes from Miami World Center is the port of Miami, the number one cruise terminal in Miami welcoming nearly 5 million passengers annually. Port will have become even more successful with the expansion of Panama Canal. Miami International Airport is less than 5 miles from Miami World Center serves more than 39.5 million passengers each year it is the second leading gateway to the U.S. Miami real estate trends are basically on the verge of success but it never remains constant.

With more than 5 billion dollars in recent, current and planned development immediately surrounding Miami World Center. The area will become the most vibrant, cultural and entertainment destination in the market. The Adrienne Arsht Performing Arts Center lies directly north of Miami World Trade Center and attract more than half a million visitors annually. The newly opened 220 million dollars Jorge Perez Art Museum welcomed 150 thousand attendees in its first four months. The 275 million dollars Patricia and Philip Frost Museum of Science will amaze and inspire the quarter million visits per year. The American Airlines Arena hosts hundreds of events with more than 3 million guests each year. Just minutes from the site lies the Bay Front Park and amphitheater hosting large events, festivals, and live concerts. More than 30000 students from across the county attend the Miami Dade College. A 700-foot residential tower will feature residential units ranging from 4 million to 35 million-dollar penthouses. The Marriott hotel and convention center include 600000 feet of convention space 2000 luxury hotel rooms. This brings out Miami’s massive real estate development.

 

The first wave of a slowdown in Miami’s real estate trends came in 2016 but heading towards 2017 made it more difficult for investors to start the new projects because they got an idea that sales will continue at a snail’s pace. Sellers are starting to adjust by lowering prices so it is a good year for b users to buy luxury real estate in Miami in lower rates. 2017 will be a buyers’ market according to reports and situations. Miami’s real estate development has crashed and decreased in the coming year.

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