Catherine Rodstein Blog   Real Estate Blog

As a result of the sanctions and subsequent stock market drop, the Russian investors have dropped off significantly according to the panel of experts at the Real Deal's Annual Real Estate Forum and Showcase held yesterday in the Design District's Moore building.

Close to $3,000 attendees received insight into Miami's projections for the future, the current development boom, and the growing pool of international and domestic buyers from leading developers, financial CEO's, brokers, and architects. Domestic buyers have increased, especially from California and New York. Hedge fund managers and their employees are relocating business to Miami largely due to the Florida's favorable tax status, growth potential, and the quality of life. South American and European buyers have continued interest, as the Mexicans have recently discovered Miami. Interest is expected to grow from the Chinese. The expansion of the Panama Canal next year with increased trade expected into the port of Miami from China.

There is $167 billion dollars of wealth projected to be brought into South Florida over the next 10 years. Today's Miami has the second highest concentration of Banks after Wall Street behind Manhattan, according to Forbes Magazine. The texture of Miami has changed and is continually evolving. Downtown Miami has burgeoned over the last few years into one of the most exciting cosmopolitan cities with a new art museum, science museum, performing arts center, and the highly anticipated Brickell City Centre, Miami World Center (above), and numerous sophisticated New Developments in Miami and Miami Beach by the worlds celebrated architects and developers. The upcoming All Aboard Florida link to the new public transportation will make access through Downtown Miami, to Miami Beach, the airport, and surrounding communities up to Orlando very accessible. Click here for a glimpse of Miami by 2020.

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Updated: Thursday, May 23, 2024

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