Where did the outgoing president go? I believe that this is a very concerned by people all over the United States and even all over the world in recent times.
As Trump leaves office and returns to his Mar-a-Lago estate in Florida, former 1,000-gold Ivanka and her husband Kushner are reported to be moving into a boutique apartment called The Arte in the rented Miami Beach town of Surfside as a temporary residence, which is reported to rent an average of $40,000 per month. At the same time, according to Realtor, the house in the upscale neighborhood of Kalorama, where the two previously rented in Washington DC, will also return to the rental market, renting about $18,000 per month.
Image source: Freepik
Total volume rose moderately
According to the latest data from Redfin, a well-known U.S. real estate website, Miami's housing market continues to rise modestly. In the current real estate transaction market of the epidemic, the average price of houses in Miami is still 9.1% higher than the same period last year, and the average price of houses per square foot has increased by 13.2% compared with the same period last year. The overall transaction price is basically the same as the performance of the US real estate market in 2020, and the US housing transaction price in 2020 increased by 13.1% in the same period of the previous year.
Across the property exchange market, the median number of days from listing to sale for a single home has reached about 60 days. This cycle is slightly higher than the time period of the overall U.S. property exchange market, which is 30 days.
The Miami market saw 1,520 home sales in 2020, up 16.7 percent from the same period last year. This figure is also basically in line with the US real estate market, with 617,111 units in the US real estate market in 2020, an increase of 20.2% compared with the same period last year.
This market performance can be said to be basically in line with the us real estate market transactions, and it also shows that the Miami market has not experienced any major fluctuations during 2020, and the market performance has been stable.
The largest real estate market in the Southern United States
Miami real estate has a high price-performance ratio, which is one of the more intuitive factors for many domestic and international buyers in the United States to choose Miami. The average price of miami downtown luxury apartments for sale is about $640 per square foot, and the average price of miami beach luxury apartments for sale is about $1426 per square foot, compared with the prices of well-known cities such as Hong Kong, New York, Paris, Rome, Los Angeles and other well-known cities, Miami is no less than the geographical location advantage but the price advantage is far ahead.
According to an ISG report, as of April 2018, the vacancy rate in the Miami market has basically appeared very small, and 83% of the apartments have been sold that year, so for developers this is similar to a "clearance" mentality, and more and more developers are looking forward to starting the next project as soon as possible. In terms of the rental market, the average apartment vacancy rate in most neighborhoods in Miami was only 3.35% between 2006 and 2017.
The UBS Global Real Estate Bubble Index shows that Miami's real estate market is a relatively safe place to diversify your portfolio, buy rental properties, and buy personal homes. Compared to the real estate bubble index in cities such as Toronto, Sydney, London, Paris, San Francisco and Tokyo, prices in Miami are quite reasonable. No wonder Miami is the number one target for foreign real estate buyers in the United States, with four-fifths of the most buying foreigners being Latinos.
The second fastest growing metropolitan area in the United States
In recent years, Miami has not only become one of the important metropolitan areas in the Southern United States, attracting investment from all over the country to Miami, but also as a "small capital of Latin America", Miami has attracted more and more foreign companies.
The tourism, logistics and financial services sectors are a strong driver of economic development in the Miami area, and these industries are second only to the construction industry.
Miami is also becoming a major center for television production and music recording, and is the largest Spanish-language media production center in the United States.
Miami has more foreign banks than other major cities and is home to more than 1,400 Latin American businesses.
FDI Intelligence ranked Miami as the 9th most promising U.S. city and 3rd in its foreign direct investment strategy. Miami's export trade is worth more than $33 billion.
The average population of the Greater Miami area faces an average growth rate of 1.2 percent and needs the right supply of businesses and real estate to cope with demand. Known as the "Small Capital of Latin America," Miami is the third largest immigrant destination in the United States due to its widespread multi-ethnic nature. In terms of receiving international visitors, the Miami area accounts for about 46% of the total number of international visitors to the United States. In the United States, Miami is also a top tourist destination, tourists from all over the United States to Miami, these native tourists accounted for 26% of the total number of domestic tourists, which is why New Yorkers accounted for a large proportion of Miami luxury home buyers.
Miami currently ranks seventh in the nation in terms of total population and is growing rapidly. The increasing population and wealth year by year have brought more consumption, employment, diversified economy and high-quality talents to the city.
Based on the 2.7% GDP growth rate in the Miami area in 2017, the GDP growth forecast for 2018 is 2.2%. CBRE Residential Life Weekly (2017) and UBS group rank Miami as the fourth richest city in the world based on its purchasing power rankings. "Next Miami" ranks 11th among producers of U.S. city GDP.
A transportation hub for the world
Miami International Airport (MIA) plays a pivotal role in promoting Miami's connections with other central cities in the United States, as well as internationally. In terms of passenger traffic, MIA is the tenth busiest airport in the United States and is a transit hub for American Airlines and American Eagles, as well as cargo carriers UPS, LAN Cargo and FedEx. With Qatar Airways and Turkish Airlines opening direct routes from Miami to the Middle East, Miami International Airport has become a unique player in Florida's passenger connections with Middle Eastern cities.
Miami International Airport (MIA), as the largest economic driver in the southern United States, is the premier airport for international passengers and cargo in the United States, a passenger hub connecting the Americas, Europe (and even the Canary Islands) in the United States, and a freight hub for the United States to connect to Asia. In 2010, Miami International Airport accounted for the largest number of international flights in the United States, followed by John F. Kennedy International Airport in New York.
In terms of the number of international tourists it carries, it is second only to The Company of New York City. F. Kennedy International Airport. Miami International Airport ranks first in the united states in terms of passenger numbers flying to South America and the Caribbean. Miami International Airport currently has 100 passenger and cargo airlines, more than any other airport in the United States, and together with its four general aviation airports, it produces approximately $33.7 billion in annual revenue and provides nearly 280,000 direct and indirect jobs for Florida. In 2014, the airport set another record, with 40.9 million passengers, an increase of 400,000 from 2013.
A place where celebrities gather
Miami's pleasant climate, superb infrastructure and beautiful natural surroundings attract america's top billionaires to trade property every year, the most iconic of which includes the $1.34 billion Coconut Grove Mansion of NBA superstar LeBron James; the $3.15 million rooftop mansion of Yankees chief baseball batsman Kevin Durran Biscayne; and the $30 million private mansion of world-class musician and music producer Phil Collins.
Hollywood movie star Elizabeth Taylor, the famous American talk show host Oprah, pop musician Gloria Easteffern, Latin love song king Julio, Jackie Chan... There are mansions here.
According to US media reports, the Ivankas' luxury home neighbors on Indian Creek Island in Miami Beach include celebrities such as supermodel Adriana Lima, Wall Street investor Carl Icahn, and real estate mogul Jeffrey Soffer.
Surfside on Miami Beach attracts celebrities to settle or vacation here because it is less than 5 kilometers from the coastline. The Surf Club has now been converted into four Seasons Hotels and Apartments, once a holiday destination for winston Churchill.
The celebrity effect of the attraction of Miami Beach and even the entire city of Miami luxury home sales market is also a major factor in the promotion of high-end real estate to the Miami housing market.
Quality basic education resources and extensive higher education
According to the distribution of school district resources at Great Schools, 5 of Miami's 79 elementary schools have achieved a full 10 score, which is very attractive as a full-score school district to attract education-oriented buyers; while 5 of the 47 middle schools also have a full 10 score; and 3 of the 36 high schools in the high school area have 3 10-point schools and 2 9-point schools.
Miami has 46 universities and colleges, of which the University of Miami, Miami International University, etc. are quite influential. Among them, the Miami-Dade region has 7 schools ranked in the top 100 schools in the United States.
The world's yachting industry is attracted by celebrities
The Miami International Boat Show is the premier yacht show in the United States and even in the world, attracting the attention of many yacht buyers in the United States, Europe, South America and the Middle East due to Miami's unique and superior geographical location.
In the United States, the yacht market accounts for more than half of the world's yacht sales, and is the world's largest yacht consumer. Celebrities buy yachts, moor at Miami's premium, service-laden marinas, and spend time in their Miami-built mansions during their vacations.
In the hot land of Miami, the two complement each other to form a very tacit mutual promotion effect.
The upcoming Construction of the Port of Florida High Speed Rail Station in Miami
According to a spokesperson for the Florida High Speed Rail Corporation earlier this month, three high-speed rail stations, including the Port of Miami high-speed rail station, are planned to be built in 2021, the other two being Boca Raton and Aventura.
Florida high-speed rail management has said that after the three new high-speed rail stations in South Florida are fully operational, it is expected to carry up to 2 million passengers a year.
It is believed that even if high-speed rail has just begun to develop in the United States, it can be expected to gradually form the influence of high-speed rail like China and become a new regional center for urban growth. This is bound to become a new growth point for the real estate market in the region.
The largest Chinese gathering place in Florida
Chinese in Miami has a history of more than one hundred years, the earliest immigrants from the previous immigration to Central and South America Chinese, and then from other parts of the United States, Chinese from Taiwan also belong to the earlier batch of Miami, with the reform and opening up, immigration from the mainland increased year by year, after nearly twenty years of development, has become the backbone of the Miami Chinese community.
In 2018, the permanent Chinese population of South Florida has exceeded 47,000, and tourists from the Chinese-speaking world are in an endless stream. By 2020, the total number of Chinese in the Greater Miami area will exceed 60,000, making it the largest Chinese gathering place in Florida.
Throughout the day, Miami has gathered a number of top luxury home design projects, among which the best ones are Aston Martin's first co-brand apartment, Porsche Design Co-brand apartment and Ivanka's Arte Surfside. The city attracts celebrities from all walks of life and localities with its unique and bold modern residential design concept, while also focusing on the attention of the public.
In addition, many financial services industry giants have landed in Miami, such as Blackstone, which signed their new office lease at 2 Center Street in Miami. Miami, which is increasingly formed as an international financial metropolis, may be more attractive to the arrival of large real estate capital transactions.
(Canada U.S. Finance)
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Author: Li Yuan
Editor-in-charge: Little Raccoon