There is a silver lining in the storm of the Miami Real Estate Market, and that is the Luxury Home Market.
Miami is one of the best places to sell or own a South Beach luxury villa or a Miami Beach condo. The main reason for this is the 2 kinds of people that love our area: the international affluent visitors and the Northern Baby Boomers who want to enjoy the rest of their lives in a year-round vacation environment.
Million dollar home owners are often those younger baby boomers who work for large companies and earn around $500,000 per year.
People who are investing in luxury homes now are not affected by the rising interest rates. As a matter of fact the luxury market is doing very well, and there has only been a slight lowering of sales on the lower end luxury market.
People buying luxury homes want the amenities in the home to reflect the leisurely lifestyle.
Those buying in the luxury home market are also likely to be looking for, or already own, a second home. Second homes or vacations homes are a priority for people in this market.
Lets look at what is in the luxury market in Miami Beach for the.
In the Exclusive guard-gated STAR ISLAND we find The Casa di Paola (Versace of course). This 2-story 1925 architectural beauty offer's approx. 15,000 sq. ft of waterfront living with a separate 2-story guest house and 100 ft. of deep water dockage. These 10 bedrooms, 10 baths and 3 half baths luxury villa is the only Star Island home which offers an adjacent 40,000 sq. ft buildable parcel together as a package or may purchase separately. The price tag is $22,000,000.
On another island of Miami Beach, Biscayne Island, we find this impeccable Med masterpiece on private 47,250Sq.Ft.
The price for this 6 bedrooms and 7 bathrooms luxury home is $14,900,000.
On Hibiscus Island we can find a contemporary masterpiece completely remodeled '05 from scratch. Five bedrooms and 5 bathrooms on 5500 SF of simplicity, beauty & serenity with surround sound & 12 camera security system throughout. A separate (from main residence) loft villa has its own roof deck. The price for this beauty is $10,500,000.
This Miami Beach's luxury Mediterranean mansion on 1350 Collins there is another masterpiece by the same designer as the Versace Mansion. Five bedrooms and six bath on 5,188 Sq. Ft., in the heart of South Beach goes for 8,500,000.
New 3-story masterpiece offering a lifestyle of luxury amid contemporary elegance on Lido Island. Seven bedrooms, 5 ½ baths on 7,350 SF of living area plus a +/-2,500SF rooftop terrace plus 600SF of terraces & 60ft of waterfront.
Master suite on 3rd level w/fabulous views. All this for a recently reduced price of $7,000,000.
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