2014-01-17 20:03:01 - Amity Realty reveals the latest on rising influence of millionaires’ investments in Miami high-end developments, and its effect on other industries.
A little gem of the US, Miami, is a magnet for ultra-wealthy people. The city with its deluxe oceanfront condominiums, magnificent mansions, fancy nightlife and sunny days takes luxury living to a whole other level and can satisfy jaded tastes of millionaires. New state-of-the-art developments offer extraordinary features: whether you would like to park your car next to your living room, live in a four story penthouse with private roof top, or park your yacht by the 30,000 square feet mansion. The scale of wealth in the city seems to have no boundaries.
The fact that Miami has become the beneficiary of the growing global real estate investment trend has influenced diverse industries such as art and culture, fashion, tourism
and hospitality services, medical and healthcare complexes, university infrastructure and business and commercial centers. For example, the Art Basel fair has put Miami Beach on the map as a center for the arts as nearly 50,000 national and international art aficionados flock to the city filing hotels to capacity, shopping and eating at Miami’s and South Florida’s renowned restaurants, which, from a business perspective, generates about $500 million revenue to the local economy.
This crossover of luxury, art and fashion is hardly a new phenomenon. Miami is not yet a major fashion capital, but the growing number of artists mingling with fashion designers is taking Miami in this direction. The city serves as home for several major worldwide modeling agencies.
According to Amity Realty, Miami’s accelerated renewal is also leading to gentrification of many neighborhoods. Miami’s expansion of upscale neighborhoods, by rebuilding and renovating decaying buildings, is a positive outcome for the city, however, it implies sometimes the displacement of lower-income residents, who can no longer afford to live in the now higher priced communities. For instance, the transformed neighborhood of South of 5th, which was once regarded as the most rundown areas in South Florida, today is home to the most exquisite and expensive luxury condominiums in Miami Beach.
To learn more about Miami’s latest information at Porsche Design Tower contact Amity Realty at 786-220-2512 or by email: email@example.com
About Amity Realty: Amity Realty is an international network of real estate professionals in US and Europe with extensive experience in delivering unparalleled real estate service to a discerning clientele. Amity Realty in Sunny Isles Beach consists of passionate team of real estate professionals specializing in luxury waterfront residential and commercial properties in South Florida. For more information or to inquire about properties visit Amity Realty online at www.amityrealtyusa.com