How is real estate changing according to the demands of the new generations?

 

Hard as it may be to believe, today's millennials aren't living in their parents' basements; rather, they're buying multimillion-dollar homes.

At 38%, millennials -adults born between 1981 and 1996- represent the largest proportion of homebuyers in the U.S., according to a National Association of Realtors survey released last year. "They are just as interested in owning a home. They've just waited longer to buy their first one," says Bradley Nelson, director of marketing for Sotheby's International Realty. Affluent millennials, Nelson says, are going big.

Market Preferences

Millennials are the most educated generation in history, have higher incomes and are poised to inherit more than any previous generation, according to a May 2020 report from the Brookings Institute.

Millennials are characterized by their tech-savvy and environmentally-conscious values, and their millennial preferences are poised to dramatically shape the market.

Luxury headwinds

In addition, amid the indiscriminate decline in overall tax revenues caused by the pandemic, governments around the world are re-evaluating property and estate taxes as a means to cover budget shortfalls.

"For all buyers, tax implications are going to be a bigger part of their consideration when buying a home," Nelson says.

For the growing cohort of young, affluent buyers eager to get their dream home, millennials face a dearth of options that meet their unique tastes. "Inventories are near historic lows across the board, and especially for homes with the features they're looking for," Nelson says.

The world is definitely changing, and millennials know it. Miami is a place that they will probably like to live in.

Prepare for January in Miami

Miami is well known for its warm, sunny year-round climate, but not even the sunny city can escape the winter. January is one of the coldest months of the year to visit Miami; temperatures range from 16 to 24 degrees Celsius (61-73ºF). There are few rainy days in January, which makes it a great month to travel.

If you are asking, is it possible to take a dip in the ocean in January in Miami? The answer is yes. If you choose a sunny day with little wind, there is no problem bathing in the ocean, but it is not recommended, because the temperatures are low.

But don't worry! Today, Miami Riches shows you the best options that the city of the sun has for you during January.

If your main objective is to visit the Disney theme parks in Orlando, the beginning of the year (January and February) is the ideal time. During the first two months of the year, the weather is quite good for outdoor activities, and the influx of tourists is lower. Since it is a low season, you will find lower prices and better deals.

In January, you'll also find the calendar full of exciting and interactive ways to experience Miami's most diverse and culturally diverse neighborhoods. Only in Miami you can explore a museum dedicated to the city's first black policemen, or take an ecological history tour of a semi-hidden beach, and eat ice cream inspired by the flavors of Cuba; you can find this and more at Miami Art and Heritage Months.

We can't forget the South Beach Jazz Festival, a music festival featuring talented artists in a unique format. At least one person in each performance has a disability. "The great talent of the artists will promote the festival's dual goal of entertaining and defining others by ability rather than disability. The festival is about uniting our community through the universal sound of music," explains his founder, David New.

This is a small sample of the options Miami brings you in this new year.

Fisher Island on the market!

When it comes to luxury, comfort, and privacy, Fisher Island is the answer. In this tropical oasis, located three miles from the shores of Miami, you’ll find the perfect place to live an exclusive life. This island shelters about 700 families along a private shoreline and around a golf club. Best of all, it’s completely private. No roads lead here and the only way its residents can come in and out from Fisher Island is on a heavily-secured ferry, which only insiders can use.

This island features a shocking amount of amenities, such as: 8 restaurants, including high-end steakhouses, a 9-hole golf course, 18 tennis courts, a large public spa, a small bird-watching area, a private beachfront filled with Bermuda’s sand, and it’s still growing. Even though it’s a small area, Fisher Island also features a small bank, an emergency medical staff (for residents and workers), post office, grocery store, and for the youngsters it has a primary school, jungle gyms, basketball hoops, and sport fields. Fisher Island has it all for its residents and the best thing of all is its safety: the entry process and the island itself are both very heavily secured.

Being one of the most exclusive areas in Florida and the most expensive zip code by square feet in the United States, Miami Riches is pleased to present to you these two amazing properties if you’re interested in buying or renting on Fisher Island.

This one over here is a 900sqft, one-of-a-kind unit, with one room, one bathroom, and a two-water front. You’ll enjoy direct views to the calm emerald waters of Fisher Island’s marina. This bright and spacious property can be easily converted into a two bedroom unit. It’s located at just steps from Fisher Island’s private marina, Island Market, and it’s a golf-cart ride away from Fisher Island’s private beach. This property possesses tremendous potential as a main residence, guest house, or income property. It costs $779,000: a great deal!

However, if you’re looking to vacation on Fisher Island, there are some other offers on homes for rent. This one over here is available for seasonal or short-term leases. It’s a recently updated ground floor seaside villa. It features one bedroom and one bathroom in 710 sqft. If you want the most luxurious, private, and exclusive vacation, then this unit will provide all of this. You just have to contact us for available dates and seasonal pricing schedule. The cost is about $4,000 a month.

Rents around Midtown Miami

The cost of a condo versus a house depends on the size of the home, the property values of the neighborhood and the cost of living in the area. But typically, you'll spend less on a condo.

When living in a condo you'll pay dues to a condominium association, which will take care of most of your maintenance needs. You don't need to worry about landscaping, yard maintenance and physical labor activities like snowplowing, road maintenance, and roof repair.

People in condos tend to live in a close proximity. There are always social moments that occur throughout the day. Whether it be to take the trash out or pick up the mail, there are opportunities that one just doesn't get in a home.

If this is the kind of life that you’re looking for, there’s a pocket-sized neighborhood with broad appeal, outdoor cafes, and fine food purveyors all snuggle into an invitingly collection of streets and shops, where you can rent some fantastic condos - Midtown, you’ll be next to creative hotspots like Wynwood and Edgewater, and also perfectly positioned to experience mainland destinations like Brickell.

We gathered great opportunities for you to live here:

Unit with breathetaking views, motorized shades, tile throughout, with natural sunlight and dimmers. With great amenities - high speed internet, security, full concierge, 24 hour valet parking, 2 pools, gym, sauna, party room, convenience store/cafe and theater.

Rent: $2,800 /Month

Community: Quantum on the Bay

This home offers stainless steel appliance, quartz counter, high ceilings, floor-to-ceiling windows, exposed concrete ceilings, balcony with amazing city view. State of the art amenities, 24 hour security, concierge, fitness center, infinity pool, Jacuzzi tub, sauna, steam room and valet parking.

Rent: $1,800 /Month

Community: Four Midtown Miami Condo

Rent: $1,800 /Month

Community: Four Midtown Miami Condo

Spacious 2 bedrooms and 2.5 bathrooms condo with many upgrades, including hardwood floors, kitchen with matching island, window treatments, closets & high end lighting fixtures. Floor-to-ceiling windows and generous balcony with amazing city and bay views.

Rent: $2,800 /Month

Community: Two Midtown Miami

To keep on looking go to www.MiamiRiches.com

Lujo y Exclusividad en South Beach - Hotel W

El hotel W es conocido a nivel mundial como sinónimo de lujo y estilo. De igual manera, su edificio ubicado en Miami Beach es la combinación perfecta entre el estilo de vida en Miami Beach y el lujo que representa vivir en este hotel justo en South Beach.

Construido en el 2008, el W en South Beach es un glorioso condominio – hotel cuyas 500 suites, distribuidas en 20 pisos, poseen hermosas vistas hacia el océano Atlántico-. El hotel posee suites de una, dos y hasta 3 habitaciones, posicionándolo por encima de muchos condominios a lo largo de South Beach. Para sus propietarios, los bungalows y los penthouses son incomparables.

Dentro de cada residencia, los propietarios pueden esperar encontrar propiedades perfectamente diseñadas y totalmente equipadas; amplios balcones de cristal con vistas incomparables de la playa; techos que excedan de nueve pies de altura; una cocina completa con electrodomésticos de alta gama;  madera y suelos de mármol; gabinetes importados, duchas de hidromasaje y hermosas lavabos de mármol en los baños con bañeras en las residencias más grandes; ropa de cama de la firma W Hotel (destacando siempre sus amplias camas).

En el W South Beach, los propietarios tienen la posibilidad de alquilar sus viviendas a corto o largo plazo -o incluso vivir allí sí mismos-. Para los que buscan invertir en Miami, otra opción es alquilar su propiedad a través del programa de gerencia de propiedades del hotel, debido a que el W South Beach opera de igual manera como un hotel, las tarifas de este plan pueden ser sustancialmente más, ya que suelen cobrar entre $ 700 a más de $ 7,000 por noche.

El W South Beach es ideal para los inversionistas con experiencia, o cualquier persona que busca invertir en alguna propiedad lujosa dentro de la ciudad de Miami. Ser propietario en un lugar tan exclusivo,  asociado a la reputación del hotel W es algo totalmente incomparable.