Miami is famous for its luxury real estate and the trends are not just going through the roof but taking them to the next level. From a splashy spa to “ego-glam” perks, some of the properties on this side of the Atlantic coast are beyond luxurious.
Luxury Real Estate Trends in Miami
Up on top
New developments in the area are reaching new heights with properties designed to scrape the sky.
The Panorama Tower has topped what used to be Florida’s tallest building (789 feet), with its 85-story, 868-foot property. The mixed-use structure has more than 800 luxury rental dwellings with amenities that are nothing short of impressive, such as private dining rooms and three theaters.
The trend of sky-high buildings was due mainly to the scarcity of waterfront land and the high demands for “sky-high buildings offering unique sky-high amenities to match”, according to CMC Group founder Ugo Colombo.
Other sky-rise buildings under development are the 60-story, 700-plus-foot Paramount Miami Worldcenter; 62-story, 709-foot One Thousand Museum; 64-story, 736-foot Brickell Flatiron; and the 66-story, 817-foot Aston Martin Residences.
Luxe eco-conscious living
In response to the call of environment preservation, luxury properties in Miami are integrating elements that allow for eco-conscious living, along with health-focused comforts.
The so-called “eco-glam” perks refer to organic dry cleaning, living-art installations, and similar features. The 1 Hotel & Homes South Beach even have a Tesla house car that residents can use to make quick trips.
The same property also offers a massive Spartan Gym, the first Bamford Haybarn Spa in the country, sunrise rooftop yoga, and other on-site wellness amenities.
Tree house vibe
If the 1 Hotel & Homes South Beach has eco-glam perks, Miami’s Coconut Grove has enhancements that are eco-friendly, including a bike-share program and electric-car charging stations.
The property’s lure is its strategic location – close to Miami attractions but far enough from the hustle and bustle. As what one Coconut Grove resident said, “You’re very close to Miami Beach and Brickell, but you don’t live in that chaos.”
The best schools are also nearby. This has prompted other builders to jump in on the bandwagon.
Innovative new constructions
Nearly a quarter of properties in Miami could face catastrophic damage and flooding due to the changing environment that will result in water surges, according to a published study. This means the stylish waterfront real estate that South Florida is known for is under threat.
In response to this, architects are using innovative construction ideas to deal with climate threats.
Architect Rene Gonzalez built the Prairie Avenue residence in Miami Beach on stilts that are more than 10 feet above the ground. Under it is a rolling garden that is storm-resistant. When the weather is great, the garden serves as a lush outdoor living space.
Gonzales describes it as allowing “people to see you’re not simply acting on defense, but you’re creating something beautiful and poetic that can enhance [the living] experience.”
Other similar innovative properties include the Monad Terrace by architectural firms Kobi Karp and Ateliers Jean Nouvel and the Sieger Suarez-designed condominium Privé at Island Estates.
The former is a property with all living spaces protected from future flooding, while the latter boasts of dwellings that are 67 feet above water or higher and a lobby that sits 33 feet above sea level.
If you’re interested in becoming a luxury real estate investor, here’s our podcast where we talk about doing just that: