How Lebron James and the Miami Heat Effect Downtown Real EstateMarch 18, 2013
It’s no secret; Lebron James is in Miami and is one of the most popular celebrities in the area. Bringing home a championship and owning the best record in the Eastern Conference, currently, makes the Miami Heat and James very popular in Downtown Miami. Does Lebron have any effect on the Downtown real estate market?
Many experts believed James would have an effect on the market when he signed as a free agent a few years ago and they were right. He’s still making an impact on the real estate market in Downtown Miami because he’s helping the Heat sell out every home game. As soon as he was signed, the season tickets sold out. This hasn’t stopped, since the Heat have become one of the top NBA teams and brought a championship home last year.
With a star like Lebron and a championship team, Miami is in the spotlight more often than usual. This leads to more TV coverage and more exposure for the City. All the areal video they show throughout the games and the buzz about the city during playoff time certainly changes the scope of real estate in the area. Not only does this bring many investors to the area, but also new jobs, which results in more families migrating to Miami.
New jobs, a championship basketball team and the usual allure of Miami brings more people to the area. Developers are creating new residential buildings downtown and re-energizing the city in a big way. People want to be around the excitement and many are moving to Downtown Miami because of all the buzz. Lebron and the Miami Heat have been a huge part of this resurgence and the real estate market will continue to soar, as the Heat play excellent basketball.