What Makes Miami Homes a Luxury Hallmark?October 11, 2011
Luxury is present in various forms but one common attribute among its components is providing extra pleasure that captivates the senses. The current global economy posts a more robust market for the business sector due to the consumers’ increasingly growing demand for superiority.
Therefore, understanding consumers’ desires is crucial in satisfying the need for luxury. This is where Miami real estate comes in the picture. From the trendiest modern designs to captivating scenery, the bountiful choices for real estate handcrafted Miami’s mark as a luxury hallmark.
In 2001, Miami had undergone a large boom on real estate development. Over 50 skyscrapers with more than 400 feet high were in construction. The city’s skyline became among the top three in the U.S.
Moreover, Downtown Miami had incurred the biggest concentration of international banks in the country. The title of Cruise Capital of the World is given to the Port of Miami making it the busiest port in both cruise lines and passenger traffic. Medical institutes and biotechnology industries also form part to the ever-growing economy of the city.
Forbes magazine named it America’s Cleanest City in 2008; a clear testament to Miami’s thriving eco-oriented technology and strict recycling campaigns.
In 2010, the city ranked seventh in the country in terms of commerce, entertainment, finance, and fashion among others. Another study also ranked Miami as the fifth richest city in the world in terms of purchasing power.
With the growing economy comes the increase in population, making it the most populous city in the metropolitan area of southern Florida.
All these aforementioned facts are evidence to the obvious growth of Miami’s luxurious real estate industry. The higher demand for luxury calls for greater supply of Miami homes making it a true hallmark of luxury.