Research this month by NAR Zillow identifies that the property market in the US has seen a strong spring in 2018 with house prices up by 5.8% compared with 2017.
Miami is earmarked as one of a handful of property hot spots for price hikes in 2018. The city is underpinned by a highly successful economy and restrictions by local and state governments to prevent over-development within their jurisdictions.
Miami offers some of the most desirable real estate in the world with an average of 248 days of sunshine a year, wonderful beaches and a cosmopolitan culture. Its luxury residential property offering attracts interest and buyers from around the globe.
This month, Florida’s leading developers, The Related Group and Dezer Development, have announced the final stages of their latest landmark project, Residences by Armani/Casa, in a prime oceanfront location on Sunny Isles Beach, known as the ‘Miami Riviera’.
The developers have formed an exclusive partnership with the Italian haute couture company, Armani Casa Interior Design Studio, to create the first Armani/Casa branded real estate in the US.
The 56 storey tower created by architect Cesar Pelli comprises 308 luxury residences designed under the artistic direction of Giorgio Armani. The new flagship development set in prime location South Florida on ‘Miami’s Riviera’ is regarded as the newest address for ultra-luxury oceanfront living.
Gil Dezer, President of Dezer Development said: “We are thrilled to partner with such a talented individual as Giorgio Armani in the further expansion of his brand into the residential real estate arena. The tower will be representative of the Armani lifestyle; it will possess distinctive luxury and unrivalled elegance, as do our other branded buildings.”
Together with Armani/Casa designed interiors, amenities include everything from a lounge displaying a curated collection of museum-quality art, to a fine dining restaurant, cigar room and wine cellar, a two-storey revitalisation spa with indoor and outdoor treatment rooms, movie theatre and exclusive beach amenities on a 300-foot stretch of private shore in a landscape designed by award-winning Swiss landscape architect Enzo Enea.
Florida top for house sales
Jon Paul Perez, vice president of The Related Group, said: “The collaboration of the extraordinary design talents of Giorgio Armani and César Pelli has been paramount to our sales success. Featuring the level of superlative quality and timeless grace synonymous with Armani’s iconic style, buyers understand the unprecedented value of this property.”
Residences at Armani/Casa range from 1,350 to 4,160-square-feet priced from $1.85 million to over $6 million and are being marketed in the UK through Aylesford International and Sphere Estates. Sales currently represent over 75 percent of the building.
Florida is ranked the number one state for international real estate sales and with MIA and Fort Lauderdale-Hollywood International Airport adding new routes and carriers to service Europe, the Middle East and Asia, the development is an attractive option for international buyers to invest into the latest luxury development and a Miami lifestyle.