Why UK Investors Are Setting Their Sights on Miami’s Luxury Real Estate Boom
In partnership with TNR
By Kody Boye
Everything is hot in Miami, including its real estate market. With its stunning beaches, exciting nightlife, and booming economy, South Florida has quickly become a hotspot. And if there’s anyone who knows this market inside and out, it’s Iggy Goncalves and Carlo Dipasquale, two of Miami’s most notable realtors. Representing Compass in South Beach, these pros have gained a reputation as “the voice” of real estate in Miami for discerning clients seeking luxury properties.
Miami: A Booming Economy and A Global Appeal
So, what makes Miami such a magnet for luxury property buyers? Iggy breaks it down: “Miami has always been a prime spot for luxury properties. The city offers so much – from lower property taxes to a cosmopolitan vibe with world-class shopping, dining, and events. And, of course, the beaches and turquoise waters are unbeatable.”
The real estate market isn’t the only thing heating up in Miami. The city’s economy has been on a meteoric rise, attracting major corporations and creating thousands of new jobs. “Miami has seen a huge influx of people, especially after the pandemic,” says Carlo. “Ken Griffin moved Citadel from Chicago to Miami, creating thousands of jobs that didn’t exist here before. Now, we’ve got major players like Amazon and PayPal setting up shop in Miami, too.”
“Miami has finally evolved into a global city,” says Carlo. And he’s not exaggerating. The city now boasts a thriving financial district, top-tier universities, and some of the best schools and hospitals in the country. It’s also a cultural hotspot, hosting the world’s biggest art fair, Art Basel, which attracts top collectors.
Art, real estate, and finance are now central to Miami’s identity, and the city’s reputation as a global player continues to grow. As a result, Miami is no longer just a vacation destination. It’s a city where people come to live, work, and invest.
The Experts in South Florida Luxury Real Estate
Understanding South Florida’s luxury real estate market requires deep, nuanced knowledge of the city, something Iggy and Carlo have honed over 23 years, with more than a billion dollars in property brokered. “We’ve seen the city change and grow, and we’ve grown with it,” Carlo says. Their expertise has allowed them to achieve record-breaking prices for their clients, even when selling buildings others thought would be impossible to sell. “Our job is to look out for the client’s best interests. What’s good for them is good for us,” Iggy emphasises.
The luxury sector demands precision. Recognising this, Carlo and Iggy, represented by Compass.com, benefit from Compass’s $900 million investment in innovations like state-of-the-art VR tours and intelligent customer service. These tools ensure that the buying experience is smooth and efficient, allowing clients to truly explore properties and envision themselves living there.
Carlo also highlights the importance of a knowledgeable realtor when it comes to understanding a property’s investment potential. Misleading advice can result in costly mistakes. “When a client says, ‘I want a 06-line, on the Setai, over the 30th floor,’ that indicates they know exactly what view they want. Offering something on the 20th floor, with an obstructed view, would likely lose the client.” This keen understanding helps not only in finding the right property but also in achieving record-breaking sales for sellers. A unit at The Continuum, South Tower, for example, recently sold for $5,000 per square foot—a record price achieved by combining two units into one fully remodelled four-bedroom. The strategy of creating “combo units” ensures sellers get the highest possible price per square foot, never settling for less than $2,000 per square foot.
A Hot Property
For those looking to invest in South Florida luxury real estate, Carlo and Iggy are showcasing a stunning turn-key home in the exclusive Seven Isles neighbourhood of Fort Lauderdale. Located at 314 Seven Isles Dr., this residence has been meticulously designed with luxury and comfort in mind. It features a curated interior, top-of-the-line kitchen appliances, and a Control4 home automation system. With three bedrooms, three full baths, and 10,400 square feet of living space, this home is a true gem and is priced at $3,398,700.
South Florida: Location, Location, Location
As South Florida continues to attract global attention, its real estate market remains one of the hottest in the world. With South Florida realtors like Iggy Goncalves and Carlo Dipasquale making waves in the market, now is the time to buy South Florida real estate.