tcontinues to grow. In a recent report from the Miami Report that analysed 428 condominium buildings that have been developed from 1993 to 2017, there has been 9% average increase in sales price. Since 1993, the total sales price increase has been 229%.
It is important to note that these buildings are east of I-95 and include the following areas:
- Brickell
- Biscayne Corridor
- Downtown Miami
- South Beach
- Miam Beach
- Surfside
- Bal Harbour
- Bay Harbour Islands
- Sunny Isles Beach
- Hallendale Beach
- Hollywood Beach
- Aventura
- North Miami Beach
- Coconut Grove
- Key Biscayne and
- Ft. Lauderdale
How many people are moving to Florida? Daily, there are 900 people that move to Florida. Of the 900, 45% of them make Miami, Broward and the Palm Beaches their home. The largest percentage of the 45% are making the move to Miami-Dade with 12% moving to Broward (Ft. Lauderdale).
According to Forbes in February 2017, 8 of the top 15 fastest growing cities by population, employment and wages are in Florida. Florida is ranked the 2nd fastest growing state in the nation behind Texas which has a current population of 28.3 million with 1095 people moving to Texas each day.
Transportation
Miami International Airport is ranked as the third busiest airport in the country. The amount of passenger and cargo that travel through MIA each year equates to $33.7 billion.
On the heels of Miami is Ft. Lauderdale International Airport. Due to the recent extension of the south runway, FLL is now home to new international airlines such as Emirates and British Airways. Emirates offers direct nonstop flights to the Middle East with British Airways offering nonstop service to London. The FLL airport expansion has contributed to a 43% growth in annual passengers.
You may have heard that Miami is also the “Cruise Capital of the World”. It’s no secret that the PortMiami is the busiest port in the nation with over 5.3 million passengers in 2017 – a world record!
Of the most latest news is the new train service in Miami’s Downtown. Brightline is the counties first high speed rail system and now offers service from Miami to Ft. Lauderdale in 25 minutes. After Ft. Lauderdale, you connect to West Palm Beach within 35 minutes and the expansion to Orlando, once completed, will take 1.5 hours. Brightline is expected to travel at 125 mph. For more information, please visit their website at Brightline.
In other high speed rail news, Miami to Orlando was announced as a top 10 finalist to be the first Hyperloop route. The Hyperloop is a vacuum sealed tube or series of tubes that allows the vehicle to travel without air resistance and friction. The Hyperloop One route from Miami to Orlando would cover 257 miles at 700 mph which would complete the trip in 25 minutes. For more information, please see the link and video below:
- For the full details of the report, please click the link for the full PDF – Miami Report
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Anthony Spitaleri 