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California, Europe, India. They fall in love with [Miami], they ...
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Nancy Batchelor Editorial

Published on: Mar 3, 2016

Transcripts - Nancy Batchelor Editorial

  • 1. photographybyJimarbogast(batchelor) continued on page 330 California, Europe, India. They fall in love with [Miami], they get a taste during Basel, and then they come back for a long weekend, go deeper and figure out what part of South Florida works for them. Then there’s your international buyer. When people look into moving here permanently, it becomes different. People put their toe in and come for holidays and it’s a second-home market, but then they like it here, [their kids] can go to college [here]. Now we have world-class medical [facilities] and universities. All the pieces of the puzzle are here. Niki Higgins: The Knight Frank Wealth Report 2014 says that Miami is the number-two [top global city in the] US [region]. And as far as cities in the world that ultra-high-net-worth individuals (UHNWI) want to be in, it’s number eight. And 20 percent of them are considering buying a new home this year. NB: Just like the art world has exploded in the last 12 months, so has the ultra-luxury market. [The Nancy Batchelor Team has] had more sales in the last 12 months of $1 million, $5 million, $10 million and higher than in the past few years. NH: The UHNWI wants to come to cities that are ranked on economic activity, quality of life, knowledge and influence and political power, so the US is very appealing. These individuals are moving and reallocating their The Basel Boom Two powerhouse, record-breaking luxury real esTaTe agenTs discuss whaT’s changed in The MiaMi MarkeT since lasT year’s arT basel. moderated by julia ford-carther Nancy Batchelor and Niki Higgins on the balcony of Apartment 1402 at the Continuum. Art Basel serves as a benchmark for the health of Miami’s cultural and eco- nomic states. Last year’s acclaimed event—along with several infrastructure developments in the past 12 months—added to Miami’s allure as an interna- tional landmark for high-end living. Nancy Batchelor, of The Nancy Batchelor Team at EWM Realty International, and Niki Higgins, director of luxury sales attheSeasidePropertiesGroupatDouglasElliman,takealookathowMiami’s real estate market has grown since the 2013 fair, and why last year’s buyers are here to stay. Nancy Batchelor: We’ve got three buyers: The millennials who went to college [and] came back. They’ve got baby-boomer parents [who] are buying big stuff. We’ve got the hedge-fund market, which is not just New York; it’s A view of the Continuum condo tower at the southern tip of South Beach. Potential buyers are drawn to the luxury oceanfront lifestyle the Continuum offers (here, the living room). 328 eminent domain Real estate Roundtable

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