Real estate markets across the country remain turbulent. In 2023, you’ll hear plenty of talk of low inventory and high interest rates resulting in a mixture of hesitant sellers and buyers wondering if they should wait on making purchases. The Miami luxury market seems like a world apart in comparison, as properties are still highly sought-after, and the market remains competitive.

While there are several stunning properties, two buildings stand out as a testament to the current state of the luxury market: St. Regis in Sunny Isles and St. Regis in Miami.

What Attracts Buyers
St. Regis is a gorgeous luxury hotel and residential building, but there are comparable offerings on the market. So, what is it about St. Regis that sets it apart and draws buyers in?

Potential buyers are excited about the exceptional amenities, services, prime beachfront location, high-end finishes, and stunning ocean views. They love the world-class restaurants, spa, and having access to their exclusive beach cabanas.

And that’s only touching the surface. St. Regis has a long list of amenities, and it’s difficult not to be impressed by what they offer. Buyers look forward to a private marina, a fully equipped fitness center, the St. Regis cognac room and traditional tearoom, butler service and in-room dining, and so much more. St. Regis seems to have thought of everything a buyer could want.

How Competitive Is It?
Being involved in the current real estate market is a highly competitive experience. The sales process for these types of properties requires a customized sales approach, even when working with the most qualified buyers. It requires tapping into market knowledge and experience for the edge that makes these transactions possible.

Does This Market Require Experience?
The high levels of competition require a deep understanding of the market. Identifying the unique selling points of the property, of which there are many when we’re discussing these two St. Regis buildings, and leveraging an extensive network of high-net-worth clients are both necessary tactics.

Final Thoughts for Buyers and Sellers
Keep in mind that all markets have fluctuations and ups and downs. In recent years, the luxury real estate market in Miami has performed well. It has seen strong demand from both domestic and international buyers.

With that in mind, potential buyers should work with an experienced agent capable of providing guidance on neighborhoods, properties, and investment opportunities. Likewise, potential sellers should work with an agent who can develop a customized marketing plan and attract qualified buyers while negotiating favorable terms.

For more information on these 2 buildings or the Miami Luxury Real Estate Market, you can contact Lana by email - lanabell@elliman.com or call her at 305-336-0457.