There was once a time when a gorgeous view of the Atlantic was all it took to generate interest and purchases in Miami’s exclusive beachfront skyscraper condos. The stunning beauty and beachside access were hallmarks that enticed many a buyer to decide to hang their hat in a second or third home. However, for the ultra-rich international jet set, the newest selling point is all about labels.
Luxe Designer Labels Are the New Trend
It’s no secret that clothing, jewelry, handbags, and cars that carry labels such as Armani, Porsche, or Fendi are more in-demand and have higher price tags. The new trend in Miami, however, takes those labels to new heights by using them to brand luxury hotels and homes to net greater profits.
While it may seem unlikely that simply adding a designer brand could drive premiums to staggering levels, there is plenty of proof available. Wealthy home buyers from locations such as Argentina, Brazil, China, France, and Russia are snapping up these new digs, and they are spending millions to do it. While many pursue high-dollar purchases to protect their fortunes from the decreasing
values of their currency, the designer logos are also a major factor.
The Proof Is in the Purchases
Even if the idea of haute logos commanding higher prices seems questionable, there is plenty of evidence available that proves otherwise. The following luxury Miami condos feature designer labels and prices to match, but buyers are snapping them.
This 132-condo location developed by Gil Dezer is scheduled for construction to be completed in 2016. However, it is already almost completely sold out – despite prices ranging from $4 million to $30 billion. The luxury condos inside this glass and concrete piston-shaped marvel feature stunning panoramic views of the Atlantic, but a major draw for some buyers is the three car elevators that take homeowners and their cars directly to their own personal garages.
Juan Pablo Verdiquio, an Argentinian native that moved to Miami and started his own construction business, took “a leap of faith” with his purchase, based solely on his ownership of a Porsche 911 4S. For him, living in a condo with the same name was nothing short of a perfect fit.
Another designer condo skyscraper from Dezer is the Fendi Chateau. With its location near major boutiques that include Tiffany’s, Gucci, and Chanel, these apartments are also going fast. Verdiquio, who purchased one of the staggering Porsche condos, was shown blueprints of units available at the Armani, which start at $1.5 million. After seeing them, he purchased a unit in that building as well.
Luxury and designer labels are having a major impact on Miami Beach real estate, with prices for the top homes in the area leaping 66% in the past year. At the current rate, and as more of these branded condos emerge, these prices are expected to continue rising as more international buyers flock to the area. This will continue forcing Miami locals farther in-land for more affordable housing.