In the last 5-10 years, Miami and the broader South Florida region have emerged as prime locations for branded residences, attracting property investors, world class hotels and luxury brands from around the world. Miami’s branded residences offer it all.
Miami’s branded residences perfectly blend into the city’s reputation for luxury, opulence and its vibrant party scene, offering residents the ultimate blend of 5 star homes and exclusive local nightlife.
This article explores some of the factors driving this trend, the appeal of branded real estate, and notable projects in the area.
What are Branded Residences
The key characteristics, features and benefits of Branded Residences are:
- Definition: Prime residential homes associated with luxury hospitality and lifestyle brands
- Key features: World class amenities, 5 Star hotel-like services and professional management
- Benefits: Exclusive elite lifestyle, potential value appreciation, rental income opportunities
- Ownership: Private home ownership combined with brand prestige and quality assurance
Branded Residences: The Journey to Popularity
The branded real estate market has become such a force in premium real estate in the past decade and more notably in the past 5 or 6 years. The transformation is remarkable, from the early days where hotel companies were reluctant to be associated with branded home ownership, and if they were involved it was only the premium brands like Four Seasons and The Ritz-Carlton available.
Now-days, it is in every brands remit and growth strategy to focus on luxury branded homes to grow their market share.
There has never been a better time to find branded real estate, with an approximation of over 700 projects either available or about to the hit the market, and they are available in almost every country in the world.
Things have changed immensely, new entrants into the market, new types of ownership, and 100s of new projects, from the finest names in hospitality, to leading names in fashion, media, luxury, and even the car industry.
Some key benefits of owning a branded residence
- The very best most exclusive prime locations
- Exceptionally high-quality design, fixtures and finishes
- Fully integrated wellness facilities
- Hotel-like amenities such as concierge, spas, fitness centers, and restaurants
- Professional property management
For a far more comprehensive guide on branded residences, visit our article What are Branded Residences? The Definitive Guide 2024
Why Miami and South Florida?
1. Robust Luxury Real Estate Market
Miami, in particular, has long been known for its luxury real estate market. The city’s skyline is dotted with 5 star hotels, high-rise condominiums and luxury waterfront properties, catering to homeowners who demand the best in design, amenities, and location. This existing luxury market provided a solid foundation for developers who are developing luxury branded residences.
2. Lifestyle and Climate Appeal
South Florida’s year-round warm weather and vibrant culture are big draws for luxury real estate buyers and travellers. The region offers:
- Beautiful beaches and water activities
- World-class dining and nightlife
- A thriving arts scene
- Outdoor recreational opportunities
- Numerous world class hotels and tourist attractions
- A multicultural lifestyle
These offerings alone, align perfectly with the luxury experiences that branded residences aim to provide.
3. Tax Advantages
Florida’s tax-friendly environment is a major attractor for high-net-worth individuals, property investors and those looking to relocate. The state offers:
- No state income tax
- No estate tax
- Homestead exemption for primary residences
Unlike most other US states, Florida has no state income tax, which offers financial benefits to property owners. Investing in Miami Beach real estate also brings other tax advantages, including deducting mortgage and property taxes from federal income taxes.
4. Miami’s Vibrant Nightlife Scene
Miami’s world-renowned nightlife is a key attraction for luxury homebuyers and complements the branded residence lifestyle perfectly.
The city boasts an eclectic mix of high-end nightclubs, rooftop bars, beachfront lounges, and chic bars that offer owners of branded residences superb entertainment options just steps from their luxury homes.
5. Strong Tourism Industry & Rental Market
South Florida’s robust tourism industry supports the short-term rental market, making branded residences an attractive option for investors looking to generate rental income when they’re not using their properties.
Miami remains the most competitive rental market in the United States, according to a report by RentCafe, with 19 prospective renters per unit.
The report shows that 73.6 percent of renters in Miami renewed their leases, indicating a tight market. Just 3.5 percent of Miami’s rental units are available, and new constructions make up just 0.55 percent of the housing supply, below the national average of 0.61 percent. Available apartments are typically rented within 36 days, compared to the national average of 46 days. With a Rental Competitiveness Index (RCI) score of 94.1, Miami surpasses the national average of 73.4.
6. International Appeal and Accessibility
Miami serves as a gateway between North America and Latin America, attracting a diverse, international clientele. The city’s multicultural atmosphere and international business connections make it an ideal location for global brands to establish a presence.
Additionally, Miami International Airport and Fort Lauderdale-Hollywood International Airport provide excellent connectivity to major cities worldwide, making it easy for international buyers to access their branded homes if they are not their primary residence.
Notable Branded Residence Projects in Miami and South Florida
- Porsche Design Tower, Sunny Isles Beach
- Aston Martin Residences, Downtown Miami
- The Residences at Mandarin Oriental, Boca Raton
- Armani/Casa, Sunny Isles Beach
- The Ritz-Carlton Residences, Miami Beach
- Four Seasons Private Residences, Fort Lauderdale
- Bentley Residences, Sunny Isles Beach
- Waldorf Astoria Residences, Miami
- The St. Regis Residences, Sunny Isles Beach
- Acqualina Residences, Sunny Isles Beach
- Baccarat Residences, Brickell
- Missoni Baia, Edgewater
Expanding Beyond Miami: Branded Residences in South Florida
While Miami remains the epicenter of the branded residence trend in Florida, other areas in South Florida are also seeing growth in this sector:
Palm Beach County
- The Mandarin Oriental, Boca Raton: In addition to the residences, this project includes a hotel and is part of the larger Via Mizner development.
- The Bristol, West Palm Beach: While not branded with a hospitality or luxury goods name, this ultra-luxury condominium has set new price records for the Palm Beach area.
Fort Lauderdale
- Four Seasons Private Residences: This beachfront project is elevating Fort Lauderdale’s luxury real estate market.
- The Ritz-Carlton Residences, Fort Lauderdale Beach: Offering a mix of hotel rooms and private residences, this property has helped establish Fort Lauderdale as a luxury destination.
While South Florida leads in branded residences, other parts of Florida are also seeing growth in the luxury real estate sector:
- Orlando: The Four Seasons Private Residences Orlando at Walt Disney World Resort offers a unique blend of luxury living and theme park proximity.
- Tampa Bay Area: The Ritz-Carlton Residences, Sarasota, brings branded luxury to Florida’s Gulf Coast.
- Naples and Marco Island: While not yet home to an influx of major branded residences, these areas are known for ultra-luxury properties and could be hot future locations.
Summary
Branded Residences aim to provide a world class, exclusive luxury lifestyle, but as much as developers can try, branded real estate alone, cannot provide the complete lifestyle.
Miami remains at the forefront of the “lifestyle” factor offering a unique proposition where residents can truly “live like a star and party like a local.”
A world class branded residence in a world class lifestyle city, now we are talking!
BRESI is the world’s first platform dedicated to the selling and marketing of branded residences. BRESI is an exclusive platform for owners, developers, and hotel groups to promote luxury branded residences
Our goal is to highlight the best branded real estate for sale around the globe, and to provide insight and news from the luxury real estate sector
DISCLAIMER: All information in this article is for information purposes only. For more detailed information please visit the links cited in the article. BRESI claims no copyright to any of the images.
- Staff Writer
- Insight
- Miami’s Branded Residences
- Miami’s Branded Residences: Live Like a Star, Party Like a Local