Miami's Tech Buyers are Shaping the Residential Real Estate Market

 

Miami’s Tech Industry Surge is Driving Miami Luxury Real Estate

Miami, United States - September 19, 2022 /RGL Real Estate, LLC/

Great weather and endless beaches are not the only things drawing new residents to Miami today, says Nick Robinson, Miami real estate agent and founder of RGL Real Estate. As reported in Sotheby's International Realty 2022 Luxury Outlook, high-net-worth individuals in technology are shaping the luxury real estate market.

Driven by a highly favorable business environment, Florida saw the addition of nearly 3,000 technology businesses in 2021, more than any other state. According to a new report by CompTIA, much of that growth was in Miami, which saw 1 trillion in assets come to town. 

This surge of growth in the technology sector has pushed the already hot luxury real estate market into overdrive. 

Who is Moving to Miami? 

With the boom in technology businesses either starting up or relocating to Miami, a slew of high-net-worth individuals have relocated to the area. Some of these individuals include:

• Founder of TechCrunch, Jack Michael Arrington, moved to Coral Gables.
• CEO of Teal, David Fano, moved corporate headquarters to Miami.
• Justin Davis, Founder and CEO of Spectrum Labs moved to South Florida and relocated Spectrum's headquarters to Miami. 
• Former CEO of PayPal Holdings, Bill Harris relocated to Miami and launched Nirvana Technology. 
• Founder of Bling Capital, Benjamin Ling, bought property on Palm Island.
• Ryan Feit, co-founder and CEO of SeedInvest, moved to Miami
• Spencer Kupferman, CEO of PKWARE, bought a waterfront mansion in Bay Harbor.
• Edward Lando, CEO of Goody bought a home on the Venetian Islands.
• Co-founder of Oracle, Larry Ellison, relocated to North Palm Beach
• Michael Henning Tuchen, CEO of Onfido, relocated to Hillsboro from San Francisco. 
• Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund bought two waterfront Miami mansions in Miami.

What Are The New Tech Buyers Looking for in Miami Homes? 

While Miami’s envious weather, rejuvenating spirit, and posh hot spots are enough to draw the most discerning buyers, the selection of well-appointed properties is another huge advantage. Here are some of the top features tech buyers are telling their luxury real estate agents they want. 

Waterfront 

Today’s tech buyers place a high priority on waterfront property. Beachfront is highly desirable, but bayfront properties are also highly sought by those who own a boat and want the advantage of being between the water and the metropolis. 

Privacy and Security 

Privacy and security also make it to the top of the list of desired features, but how that is expressed can vary. Buyers are expressing to their Miami real estate agent that they prefer private gated neighborhoods, while others want homes situated in such a way that there is privacy, no matter how close the neighbors may be. Naturally, properties with advanced security technologies are also very attractive to home buyers. 

Single Family Homes 

Many of the home buyers are younger individuals, and they desire single-family homes, pools, and room for the family. Many see this as a sign that the tech industry is here to stay. 

Modern Kitchens

The kitchen is the heart of the home, and luxury properties demand a magnificent kitchen. Buyers are looking for well-equipped, commercial-grade kitchens with warming drawers, wine refrigerators, a walk-in pantry, and restaurant-quality appliances. 

Spa Bathrooms

From massive showers, soaker tubs, steam rooms, and radiant heat flooring, spa-like bathrooms are a must for luxury properties. 

Dedicated Spaces

From high-technology office spaces to in-home theaters or gyms, luxury homes home buyers want dedicated spaces for work, exercise, and relaxation. 

About RGL Real Estate Group

Founded and managed by South Florida residential real estate expert Nick Robinson, RGL Real Estate is an innovative, market-savvy, and top-producing boutique agency serving domestic and international clients. The industry-leading listing agent provides uncompromisingly superior customer service and unmatchable access to qualified buyers and sellers. 

If you are looking for a Miami real estate agent that specializes in serving the needs and interests of luxury home buyers and sellers, consider contacting Nick Robinson and RGL Real Estate. You can visit the website at https://www.rglrealestate.com or reach the group by phone at (305) 504-4235 

RGL Real Estate, LLC

1395 Brickell Ave., Ste 925

Miami, Florida, 33131