Downtown
Welcome to Miami, the Magic City. This highly multicultural city is unlike any other community in the United States. In addition to year-round tropical weather that will make you feel like you’re on perpetual vacation, the city has unique neighborhoods, from Downtown Miami to Little Haiti, showcasing a widely diverse heritage.
Whether you’re looking for a primary residence or a secondary home in the city, start your search for homes for sale in Downtown Miami, where you get to enjoy the best of both worlds – a laidback resort lifestyle and luxurious cosmopolitan living.
In this guide, we detail everything you need to know about downtown Miami real estate and what it’s like to live in this coastal metropolis in Southern Florida.
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$38,000,000
6 6 Beds
6 | 2 6 | 2 Baths
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A11306295 Listing No. A11306295
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$31,650,000
5 5 Beds
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A11488205 Listing No. A11488205
Condo Property Type: Condo
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$18,790,000
5 5 Beds
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A11546432 Listing No. A11546432
Condo Property Type: Condo
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$15,800,000
4 4 Beds
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4,904 SqFt 4,904 SqFt
A11525690 Listing No. A11525690
Condo Property Type: Condo
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$15,450,000
3 3 Beds
4 | 1 4 | 1 Baths
3,872 SqFt 3,872 SqFt
A11479289 Listing No. A11479289
Condo Property Type: Condo
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$4,950,000
3 3 Beds
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2,744 SqFt 2,744 SqFt
A11565298 Listing No. A11565298
Condo Property Type: Condo
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Listing Courtesy of Coldwell Banker Realty
The data relating to real estate for sale on this website comes in part from the participating Associations of the Miami Multiple Listing Service. The MLS data provided for the property above is provided courtesy of iHomefinder and Miami Association of REALTORS® The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
ABOUT DOWNTOWN MIAMI, FL
Downtown Miami is The Sunshine State’s core urban center where striking high-rise office towers, excellent shopping, various museums, and fantastic dining and entertainment dominate the scene. Also known as the Central Business District, it anchors the Greater Miami metropolitan area as well as the Greater Downtown area, which consists of several districts, including Brickell, the Historic District, the Government Center, the Arts & Entertainment District, and Park West.
The Central Business District occupies the area north of Miami River up to the MacArthur Causeway. This bustling neighborhood is home to around 14,000 people as of 2010 estimates. Throughout the Greater Downtown area, the daytime population swells from 67,000 to 250,000, demonstrating the large workforce this commercial and financial hub supports.
Downtown Miami has a unique skyline and is considered the historic center of Miami. Many of the city’s original buildings were built here and still stand today, particularly in the Downtown Miami Historic District.
With over 300 high-rise buildings, a number of which were designed by great names like Zaha Hadid and Jean Nouvel, the Greater Miami area is considered to have the third-tallest American skyline, mostly concentrated in the Greater Downtown area.
Brief History
The area where the city of Florida now stands was first settled by the Tequesta tribe who lived near the mouth of the Miami River. When the Spanish arrived in the 16th century, they retained control over Florida for well over 300 years, with a short stint of British rule during the 19th century.
The United States purchased Florida from Spain in 1821 with a price tag of five million dollars. The Seminole Wars devastated Florida, and it was only in the 1890s when pioneers like Julia D. Tuttle, known as the “Mother of Miami,” and William B. Brickell settled in the area. Tuttle, originally from Cleveland, planted citrus groves in the Miami area.
Florida’s turning point came after Florida’s Great Freeze of 1894-1895, which destroyed much of the state’s citrus industry. Tuttle reportedly sent American industrialist Henry Flagler a fresh orange blossom to prove that Miami’s citrus industry was thriving. This convinced Flagler to expand his Florida East Coast Railroad to Miami. He dredged a harbor and began constructing the Royal Palm Hotel.
Downtown Miami was at the heart of the city’s earliest developments, and along with the neighborhood of Coconut Grove, was the first area in Miami to be settled. With the slew of new buildings, homes, and businesses that arose, the city of Miami was incorporated in July, 1896.
DOWNTOWN MIAMI, FL HOUSING MARKET: AN OVERVIEW
If you’re interested in homes for sale in Downtown Miami, you’ll be glad to know that Miami has consistently experienced remarkable real estate growth. With the city’s sunny climate, rising population, and booming economy, Downtown Miami real estate offers great investment potential, blending global accessibility, consistent market demand, and strong market growth.
Condos for sale dominate the real estate market in Downtown Miami. In fact, you would be hard pressed to find any other property type in this highly cosmopolitan neighborhood. Most condominium complexes come with impressive amenities that include concierge services, round-the-clock security, laundry or dry cleaning services, parking garages, and more. They also feature a host of upscale community facilities such as swimming pools, fitness centers, recreational rooms, and barbecue areas. The most coveted properties come with boat docks or marinas.
Recognizing the gorgeous urban landscape and coastal views, many condos in the downtown area have large windows. High-end properties boast floor-to-ceiling glass walls, wrap-around terraces, and other features that take full advantage of the surrounding views of the water and the Miami skyline.
Homes for sale in Downtown Miami run the gamut from multimillion dollar penthouse units and stunning 3 to 4 bedroom condos to studios and one bedroom properties in slightly older developments, offering more affordable options.
Why buy a home in Downtown Miami, FL
As the commercial core of Miami and with the neighborhood’s coastal location, living in Downtown Miami puts you close to the many economic and leisure opportunities in the city. Not only that but a property in the area does not only make a great home but a fantastic investment opportunity as well.
These are some of the reasons to consider putting your money in Downtown Miami, FL homes for sale:
- Property values are on the rise – Miami has one of the fastest-growing real estate markets in the US. According to NeighborhoodScout’s data, home prices in the city have appreciated by 188% over the last ten years. Home prices in Downtown Miami have increased by around 63.6% from 2021 to 2023.
- Renters comprise a large percentage of the population – It’s estimated that some 70% of Miami residents rent. Investors looking for rental opportunities are purchasing single-family houses and condos for sale in downtown Miami, renovating them, and turning them into rentable properties.
Fun Fact: Rent in Miami, while lower than other large cities like New York, continues to rise. In 2022, the average rent in Manhattan for a 700-square-foot apartment is about $4,000, while the average rent in Miami for an 800-square-foot unit is about $1,900. This figure is up 27% since 2021. - Policies are landlord-friendly. Rules and policies in Miami offer more landlord autonomy than in other cities. For example, Miami doesn’t have laws on rent control or maximum caps on security deposits. Florida is stricter on rent payment, allowing landlords to evict tenants if they’re three days late or more on rent. Many other states allow late-rent evictions after seven days.
- Strong employment and tourism industries – Besides cruise stopovers and theme parks, Miami’s stunning beaches are some of its main tourist attractions. Greater Miami and Miami Beach welcomed over 26 million visitors in 2022, bringing in an estimated $20.8 billion in tourism spending. Those considering making Downtown Miami their permanent residence or renting out their properties will look forward to a great employment market and strong rental demand.
- Robust international market – Foreign-born citizens make up a sizable part of Downtown Miami’s population, making the city migrant-friendly. Many foreign investors are interested in Miami because of its stable economy, historically strong real estate market, and growing population of expats, young professionals, and retirees.
Miami’s real estate market is a great option for both experienced investors and those who want to dip their toes in the real estate market. With the city’s strong economic performance, growing population, favorable policies, and sizable rental market, the city is expected to continue thriving. As the heart of Miami’s economic activities, Downtown Miami is one of the most desirable places for homeowners and renters alike, making real estate here a highly viable investment.
LIVING IN DOWNTOWN MIAMI, FL
Downtown Miami is a significant commercial and cultural nexus between the United States, Latin America, and the Caribbean. The development and urban migration influx have shaped this community into a lively and hip neighborhood. Living here, you’ll be surrounded by high-rise condominiums and apartments, world-class entertainment and dining options, and family-run businesses.
Year-round Tropical Weather
Downtown Miami, FL’s climate is shaped by its proximity to the Gulf Stream. It’s classified as a tropical climate featuring hot and humid summers and short, warm winters. When you visit downtown Miami, even in the middle of December, you can swim in high 60 to low 70-degree waters.
Diverse Culture
A trip around the block of Downtown Miami highlights a vibrant cultural melting pot. Amid the concentration of high-rises, banks, business headquarters, historical buildings, and theaters are small local businesses showcasing Miami’s diversity. This city is a mosaic of cultures, each sharing its customs, food, art, and music.
Strong Economic Market
As the central business district, the significant businesses in Downtown Miami include hotels, tourism, retail, restaurants, transportation, and nightlife. Miami is home to some of the largest financial companies and has the largest concentration of international banks in the U.S.
In addition to tourism and finance, Miami is fast becoming a tech job hotspot. Over the past few years, hundreds of cryptocurrency and digital marketing firms have created rooms in Miami. In 2021 alone, there was over $970 million in venture funding within Miami, significantly larger than in 2016, at just $135 million in funding.
These vital and emerging industries highlight the metropolitan community’s sustainability and rapid growth.
World-class Dining, Nightlife, and Shopping
Miami’s food scene and nightlife are as hot as its tropical days. From clubs and rooftop bars to wineries and high-end dining, you’ll never run out of places to go and things to do in downtown Miami.
Downtown Miami is a food and shopping paradise. For starters, head over to Bayside Marketplace, which has over 30 restaurants as well as numerous shops and boutiques.
Close by is Mary Brickell Village where you can find a curated selection of shops and services along with restaurants that offer all kinds of cuisines and dining experiences.
Within a short walk or drive from Downtown Miami is Brickell City Center, which consists of four levels of open spaces dedicated to luxury shopping and dining, as well as entertainment. This mecca for shopping and people watching sits on three city blocks and is anchored by Saks Fifth Avenue and popular restaurants such as Casa Tua and Motek. It has become the heart of the area for its ability to get people together under one safe and comfortable space.
Walk along the historic Flagler Street and visit an endless array of jewelry shops, including the more than 280 retailers at Seybold Jewelry Building, as well as the prestigious International Jewelry Center and Kirk Jewelers. The historic Flagler District also abounds with countless restaurants offering everything from casual to fine dining.
For an exhilarating retail experience, don’t miss the mixed use Miami Worldcenter, under development, which boasts over 300,000 square feet of retail space and more than 40 restaurants.
Getting Around
In terms of transport, Downtown Miami is as walkable as it gets, but having a car is ideal for reaching surrounding locales. If you’re in the heart of the city, it’s pretty easy to navigate the streets. In addition to local mass transit like buses and the Metromover (automated rail), visitors and residents can rent scooters and bicycles. Residents and tourists can easily walk to top restaurants, events, and parks.
More Things to Do in Downtown Miami
Downtown Miami is one of those places that need no introduction. With glittering contemporary buildings standing side-by-side with traditional structures, the central business district gives off a unique vibe and distinctive energy.
You will never run out of things to do. For a day of cultural experiences and discoveries, visit Maurice A. Ferré Park (formerly Museum Park), Miami’s first outdoor museum. The park also hosts the Phillip & Patricia Frost Museum of Science where the entire family can enjoy a planetarium, an aquarium, and interactive science exhibits.
You can charter a boat or yacht and jet along the bay, watch a Miami Heat basketball game at the Kaseya Center (formerly the American Airlines Arena), or catch a live performance at the Olympia Theater. The Perez Art Museum Miami (PAMM) is the place to go to see the works of contemporary art masters.
In addition to everything the central business district offers, living in the downtown area gives you easy access to the exciting and diverse attractions in nearby areas like Brickell, Midtown, Wynwood, the Design District, and Coral Gables.
FIND THE PERFECT HOME IN DOWNTOWN MIAMI, FL
The Downtown Miami lifestyle has a bit of everything for everyone. It’s a great place to experience unique and diverse cultures, dine, work, and play. If you’re looking for your dream home or interested in investing in the area, our team of experts at Great Properties International Realty is ready to help you. As a boutique real estate firm, we specialize in catering to every client’s unique preferences and goals.
With over 20 years of real estate experience, we can help you find, sell, and buy a home in Downtown Miami the stress-free way. We create one-of-a-kind relationships with our clients through collaboration and open communication, and we have the expertise to work with both local and international home buyers and sellers.
Get in touch with one of our agents at Great Properties Int’l. Today! Reach us at 305.215.1686 or send us a message here.