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Property of the month: 5 reasons to buy this Miami mansion

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Miami offers the best of both worlds

Picture courtesy of Shutterstock

Miami’s most exclusive beaches and island enclaves are perfect for superyacht owners who want to live between the beach and the glitzy metropolis. Francesca Steele explores a grand island home for sale with fabulous facilities for entertaining.

For a city that is barely 100 years old, Miami has always punched above its weight in real estate. It has regularly topped lists of best returns and is a treasure trove of luxury homes for international buyers, as well as well-heeled New Yorkers. People come for the sun, the cocktails, the art deco architecture and, lately, the fine art.

Recent figures show that the Miami market has cooled off in the past year. But this, says Jay Parker, of Douglas Elliman, is a good thing. “This market has never had stability. We have gone through tremendous growth over the past few years. It’s natural that it will start to calm at that point.”

So where to look? South Beach – and the Sunset Islands – are still popular. You can buy enormous Mediterranean-style mansions with sea views for $10 million or more. But Art Basel Miami has transformed Downtown into the Design District, and gentrified nearby Wynwood, too. Crumbling Downtown office blocks are now posh condos, priced from just $300,000. If you’re after capital gain (and up-and-coming neighbourhoods) this is the place to look.

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