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Fisher Island is a neighborhood in Miami considered one of the most luxurious in the United States. The community has already topped the rankings as the richest zip code in the US. Today it is in 5th place. To access it is only possible via ferry, which only transports its residents. There are just over 800 residences on the island, which offers paradisiacal beaches with white sand brought from the Bahamas. Some of Fisher Island’s celebrated residents are Ophrah Winfrey and Boris Becker.
Last 12 homes on Fisher Island are for sale
Such luxury and exclusivity awakens desire in the most exquisite investors and millionaires around the planet. All looking for a second home or home in one of the most coveted enclaves in the world.
However, the small size of the island and the low inventory available for sale creates a major barrier to entry.
Fortunately, 12 new single family homes are being delivered on the island. They are mansions of almost 1000 square meters that can cost US$ 33 million.
The houses offer very high standard finishes and will be delivered in a “turn-key” format, that is, furnished and ready to move in. According to the builder, 4 houses have already been sold and others are under negotiation.
Houses are the most expensive on the island
The price of approximately $33 million, which translates to $3,300 per square foot ($35,522 per square meter), ranks the homes as the most expensive on the island today.
Despite the high price, the asking price per foot of homes is not the highest ever on Fisher Island.
In March of this year, a former professional hockey goalie paid $21.3 million for a 4,417-square-foot (410 m2) apartment in the prestigious Palazzo Della Luna condominium complex. The amount paid per square foot was therefore $4,811.
Luxury segment with high demand in Florida
The new homes come on the market at a time when the Florida real estate sector is in a situation of total imbalance between supply and demand. South Florida, especially, is going through a time where demand is at an all-time high and available home inventory is at one of the lowest levels in history. Such an imbalance sent real estate prices soaring.
In the first quarter of 2022, the average sale price on Fisher Island was up 39.3% over the same period in 2021, according to a report by Douglas Elliman, with the number of days units stayed on the market dropping by 35, 5%. The average price per square meter on the island also rose more than 55.7% over this period, from $1,473 to $2,294.
Currency exchange does not affect luxury segment
According to the developer, most buyers are Americans or foreigners who have investments in the US and, therefore, would not be exposed to currency volatility. In addition, houses of this standard cater to an extremely qualified public, who are not discouraged by high interest rates or some factors that, in another class, would represent an obstacle to the purchase.
Houses can be delivered with a custom floor plan
The houses are still under construction, with delivery expected for the middle of the year (American summer 2022).
Buyers can change floor plans and buy a custom design, changing number of rooms, room size and other environments.
About AMG International Realty
AMG International Realty is a global real estate company specialized in Florida. If you want to know more about properties for sale in Fisher Island or another area of Miami, contact me right now and chat with me on WhatsApp: +1 305 318 6968 (Heloisa Arazi).