As a luxury sales executive at Douglas Elliman, Christopher Adeleke learns first hand the hot new trends that buyers are seeking, from millennials to baby boomers. In a recent interview with Miami Agent magazine, the Miami native shared his predictions for how the city’s market will perform in 2018 — which neighborhoods will thrive, what buyers want and how the industry will prepare for and react to hurricane season.
1. What are your predictions on the top Miami neighborhoods for Millennials and why?
Brickell continues to be a sought-after neighborhood for millennials due to its live/work/play lifestyle. From my experience, I see many millennials working from home, and recently, developers have started including dens in their floor plans, which offers their residents the extra space to use as a home office or a crash pad for a friends and families to visit for a few days.
South Miami is wildly popular with starter families — the city of South Miami is much more affordable than Coral Gables. I have also noticed a lot of popular dining destinations that are in located in downtown Miami area opening other locations here. Plus, there is a major revamp happening with the retail in the area.
Shenandoah/Silver Bluff. These are charming Miami neighborhoods that are close commute for millennials that work in Brickell and downtown.
Miami Shores/Shorecrest/Upper East Side. Recently, I have noticed a trend in my friends and clients looking to move out of their somewhat costly rentals in Brickell and Midtown and moving a bit north in these areas. It is still very central — about a 15-minute drive to downtown Miami and Miami Beach.
2. What are your predictions on the top Miami neighborhoods for luxury buyers? And why?
Miami Beach. Waterfront properties are high in demand, whether it’s for primary residence or second home. Luxury buyers are looking for single-family homes where they can dock their boat in their back yard or a luxury condo building that offers hotel amenities and services like the 1 Hotel & Homes in South Beach.
Downtown Miami. This area offers a variety of ultra-luxurious high rises catered to many buyers taste. There are a number of aesthetically appealing buildings that will transform Miami’s Skyline, like Aston Martin Residences, One Thousand Museum and Brickell Flatiron.