In the early 1990s, Ugo Colombo saw the investment opportunity in Miami real estate, and now it is starting to reach its full potential. According to Norada Real Estate Investment, Miami real estate appreciated 57.70% over the last ten years, which is an average annual home appreciation rate of 4.66%, putting Miami in the top 10% nationally for real estate appreciation. Despite the downward motion nationwide in the housing market, Miami real estate appreciation rates are strong and have continued to appreciate in value faster than most places. The real estate market in Miami is doing well and has seen a dramatic increase in office locations.
Offices are Taking Over
Office development in Miami has hit its highest level since 2009, which is partially caused by the relocation of tenants from high-tax states. According to The Real Deal, 1.9 million square feet of office space is expected to be completed in the next two years. As of 2011, only 500,000 square feet of office space was expected to be completed, as opposed to the nearly 2 million square feet that is now expected. On top of the relocation of tenants from high-tax states causing this change, it is thought that corporations wanting to expand their Latin American business could also be another reason for this shift.
If you are thinking of investing in Miami real estate, especially in office space, it seems as though the statistics and numbers are on your side. Miami continues to become a “mini-Manhattan” and is seen as a good investment opportunity for the future.
One of the first things you’ll notice after taking a quick glance at the 2019 Alfa Romeo 4C Spider is its distinctive Italian style. The Spider features a sleek, aerodynamic design, giving it near perfect proportions for the ultimate driving experience. It delivers style, performance and power all in one.
A Thrilling Driving Experience
When put to the test, the Spider’s 1750 turbocharged 4-cylinder engine goes from 0-60 mph in an impressive 4.1 seconds. With 237 horsepower and 258 lb-ft of torque, hitting a top speed of 160 mph is in its blood. Behind the wheel, you’ll experience razor sharp handling and fast shifts. It’s truly a one-of-a-kind performance car, guaranteed to give you a driving experience like no other.
A standard rear back up camera, rear parking sensors and the Alfa DNA Pro Drive Mode Selector are all technologies to take your driving experience to the next level. Carbon fiber side vents and the option to put the top down make the Spider the perfect sports car.
If you’re looking for a sports car with ample amounts of space for luggage and seats designed for maximum comfort, you may want to consider another car. The 2019 Alfa Romeo 4C Spider is engineered to perform and designed to complement its true sports car performance.
Experience the 2019 Alfa Romeo 4C Spider at Ugo Colombo’s THE COLLECTION.
The all-new 2019 Porsche 718 Boxster keeps the same spirit as the previous Porsche 718 but with added elements intended for the future of driving. What makes the 2019 Porsche 718 Boxster different from the rest? This vehicle has better power and performance as well as a bolder exterior design. The Porsche 718 Boxster was designed to blow your mind.
Power and Performance
If you thought that there couldn’t possibly be more power added to this vehicle, you thought wrong. The newly developed 300 horsepower, 4-cylinder turbocharged engine with the same low and central center of gravity allows for an intense amount of acceleration with all the control you need for an amazing driving experience.
The exterior design can be described in three ways: bold, sleek, and sporty. The fenders are designed to be higher than the front lid to accentuate the new headlight design. The doors contour in such a way that not only do they look sleek, they also allow for proper aerodynamics to give you that powerful forward thrust. Lastly, the exterior mirrors have a new v-shaped mirror base to emphasize the sporty look.
To see the 2019 Porsche 718 Boxster, visit Ugo Colombo’s THE COLLECTION.
Some may think that the key to success in the real estate development industry is to take on as many projects as possible and hope for the best. However, expertise, attention to detail and planning are the true key elements to being successful.
Plan, Plan, Plan
CMC Group Founder, Ugo Colombo, was recently named a Power Leader in Real Estate by the South Florida Business Journal. He is an alumnus of the University of Miami with a degree in business administration. When asked what his key to a successful career is, his answer was simple. He only takes on one or two projects at a time and pays extreme attention to detail to each one.
He added that planning in the beginning stages of a project is crucial to the project’s success. It’s very similar to racing, if you aren’t prepared for the turn seconds before, there may be big consequences to pay. The same goes for real estate, if enough planning isn’t done before the project breaks ground, the price will be paid during or at the end of the project.
Forty years ago, Miami had a totally different look and feel than it does today. When you look at Miami now, you will see a beautifully diverse city with unique buildings and people. This diversity can be explained by the great value that Miami real estate offers on a global scale. Locals find the pricing of Miami real estate to be incredibly expensive, but foreigners see low prices for luxurious living.
Ugo Colombo brought his Italian architecture and design to his luxurious buildings in Miami. However, Italy is not the only country that will be seen and felt in Miami’s culture. We may see a number of unique architectural designs that are influenced by a number of different cultures as more foreigners dive into the inexpensive Miami real estate market. Although Miami real estate may seem expensive to locals, according to the Worldwide Cost of Living Report by the Economist, Miami is ranked at number 71 in the list of most expensive cities. Singapore, Paris, and Hong Kong were all tied for first place. These numbers indicate that inexpensive luxury living in Miami will bring in more foreigners who are eager to get into this market while the prices are so low. With more and more foreigners entering the city, Miami will become an even bigger melting pot and will see cultural benefits from all the new and unique backgrounds.
Since this dynamic partnership began in 1988, Ugo Colombo and Luis Revuelta have been unstoppable in the world of Miami real estate. Their first buildings, the Bristol Tower and the Santa Maria, were completed in the early 1990s. Since then, they have helped shape Miami’s skyline and continue on their journey today with their latest project coming to completion this summer. They focus on the influence of Italian culture in their buildings, but that does not mean all of their projects are alike. They adapt to the demands of the market at the time, and are always inspired by the ability to create a functional space that the inhabitants love to live in.
Design with Luxury in Mind
Ugo Colombo starts from the inside when planning a building. His main goal is to create a space that is enjoyable. His attention to detail and hands-on management produce a space that ensures functionality. Luis Revuelta likes to see movement in the design to create a “kinetic feel.” Unlike the stable, concrete structure on the exterior, his interior design creates flow and motion from one space to the next. With both of these masterminds working together, Miami has become a beautiful destination that locals and tourists love spending time in.