What do luxury buyers want in Miami?

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When someone has millions of dollars to spend on the home of their dreams, what are some of the key elements they look for? Kobi Karp, an architect who has designed luxury resorts and who now designs stand-alone mansions, has the answer.

When Karp began designing homes in Miami in 2012, people who were relocating to the area were looking for big, luxurious homes that were hard to find, according to an article by James Tarmy for Bloomberg.

While Karp’s houses are spectacular, you have to be in the market for a home between $5 million and $40 million, the article states.

Here are some of the amenities he says luxury buyers want most:

  • Roof terraces
  • Dramatic up-lighting
  • Glass elevators
  • Floating pool cabanas

Luxury homebuyers should be careful, however, as a report in May showed that for the first time since 2012, sale prices decreased for the luxury housing market, defined as the top 5% of homes sold in a given quarter, according to a report by Redfin.

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