According to the Miami-Dade County Property Appraiser’s Office, the countywide taxable value for 2025 increased by 10.7%, reaching approximately $471.5 billion. While this represents a significant sum, it is a deceleration compared to the 12.7% growth recorded in 2024.
The newly opened retail and dining spaces of Miami Worldcenter marks a major milestone in the $6 billion development—now the second-largest urban mixed-use project underway in the U.S., second only to New York’s Hudson Yards. Partners plan to continue with billions of dollars of development.
The 2.8-acre parcel, located at 700-799 Brickell Avenue, was once slated to become the One Brickell City Centre, a 1,000-foot-tall office tower. However, Swire scrapped those plans earlier this year, citing difficulties in the current office market.
The condominium sales in the South Tower of the two-tower project reached a major milestone by surpassing $1 billion. The 66-story tower is now 50% sold, underscoring the city’s continued demand for high-end real estate.
As of May 5, 2025, no recertification documents had been submitted, prompting the city’s Unsafe Structures Board to schedule a hearing for May 16 regarding the condo association’s non-compliance.
According to a recent report, Miami recorded the lowest office vacancy rate among the top 25 U.S. markets in Q1 2025, at 15.5%. Miami also stood out as the second-strongest market in terms of high sales prices.
The initial component, a residential building named Aurea, will be reviewed by Miami’s Urban Development Review Board on May 21.
To avoid paying tariffs right away, many companies choose to store products in an FTZ. Technically, the goods haven’t entered the U.S., so no tariffs are due until they leave the zone and are brought into the country.
Miami’s office market has experienced a significant resurgence in early 2025, with leasing activity reaching its highest levels since late 2023 and rental rates climbing sharply.
New York City had already been losing residents since 2017, but the trend accelerated during the pandemic. Many of the wealthiest chose Florida—particularly Miami and Palm Beach. This influx of high-income buyers led to a sharp rise in home prices.