High housing prices, low wages, and other financial pressures are driving Miami-Dade residents away. The result is a concentration of wealth: higher-income individuals are moving in, while lower-wage workers are moving out, and overall population growth is beginning to stall. That’s not a healthy trajectory for long-term economic stability.
Coconut Grove is rapidly morphing into the city’s newest billionaire enclave, fueled by a wave of nine-figure real estate deals.
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.