1. photographybyJimarbogast(batchelor)
continued on page 330
California, Europe, India. They fall in love with [Miami], they get a taste
during Basel, and then they come back for a long weekend, go deeper and
figure out what part of South Florida works for them. Then there’s your
international buyer. When people look into moving here permanently, it
becomes different. People put their toe in and come for holidays and it’s a
second-home market, but then they like it here, [their kids] can go to college
[here]. Now we have world-class medical [facilities] and universities. All the
pieces of the puzzle are here.
Niki Higgins: The Knight Frank Wealth Report 2014 says that Miami is the
number-two [top global city in the] US [region]. And as far as cities in the
world that ultra-high-net-worth individuals (UHNWI) want to be in, it’s number
eight. And 20 percent of them are considering buying a new home this year.
NB: Just like the art world has exploded in the last 12 months, so has the
ultra-luxury market. [The Nancy Batchelor Team has] had more sales in
the last 12 months of $1 million, $5 million, $10 million and higher than in
the past few years.
NH: The UHNWI wants to come to cities that are ranked on economic
activity, quality of life, knowledge and influence and political power, so the
US is very appealing. These individuals are moving and reallocating their
The Basel Boom
Two powerhouse, record-breaking luxury real
esTaTe agenTs discuss whaT’s changed in The
MiaMi MarkeT since lasT year’s arT basel.
moderated by julia ford-carther
Nancy Batchelor
and Niki Higgins on
the balcony of
Apartment 1402 at
the Continuum.
Art Basel serves as a benchmark for the health of Miami’s cultural and eco-
nomic states. Last year’s acclaimed event—along with several infrastructure
developments in the past 12 months—added to Miami’s allure as an interna-
tional landmark for high-end living. Nancy Batchelor, of The Nancy Batchelor
Team at EWM Realty International, and Niki Higgins, director of luxury sales
attheSeasidePropertiesGroupatDouglasElliman,takealookathowMiami’s
real estate market has grown since the 2013 fair, and why last year’s buyers are
here to stay.
Nancy Batchelor: We’ve got three buyers: The millennials who went to
college [and] came back. They’ve got baby-boomer parents [who] are buying
big stuff. We’ve got the hedge-fund market, which is not just New York; it’s
A view of the
Continuum condo
tower at the southern
tip of South Beach.
Potential buyers are
drawn to the luxury
oceanfront lifestyle the
Continuum offers (here,
the living room).
328 oceandrive.com
eminent domain Real estate Roundtable