How much does a house cost in the most luxurious neighborhood in Miami, chosen by Shakira, Ricky Martin and JLo
Some celebrities have chosen this Miami sector, in Floridato do your home. It is one of the more luxurious and expensive neighborhoodsbut many wonder What is the price of a home In this area, and if it is an exclusive area, only the legal residents or citizens can acquire a property.
Located in the pristina coast of Miami Beach, North Bay Road is one of the most coveted and prestigious areas From the city, describes the Homebourse real estate agency. The area is known for its impressive views of the Biscayne Bay and its luxurious properties.
According to data collected by The Wall Street Journalin recent years it has established itself as the richest residential area of the Miami-Dade County, with approximately 150 homes in front of the sea, jointly valued by more than 1700 million dollarsalong a stretch of approximately six kilometers.
For its part, Redfin points out that in February 2025, Housing prices at Upper North Bay Road increased by 709.5% compared to last year, and sold houses at an average price of US $ 25.5 million.
“A couple of neighboring properties in front of the sea In North Bay Road they were sold for a total of US $ 30 million at the end of 2024which highlights the strong demand for properties in this exclusive enclave, ”says Homebourse.
Known for its exclusive Urbanizations in front of the seait is a narrow and wooded street that runs parallel to the Biscayne bay. Among its residents, both past and present, celebrities are included and Matt Damon, Jennifer Lopez, Ricky Martin and Shakira.
“It is not necessary to be an American citizen to buy a house In the United States, ”says Bankrate. They warn that although everything could change under the Trump administration, according to current law, permanent residents, not citizens, refugees, asylum seekers and other migrants You can buy properties legally.
The financial services company refers that between April 2023 and March 2024, the value of the residential properties sold to foreigners ascended to US $ 42,000 millionaccording to a report by the National Association of Real Estate Agents (Nar).
However, they emphasize that non -citizen buyers They are usually obliged to provide additional documentation to complete the transaction.
As anywhere else in the country, the Purchase of properties for non -American citizens is generally allowed in Miamipoints out the Blackbook real estate agency.
“In general terms, if you are a foreigner, you have the same purchasing power as national buyers. A special visa to make the purchase is not required”, Says the agency. It should be noted that, like any American citizen, the foreigner will be subject to taxes if they rent, rent or sell their property.
However, it must be remembered that in Florida there is a new law that restricts some people and companies associated with China, Russia, Iran, North Korea, Cuba, Venezuela and Syria of possessing properties in the entity.
