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Real Estate Industry Expected to Grow as Formula One Comes to Miami


April 28, 2021

Formula One has recently announced that they plan to race in Miami in early 2022. This has sparked discussion amongst real estate developers and brokers as they boost their marketing efforts to appeal to this new crowd. The steps to bring the Formula One race to Miami commenced in April after a city vote finalized that grabbed a deal at Hard Rock Stadium (for ten years). This approval did not happen overnight and came with much opposition and negotiation over several years. However, as April came to a close, the decision was finally made.

High-end cars like Aston Martin and Bentleys have long been intertwined with high-end Miami real estate. Formula One’s fanbase is expected to bring in thousands of new buyers to Miami. The opportunities will be vast for real estate developers, brokers, and hotels for sales, sponsorships, and even ongoing partnerships.

Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, which is currently over the sales and marketing of the Aston Martin Residences in downtown Miami, said of Formula One’s prospect, “It’s like having a contract for the Super Bowl for ten years…it also brings spectacular clientele that takes millions of dollars in marketing to attract.”

Formula One has been to Miami in the past, but when they proposed racing in downtown Miami, there was too much opposition to continue. Its arrival this time around is expected to increase the new and quite large influx of out-of-state residents to Miami and South Florida in general.

Blackstone International Realty, LLC provides buyers, sellers, and renters with access to exceptional properties – both on and off the market – in the Miami Beach luxury real estate market and South Florida. Each agent is thoroughly trained to provide clients with exceptional service, competency, and professionalism. For more information on the company, Continuum South Beach, or Continuum condos for sale, call 305-707-6474.