Art Basel has definitely had a positive impact on the Miami luxury real estate market, particularly in recent years. In the beginning years of Art Basel Miami, art collectors and wealthy people were coming to Miami to simply attend Art Basel, art venues, go to events, and party in the city.
In the last several years, however, we have noticed a significant increase in showings of luxury homes during Art Basel week, mostly to out of town buyers. This is because throughout the years these art collectors, wealthy people, and other Art Basel visitors had a chance to see Miami and everything it has to offer. Besides Art Basel week, Miami has diverse and friendly culture, many sports venues, museums, beautiful landscape and beaches, fine dining, and last but not least ultra-luxury real estate and waterfront lifestyle to accommodate these discerning buyers. This world-wide publicity and exposure Miami has been receiving around Art Basel week, and the fact that Florida has no state income tax, has put Miami on the world map. In recent years, Art Basel visitors see this week as an opportunity to not only see art and party, but also preview and buy real estate. December is one of the best months to visit Miami and we are happy that Art Basel week had brought the attention to our luxury market segment.