Miami’s “Billionaire Bunker” is Indian Creek Island.

Jeff Bezos, Tom Brady, Julio Iglesias, Carl Icahn, Ivanka Trump, Jay Z and Beyoncé have something in common. They all live on a 300 acre man-made island in Biscayne Bay just across Surfside and south of Bal Harbour.

Indian Creek was officially incorporated as a village in 1939. It is known for its exclusivity and high-end real estate. Each home is built around the perimeter of the island to ensure that all residents have a waterfront view of Biscayne Bay. In the middle sits the Indian Creek Country Club, the ‘ultra-exclusive private membership’ Indian Creek Country Club with an 18-hole golf course.

The island is ocuppied by some 85 residents. It is monitored by its own private 13-person police force and a 24-hour marine patrol.

In October, J. Bezos bought a waterfront seven-bedroom mansion for $79 million which adjoins his other mansion bought earlier this summer for $68 million.

Image Credit: The Pinnacle List

Market Update: Miami’s Luxury Rental Market Slowing Down

The luxury real estate market in Miami is seeing a significant slowdown. Quick rise in new Miami residents has slowed down, more apartments have been built, and fewer people are willing to overpay.

  • So far in 2023, the median monthly rent for a luxury three-bedroom house in Miami-Dade County is $8,500, down 15% from $10,000 last year according to Analytics.Miami.

  • In September, the median monthly rent for a Miami one-bedroom apartment declined 1.47% to $2,690 from the month before, and 1.96% to $2,500 in Miami Beach according to Zumper.

  • The median rent for a one-bedroom nationwide, meanwhile, increased 0.1% to $1,511 during the same period.

Source: FloridaRealtors, October 19, 2023 I © Copyright 2023 INFORMATION INC., Bethesda, MD (301) 215-4688