Business News
Inside Miami’s Indian Creek Village, where billionaires buy high security
| Getty Images
Send an email
Meeting people on and around the island appeared to replace living rooms in New York City and Silicon Valley, as top agents revealed changes in the way business deals and business decisions are made outside of their traditional offices.
“One of my clients … is a VC, worth about 14 billion dollars, and he was from Manhattan, he went, ‘I put on a bulletproof vest, I’m going to war … Here, I go out in shorts and a t-shirt, I go on my conference call to a coffee shop, I finish that, I do another meeting … I found, I have a lot of peace with my life
With more than half of $1 trillion in combined income to live in Indian Creek, it’s solidifying itself as the center of permanent wealth migration. However, the combination of a multi-billionaire playground and a high-risk market for average buyers is broad – the UBS Global Real Estate Bubble Index for 2025 recently ranked Miami at No. 1 housing market with the highest bubble risk in the World, surpassing the peak of the 2006 housing bubble.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Miami’s spectacular skyline can be seen from many Indian Creek homes. (Getty Images)
But Johnston argues that the effect of the decline is to fund major public works, such as high-speed rail and affordable housing nearby for the many workers who support the island.
“I think it’s going to be very beneficial for Miami,” he said. “We’re getting too expensive and there’s a move away from that. But the city is doing something about it, developers are responding and there are neighborhoods now being built with good shopping and bus services and public transport, and I think it’s going to make the city better and better.”
READ MORE AT FOX BUSINESS
