With forecasted sea level rises of two feet, Miami, a city at sea level, faces tremendous risks. Nuisance floods are predicted to occur daily and lower-lying parts of the city will be unlivable. Yet, paradoxically, the real estate market in Miami has never been stronger as international buyers flock to the city. In 2021, total home sales were up nearly 50 percent over the year before.
Robert Meyer, co-director of Wharton’s Risk Center, argues this is exactly what Miami needs. Miami’s public infrastructure is paid for almost exclusively via property taxes. Ultimately this means for the city to have the funds to deal with catastrophe, the real estate market needs to be healthy.
As Miami looks to the future, it will need realtors that can do the same. Enzo Rosani, who this year sold Miami’s very first unit for cryptocurrency, may be just the man. Located in Downtown Miami, the penthouse sold for just shy of $7 million. The buyer paid in USDC, a cryptocurrency pegged to the US dollar, after converting the money from Ethereum, the second most popular cryptocurrency after Bitcoin. “The future of real estate is here and crypto-transactions are becoming safer, easier, and are changing luxury real estate,” Rosani said. “Four to five years from now, I predict that 30 to 50 percent of real estate transactions will be done using cryptocurrency.”
Originally from France, Rosani used to be captain of the French National football team and even competed in two World Cups. Yet, his father worked in real estate in Paris, so the transition was actually quite natural for him. Rosani explains, “I have always been very competitive, results-oriented, and a team player, so whether it’s finding that perfect property, negotiating the best deal, or managing a team, this is nothing new to me.”
Currently Managing Director at Barnes International Realty, Rosani has launched their Sports & Entertainment division in Miami. This allows him to better cater to celebrities and athletes interested in buying in Miami, helping draw interest to the city. As Rosani’s career success grows, he brings much needed revenue to the city. In the near future, Rosani predicts that Miami will become America’s most important city.
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