The future is bright for Future when it comes to his real estate portfolio … because he just dropped 10 figures on an island paradise.

Real estate sources tell TMZ … the “Mask Off” rapper just bought a $16.3 million home on Allison Island in Miami Beach.

The place is absolutely palatial … it’s 8,897 square feet of pure luxury, as the 7-bedroom home features picturesque water views from the super exclusive island.

The master bedroom has a full wet bar and wine fridge, plus two huge walk-in closets and a private balcony spanning the entire length of the home.

Future’s new crib has a backyard that sounds straight out of a tropical resort … there’s a pool and a spa, plus multiple dining areas and even a place to park a yacht. Miami living at its finest.

Jordan Karp represented Future in the sale, while Dina Goldentayer of Douglas Elliman repped the sellers.

Will Smith said it best … bienvenido a Miami!!!

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