Luxury real estate in Miami gaining value faster than any of the world’s largest cities

Posted on 13 May 2015 in Miami What's New | 0 comments

Over the past six months, luxury property in Miami has appreciated in price more than any major city in the world, according to new statistics.

Knight-Frank’s most recent Prime Global Cities Index reports that Miami luxury real estate rose by 22% through the six months ending in March 2015. No other city was able to manage a double digit increase.

Over the past year, Miami ranked third with a 12% increase. San Francisco and Bangalore, India edged out Miami during that time period.

The report defines luxury property as the top 5% of the market. In addition to Knight-Frank research, data is sourced from Douglas Elliman.

In a report earlier this year, Knight-Frank ranked Miami as the sixth most important city to ultra-high-net-worth individuals.

 

 

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