Luxury Real Estate In Miami Gaining Value Faster Than Any Of The World’s Largest Cities

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.

KFREPORT

 KFR2