A building boom has allowed Miami to be transformed into a destination for the global elite, turning it into a true luxury market. The immaculate beaches of Miami, Universal Studios and warm weather create opportunities for fun, adventure and relaxation. Miami ranked number 8 – above Dubai, Paris and Beijing – on a list of ‘cities that matter’ to global high net investors according to Knight Frank’s 2014 Wealth Report.
Over 10 properties from Miami have been included in our top 50 residential real estate developments, including The Ritz-Carlton Residences at Miami Beach, the Four Seasons Private Residences and The St. Regis Bal Harbour.
Our comprehensive luxury real estate guide lists Miami as one of the top destinations for the global elite. Through carrying out our own independent research on amenities, we have been able to identify 30 properties within Miami that offer a variety of services and facilities, making it one of the most dominant locations on our list.
We have also used data from WealthInsight and Knight Frank, where both have considered 19 different attributes including current UHNW population, UHNW population projections for 2023, importance of the location currently, economic activity of the location, price change of luxury real estate in the past year, price per square foot and quality of life.
The amenities account for 55 percent of each development’s score, with the remainder based on location. Several amenities have been taken into consideration including the presence of a pool, secure parking, valet parking, 24-hour security, professional concierge, gym/health club, roof deck, helipad, cinema/media room, sauna/steam room, spa with treatment rooms, golf course access, ski-in ski-out location, on site restaurant, and marina dockage.
“Miami is the crossroads of the Americas, connects Europe to Latin America and now is an entry point to the Caribbean for the over $15 billion in Chinese investment. It’s also popular with Russia as well as CIS super rich families,” said Doug Gollan, Editor-in-Chief of Elite Traveler.
“Its vibrant arts scene is highlighted by Art Basel Miami and the Design District is attracting global luxury brands such as Cartier and Louis Vuitton to expand South from Palm Beach.”