Miami seduces the ultra-rich.

The Miami real estate market has become one of the priority markets for wealthier buyers. This, according to the Douglas Elliman and Knight Frank Wealth Report. 

Miami, which has been on and off the annual list for years, ranked fifth behind London, New York, Los Angeles and Hong Kong, based on the number of sales exceeding $10 million in 2022. 

The Magic City saw 146 home sales worth more than $10 million, and 23 deals of $25 million or more, last year. Among them is the purchase of billionaire hedge fund manager Ken Griffin, who bought a former bayfront home from Adrienne Arsht for $106,9 million.

Miami was not the only city in South Florida that entered this list. Broward County and Palm Beach County combined ranked seventh with 117 deals of $10 million or more, and 18 sales exceeding $25 million in 2022.

Additionally, Miami ranked fifth in terms of price growth, up 22% this year. Of the 100 markets Knight Frank analyzed, 85 saw no growth. On the other hand,. Dubai experienced the highest price increase for the second year in a row, up 44%. Aspen, Riyadh and Tokyo followed. 

What are you waiting for?

The Miami real estate market is growing more and more. As he office market as the luxury sectors have seen strong growth in 2022. 

What are you waiting for to invest in this constantly growing market and secure your profits? Schedule a consultation with a real estate expert, with more than ten years of experience in Miami. We will accompany you throughout the process, from your initial doubts to the delivery of the property. 

note based on Miami fifth top city for the world's ultrarich, from The Real Deal.