MIAMI
Miami continues to thrive as a global destination for luxury real estate, supported by an influx of domestic and international buyers seeking both primary residences and investment opportunities. Edgardo Defortuna, president and CEO of Fortune Christie’s International Real Estate in Miami says, “In 2024, we observed robust demand for ultra-luxury properties, driven by favorable tax policies, high-net-worth migration, and Miami’s reputation as a dynamic cultural and financial hub.” Inventory in key segments has remained tight, resulting in a competitive market where cash offers and quick closings are common. This resulted in a 6.6% annual increase in the number of home sales over $1 million in Miami-Dade County and a 9.3% increase in Broward County, according to data from Fortune. “Looking ahead to 2025, we anticipate a continuation of strong demand, bolstered by Miami’s evolving infrastructure, the expansion of luxury branded developments, and increased interest from buyers across Europe and Latin America. While rising interest rates may temper activity in some segments, the luxury tier is expected to remain resilient, as affluent buyers often operate independently of traditional financing. A key trend to watch is the increasing demand for properties that offer wellness and lifestyle amenities,” Defortuna says.
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