Miami ranked among most expensive world cities

Miami /
Aug.August 15, 2014 05:00 PM

Miami has been ranked 14th on a global list of the nation’s most expensive real estate by London-based Knight Frank, a residential and commercial real estate consultancy.

And it’s no surprise that the report credits Miami’s high prices to foreign buyers, according to CBNC.

“Miami’s ultra-luxury condo market — where prices start at $10 million — is performing better than the overall luxury market from a price perspective,” noted Peter Zalewski, a principal with the Miami real estate consultancy CraneSpotters. “The recovering economy and the surging stock market in the United States combined with economic and social strife overseas in places like Argentina, Russia and Venezuela are working to create competition for ultra-luxury real estate in popular but stable international destinations like Miami.”

There are currently 45 Miami condos on the market priced at or above $10 million, Zalewski told CNBC. And in the first seven months of the year, five units in that price range sold. [CNBC]Christopher Cameron


Related Articles

arrow_forward_ios
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
Derek Jeter and his Tampa mansion (Getty, Smith & Associates Real Estate/Luxury Portfolio International)
Jeter sells waterfront Tampa estate for record $23M
Jeter sells waterfront Tampa estate for record $23M
Palazzo Della Luna at 6800 Fisher Island Drive (Photo via Palazzo Della Luna)
Miami-Dade weekly condo sales, dollar volume up at year-end
Miami-Dade weekly condo sales, dollar volume up at year-end
(Google Maps, Fisher Island)
Miami-Dade condo sales, dollar volume fall during holiday week
Miami-Dade condo sales, dollar volume fall during holiday week
Map and Palazzo Della Luna, Miami Beach (Google Maps)
Condo sales, dollar volume rise last week in Miami-Dade
Condo sales, dollar volume rise last week in Miami-Dade
515 East Dilido Drive with Jonathan Cox (Douglas Elliman, Federated Cos.)
Federated Cos. developer buys waterfront Venetian Islands home
Federated Cos. developer buys waterfront Venetian Islands home
(Google Maps)
$35M closing at Faena House leads Miami’s weekly condo sales
$35M closing at Faena House leads Miami’s weekly condo sales
(Google Maps)
Condo sales rebound in Miami-Dade after Thanksgiving
Condo sales rebound in Miami-Dade after Thanksgiving
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...