Did everyone read last week’s Business Monday cover story about Miami being a leading luxury capital of the world? It was a WOW moment for Miami where we were defined as “a cosmopolitan playground for the world’s wealthy,” “the American Riviera,” and “a magnet for capital and people from all over the world.” To put it in perspective Miami is:
- No. 7 of 10 top markets globally according to Wealth Report real estate
- No. 9 of 10 in luxury real estate markets according to Christie’s International Real Estate (Cote d’ Azur, London and Miami are the world’s most popular second homes)
- No. 9 globally and No. 2 in the United States in sales of Krug Champagne
- No. 1 globally in sales of Vilebrequin swimwear
- No. 2 in the United State in sales of Audemars Piguet watches
- Way the heck up there in world-wide sales of Breguet watches, Ferragamo shoes & accessories, Burgess Yachts, and Maserati cars
So those are some light-shedding statistics on this great city that I have called home all of my life and sold real estate in for 20+ years (specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, & Palmetto Bay). The most amazing characteristic of Miami is how resilient we are, and how quickly we recovered from the ‘dark days’ which were darkest in 2007 & 2008. By 2009-2010 we were well on our way to recovery, and 2014 was a record year for real estate sales in both luxury ($1mil+) and non-luxury real estate markets.
You can track the inventory and sales of luxury and non-luxury real estate in Miami for the last 12 years on the two graphs below (click on graph for enlargement):
To learn more about real estate in Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay, contact Val Byrne at [email protected] or at 305-323-6231. Val Byrne – Working For You!