Almost nowhere in the world have residential listing prices grown more rapidly than in Palm Beach and Miami, according to global real estate consultants at Knight Frank.
Each year, the company delves into the global state of “wealth creation,” including investment opportunities across commercial and residential real estate, compiling data into its wealth report. According to data collected between 2019 and 2024, Palm Beach saw the second-highest average home value increase in the world, while Miami saw the fourth-highest.
“Luxury U.S. housing markets have generally seen considerable outperformance over recent years,” according to the study. “Prime hotspots in Florida have experienced price growth at more than double the national average.”
- Miami Home to Second-Most Million Dollar Listings in U.S.
“Over the past five years, geopolitical and economic turmoil have reshaped global property markets,” the study states. “Amid the Covid-19 pandemic, inflation and rising interest rates, markets such as Miami and Dubai have thrived, driven by shifting work, tax and lifestyle patterns.”…