Miami’s Luxury Real Estate Market to record prime price growth of 5% in 2019!

Miami’s Luxury Real Estate Market Forecasted to rise at one of the fastest rates in the world

Miami’s Prime Market Value is Growing, Despite Negative Numbers in Most Cities

Knight Frank‘s Wealth Report forecasts how key prime residential markets* are set to perform in 2019, and looks back at how its predictions for 2018 planned out. Miami is expected to be the 5th fastest growing luxury real estate market in the world. According to this Knight Frank report, it is ranked 5th out of 20 global cities and could grow at the second fastest rate in the world.

Worldwide however, value increases are slowing for the prime property markets. Knight Frank and Douglas Elliman foresee slower growth in prime property prices as central banks end easy monetary policy. As we learn to live without the ultra-low interest rates that have supercharged real estate markets globally since 2008, lower price growth is an inevitable consequence of the shift in monetary policy.

*Prime residential property is defined as “The most desired and expensive property in a given location, generally defined as the top 5% of each market by value”

Miami's Luxury Real Estate Market to record prime price growth of 5% in 2019!

Knight Frank’s forecast for the luxury (Prime) residential real estate markets around the globe

Florida’s Tax Climate and Comparatively Low Sales Prices are Fueling the Growth

For 2018, Miami prime properties were expected to remain stable with 0% market change. The reality was a 3.3% growth in price compared to 2017. This was positive compared to the average increase of prime residential property prices, which was just 1.3%, the slowest rate of appreciation since 2012.

With 33,300 millionaires, Knight Frank expects Miami to record prime price growth of 5% in 2019, outperforming a number of other key US cities such as LA and NYC. Prices are rising from a comparatively low base, new investment in the form of the Brightline train is boosting the local economy and Florida’s low tax status may spur some US residents to move to the sunshine state in the wake of the new State and Local Tax (SALT) deductions.

Miami's Luxury Real Estate Market to record prime price growth of 5% in 2019!

Miami’s prime property prices are expected to grow at one of the world’s fastest rates in 2019. This relatively fast growth is partly due to the fact that prices are rising from a relatively low base.

The Miami prime real estate market showed indeed positive signs as is documented in our latest Miami real estate report. We are still seeing some hefty multi-million dollar sales for example at the brand new Palazzo della Luna and Palazzo del Sol on Fisher Island

Read out full 2019/2020 Miami Real Estate Forecast, which covers Miami’s prime real estate markets of $3M+ properties

Contact David Siddons today to learn more about Miami’s Prime Real Estate Market and to get a forecast of the Miami Luxury Real Estate market for the year to come

David Siddons | +1.305.508.0899 |

David Siddons is a top producing Miami realtor with nearly $100M in yearly sales. He is known as a market analyst and out of the box thinker. He is the author of several of Miami’s most groundbreaking investment report and real estate forecasts.


These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!


For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.

  • Analytical

    Over 100 reports produced to date

  • Knowledgeable

    Over 1800 published articles and counting

  • Experienced

    Over $2 billion in real estate sales

David Siddons

Related Articles