Ranking major cities in the world comparing luxury real estate prices, Miami #1 with highest price growth in third quarter 2021. Miami grew the most at 26.4%.
MIAMI, FL, USA, November 12, 2021 – Global prices rose on average by 9.5% in the third quarter of this year. Major gains were also in cities like Seoul, Shanghai, and Moscow according to Knight Frank.
With inflation, increased money supply, high demand, and low supply, cities were busy in the 3rd quarter. Over 85% of major cities had luxury real estate prices rise in comparison to 76% in the previous 3 months according to Knight Frank which looked at the top 5% of the market in 46 cities.
Miami benefited from the largest growth of the cities analyzed by this report. Miami showed a 26.4% in average price increases in the 3rd quarter the Data showed.
The Knight Frank Prime Global Cities Index Q3 2021
Rank City World Region 12-month % change
1 Miami North America 26.40%
2 Seoul Asia 22.60%
3 Shanghai Asia 20.50%
4 Moscow Russia & CIS 20.50%
5 Toronto North America 20.40%
6 San Francisco North America 20.20%
7 Taipei Asia 18.90%
8 Los Angeles North America 18.20%
9 Guangzhou Asia 17.60%
10 St. Petersburg Russia & CIS 15.50%
Ranked by annual % change
“This is just the beginning”, says Maria Kuzina, broker for Miami Luxury Real Estate LLC.
“All the growth we have experienced is primarily from domestic US demand, and companies relocating to Miami. High Net Worth Individuals from California, New York, and other major cities are changing residences to Miami for lower taxes, better weather, more freedom. As of Monday, November 8th the U.S. has opened up travel restrictions from 33 countries, and buyers have their focus on Miami”, says Maria. International buyers love Miami because it is a world-class global city with bargain real estate prices compared to other similar global cities.
Other high-performing markets include Seoul with an average price increase of 22.6% in the third quarter, Shanghai and Moscow with 20.5% increases. Toronto with 20.4% increase according to Knight Frank report.
“Buyers who are interested in purchasing in Miami should be doing it now, says Daniel Pansky of Miami Luxury Real Estate. With the season starting, and major events coming up like Yacht Shows, Art Basel, Bitcoin 2022, and Formula 1 we are seeing a small inventory of luxury products in the market and unprecedented demand as it is”.
Miami Luxury RE LLC specializes in High Net Worth Individuals (HNWIs) primarily from Mexico, the UK, Brazil, Canada, and other international buyers. The company specializes in Luxury pre-construction properties.
Maria Kuzina of Miami Luxury Real Estate says, “Our clients purchase primarily in the $2-$50 million range. We are currently working with several International HNWIs that are looking to purchase Penthouse in Miami in the $10-$50 million range. We also specialize in working with celebrities, and sports professionals.”
“What separates MLRE from others is our attention to detail, superb negotiating skills for buyers/sellers, and handling our clients with golden gloves. Also, a professional network of lawyers, accountants, and other services catering to the HNWI. Our work ethic and professionalism are unparalleled,” says Kuzina.
MLRE is also currently representing several buyers and sellers on Fisher Island and Sunny Isles Beach in the $5-$38 million range.
MLRE has one of the most extensive websites for Luxury Real Estate in Miami – www.miamiluxuryrealestates.com. For all your Luxury Real Estate buying and selling needs, please call Maria Kuzina, Miami Luxury RE LLC, +1-855-75-MIAMI (64264), or visit our website at www.miamiluxuryrealestates.com
Miami Luxury RE LLC