Miami Makes the List of the Top 10 Luxury Residential Markets

February 5, 2014

The top 10 luxury residential markets were released in November of 2013 and Miami found itself on the list. This is the first time Miami has been named to the list and the city made it onto the list for many different reasons.

If nothing else, this shows that people are not just visiting Miami, but also staying. Whether they actually move to the city or use it as a second destination for part of the year, more residents are falling in love with everything the city has to offer.

Selection Criteria

Specific criteria were used to name the top ten luxury residential markets including:

•    Gross Domestic Product of the City
•    Number of Fortune 500 Companies Headquartered in the City
•    Number of Billionaire Residents
•    AT Kearny Global Cities Index Position
•    Globalization and World Cities Research Network Ranking
•    Ranking on the Swiss Bank UBS List of Expensive Cities
•    And Others!

Related: Why are Billionaires Flocking to the Porsche Design Tower in Miami

After looking at these criteria, the rankings included cities from all over the globe. It would be easy to put Miami on the luxury list for the United States, but when it comes to the entire world, this is a bit more of a difficult task. Other cities named to the list include:

•    New York
•    Paris
•    Toronto
•    London
•    Dallas
•    Hong Kong
•    Los Angeles
•    San Francisco

These eight cities, along with Miami were named to the top ten list of luxury residential markets. The French Riviera was also named to the list, even though it’s not a city.

Out of all the places the rich could live, these are considered the top ten choices. They are not listed in any specific order, but they are all very appealing to those with plenty of money. Of course, in addition to the many statistics and other rankings used to come up with this list, the weather is a huge draw for those moving to Miami.