Miami Tops World in Ultra-Rich Second Home Ownership
The Allure of Miami for Ultra-High-Net-Worth Individuals In recent years, Miami has rapidly ascended as a premier destination for ultra-high-net-worth individuals (UHNWIs). A constellation of factors aligns to create an irresistible allure. A key attraction is Miami's luxury lifestyle intertwined with its coastal charm. The region’s subtropical climate provides year-round sunshine. This climate draws UHNWI homebuyers seeking an outdoor-centric lifestyle. Despite the broader housing apocalypse , which has made 80% of major U.S. counties financially devastating for homebuyers, Miami's market remains buoyant for the ultra-rich. The appeal of waterfront living, marina access, and pristine beaches complements the luxury lifestyle synonymous with Miami. Beyond the natural allure, Florida's favorable tax environment provides significant financial incentives. With rising costs in Miami , like insurance premiums and condo association fees, demand remains strong among wealth purchase...