The number of sales of luxury homes in Miami worth $1 million has increased by 24.1% over the course of the last 12 months, increasing from 158 to 196, the report said.
The increase was also observed in deals with luxury apartments, the number of which has grown by 58.6% — from 58 to 92, according to Mansion Global.
Miami Realtors Association says that sales of the luxury real estate in Miami continue to grow because sellers set more affordable prices. Also, the sales uplift is due to the Federal Tax Reform, which is attracting an increasing number of home buyers from the northern states with a high purchase tax.
