Miami Ranks Third on Knight Frank’s Q1 2013 Prime Global Cities Index

It is no secret that the Miami luxury real estate market has performed remarkably over the past twelve months.  The latest report from Knight Frank confirms this.  The Miami luxury real estate market ranked third behind Jakarta and Bangkok on Knight Frank’s Q1 2013 Prime Global Cities Index.  Year-over-year, eight cities recorded double digit price growth for luxury homes but Jakarta, Bangkok and Miami led the way, recording annual price growth of 38.1%, 26.1% and 21.1% respectively.  Surprisingly, prices for prime property in New York City declined 7.1% in the same time period, according to the same report.