Miami Tops Altrata’s 2025 Report as the Global Epicenter for Ultra-Wealthy Second Homes

According to Altrata’s newly released Residential Real Estate 2025 report, Miami has officially cemented its position as the top destination in the world for ultra-high-net-worth (UHNW) individuals seeking second homes. With over 13,200 UHNW individuals owning secondary residences in the Magic City, Miami now outranks all other U.S. cities—including New York and Los Angeles—in this category. Globally, it ranks #1 as the most popular second-home destination for the ultra wealthy, a testament to its rising global status and appeal among elite buyers.

Several factors continue to make Miami an irresistible draw for the ultra-wealthy. Florida’s tax-friendly policies—particularly the absence of a state income tax—have long made Miami a haven for wealth preservation and strategic investing. But beyond financial benefits, Miami offers a lifestyle that few global cities can match. Its year-round sunshine, vibrant arts and culture scene, thriving culinary destinations, and pristine beaches combine to create an ideal environment for both full-time living and seasonal retreats. Furthermore, Miami’s geographic location and international airport offer unmatched access to Latin America, Europe, and key financial hubs, making it a practical and prestigious base for international UHNW individuals.

The report also places Miami among the top five cities worldwide in total UHNW residential footprint, alongside global heavyweights like London, Hong Kong, New York, and Los Angeles. This reinforces a growing trend: the ultra wealthy are increasingly viewing Miami not just as a vacation destination but as a cornerstone in their global real estate portfolios. As the global UHNW population is projected to grow by more than 33% over the next five years, Altrata anticipates that demand for high-end residential real estate will follow suit—and Miami is poised to absorb a significant portion of that surge.

For Miami’s real estate professionals, developers, and investors, the data presents clear opportunities. Demand is expected to skyrocket for luxury condos, waterfront estates, and gated communities—particularly in neighborhoods like Miami Beach, Brickell, Coconut Grove, and Coral Gables. New development projects that prioritize privacy, design sophistication, top-tier amenities, and global branding will have a distinct edge in this new landscape. Additionally, marketing strategies must be tailored to UHNW sensibilities, highlighting security, exclusivity, and long-term asset value.

Looking ahead, Miami’s luxury real estate market is entering a new era of international significance. With the UHNW population projected to grow rapidly and Miami emerging as a clear favorite, we can expect a rise in upscale development, increased buyer competition, and a greater emphasis on properties that deliver both lifestyle and legacy value. For agents, investors, and developers, now is the time to double down on Miami’s unprecedented momentum.

The Residential Real Estate 2025 report from Altrata doesn’t just confirm what many in the industry already suspected—it quantifies it. Miami isn’t just hot. It’s global, it’s elite, and it’s leading the charge in the future of luxury residential real estate.