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.

Plans Filed for Mama Hattie’s House, a Supportive Housing Project in Overtown Miami

A meaningful new housing project is moving forward in Miami’s historic Overtown neighborhood. Plans have officially been filed for Mama Hattie’s House, a seven-story, 88-unit affordable development proposed for 430 NW 9th Street. Designed to serve vulnerable young women—specifically those aging out of foster care or rescued from human trafficking—the project also includes 17,280 square feet of office and academic space for Girl Power Rocks, Inc., the nonprofit organization behind the initiative.

The development is planned for what is currently a vacant lot. Once complete, Mama Hattie’s House will offer more than just shelter—it will provide a stable, supportive environment with onsite services tailored to help its residents heal, grow, and thrive. Girl Power Rocks had set out to raise $25 million to bring the project to life, highlighting the community’s deep investment in this mission.

A Tribute to Mama Hattie

The building is named in honor of Hattie Williams—known lovingly as “Mama Hattie”—a longtime community leader in Overtown who dedicated her life to mentoring at-risk youth. She was a mother figure to many, offering guidance, love, and structure to girls navigating extremely difficult circumstances. This new project is a tribute to her legacy, continuing her life’s work in the neighborhood she called home.

Designed with Purpose

The project’s architectural design is being led by REPRTWÄR, a Miami-based firm known for its innovative, community-focused work. The design for Mama Hattie’s House incorporates housing alongside academic, administrative, and wellness spaces, creating a cohesive environment where young women can access the tools and support they need under one roof.

Girl Power Rocks, Inc. has long been a driving force for change in Miami, offering girls ages 11 to 17 programs focused on academic support, counseling, self-esteem, and leadership development. With Mama Hattie’s House as its future headquarters, the organization will be able to expand its impact and offer on-site services to girls in urgent need of both housing and healing.

Community and Context

Located at 430 NW 9th Street, the site sits in a highly accessible part of Overtown, close to public transit, the Health District, and Downtown Miami. Its central location ensures residents will have access to essential services while remaining rooted in a neighborhood with deep cultural and historical significance.

By filing for administrative site plan review, the team has taken the next step toward making this vision a reality. If approved, Mama Hattie’s House will become a vital resource in the community—one that not only provides housing, but helps rebuild lives, restore dignity, and honor a legacy that still inspires.

Miami Luxury Real Estate Nearly Doubled in Value Over the Past Five Years, Knight Frank Report Reveals

Knight Frank’s Wealth Report 2025 reveals that Miami has emerged as one of the top-performing luxury real estate markets globally, outpacing nearly every other major city outside Dubai. The report highlights that a $1 million investment in Miami’s prime residential market in January 2020 would have grown to $1.9 million by January 2025, reflecting a remarkable 90% increase in value.

This explosive growth underscores Miami’s evolution into a magnet for global wealth—driven by favorable tax policies, an influx of remote workers, and high-net-worth individuals seeking lifestyle, climate, and investment advantages. The report notes that Miami, along with Palm Beach and Aspen, has benefited from “super-charged growth” as global wealth becomes increasingly mobile.

Over the past five years, geopolitical upheaval, the COVID-19 pandemic, and shifting economic patterns have redefined global property markets. Yet, amid that uncertainty, Miami has thrived. The city’s robust performance aligns with broader global trends noted in the report: luxury real estate continues to be viewed as a cornerstone of both wealth preservation and growth, with 44% of global family offices planning to increase their real estate exposure over the next 18 months.

What’s driving Miami’s continued ascent? According to the Wealth Report, it’s a confluence of factors:

• Affluent migration from high-tax states like New York and California.
• Lifestyle shifts accelerated by remote work, making Miami an appealing primary residence.
• Limited supply of prime properties in coastal neighborhoods.
• Strong interest from international buyers, particularly from Latin America and Europe.

With Miami forecasted to continue its upward trajectory in 2025, the city remains a beacon for luxury property investment. Whether as a primary residence, second home, or long-term investment, Miami continues to prove its value to the world’s wealthiest investors.

Is Fed Chairman Jerome Powell on the Way Out? What a 300 Basis Point Cut Would Mean for Miami Real Estate

Federal Reserve Chairman Jerome Powell is once again in the political crosshairs. This time, the controversy surrounds a $2.5 billion renovation of the Fed’s Washington, D.C. headquarters. Critics, including several Republican lawmakers, have accused Powell of misleading Congress about the cost and scope of the project, claiming the renovation includes unnecessary luxury upgrades. President Trump has reportedly seized on the issue as political leverage to push Powell out of office—either through resignation or by invoking a rarely used provision to fire him “for cause.”

President Trump has made no secret of his dissatisfaction with Powell’s handling of interest rates. Since returning to the national spotlight, Trump has advocated for a dramatic 300 basis point (3%) rate cut, arguing that slashing rates from around 4.5% down to 1.5% would save the federal government hundreds of billions of dollars in debt servicing costs. According to his allies, such a cut could result in up to $360 billion in annual savings, although more conservative estimates put the figure closer to $174 billion in the first year alone. Trump’s goal appears to be replacing Powell with a Fed Chair who will aggressively pursue this monetary policy shift.

If implemented, a 300 basis point rate cut would be unprecedented in modern U.S. economic history. The last time the Fed enacted such a large move was during the 2008 financial crisis and again during the COVID-19 emergency response—both times with cuts closer to 100 basis points. A three-point reduction would significantly lower borrowing costs across the board, from mortgages to credit cards to business loans. This would likely lead to a surge in consumer spending, business investment, and home buying. Financial markets would almost certainly rally on the news, with equities, cryptocurrencies, and even gold seeing sharp gains in anticipation of looser monetary conditions.

But such a drastic move isn’t without risks. A key concern is the resurgence of inflation. Many economists warn that a rate cut of this magnitude could reignite inflation, potentially pushing it back above 5% after months of moderation. Another issue is the value of the U.S. dollar. Lower interest rates tend to weaken a country’s currency, and a sudden 300 basis point cut could lead to a rapid 10% drop in the dollar’s value—raising the cost of imports and exacerbating inflation pressures. There’s also the possibility of asset bubbles forming, especially in real estate and tech stocks, as cheap money floods the market.

In Miami, the implications of such a rate cut would be immediate and dramatic. Mortgage rates, currently hovering around 7%, could drop to the low 4% range or even lower. This would significantly boost purchasing power, particularly among first-time buyers and investors. Historically, even a 100 basis point cut can increase housing affordability by 10%; a 300-point cut could make homeownership viable for thousands more buyers practically overnight. Demand would spike, fueling a new wave of bidding wars, rapid price appreciation, and increased development activity—especially in high-growth neighborhoods like Edgewater, Little River, and Wynwood.

However, the downside in Miami would be a further deterioration in affordability. Home prices, already inflated due to limited inventory and migration from higher-cost states, could surge another 20% or more. That would likely push more locals out of the market and exacerbate the region’s housing inequality. On the investment side, commercial real estate—especially multifamily—would benefit from cheaper debt and renewed investor appetite, but office space and retail may see less of a bounce due to ongoing structural challenges.

From a macro perspective, such a cut could energize U.S. GDP growth, potentially pushing it above 3.5% annually. But the long-term consequences could be destabilizing. The move would almost certainly raise concerns about the Federal Reserve’s independence if it appears that political pressure—rather than economic data—is guiding monetary policy. Financial institutions, global markets, and U.S. allies could begin to question the stability and predictability of the Fed, which has long been a cornerstone of global financial confidence.

In conclusion, the rumors of Powell’s resignation—fueled by scandal and political pressure—could mark a turning point in U.S. economic policy. A 300 basis point rate cut would bring short-term relief to borrowers and spark a new wave of growth in places like Miami, but the risks to inflation, market stability, and Fed independence are considerable. Whether this is sound economic strategy or reckless short-termism remains to be seen—but the impacts, particularly on the real estate market, would be both swift and significant.

Florida Appeals Court Upholds Holdout Owners’ Rights at Biscayne 21, Setting Major Precedent for Condo Terminations

In a major win for Florida condo owners, the state’s Third District Court of Appeal ruled in favor of a group of unit owners at Biscayne 21, a 13-story, 192-unit condominium complex in Miami’s Edgewater neighborhood. The court upheld a previous decision that invalidated a developer-led amendment to the condo’s governing documents, which had attempted to lower the required vote to terminate the condominium from 100% to just 80%. On July 10, 2025, the court denied a motion for rehearing, affirming that the original declaration of condominium required unanimous approval to terminate the association and could not be modified unilaterally.

The case, brought by eight unit owners represented by attorney Glen Waldman, challenged the termination plan led by Two Roads Development and its affiliate, Empira Group. The developer had acquired 86% of the units in a $150 million bulk buyout and sought to redevelop the property into a luxury condo project—Edition Residences Edgewater. After several owners refused to sell, the developer-controlled board amended the termination clause, a move the court ruled violated the contractual rights of the remaining owners.

The appellate court’s decision not only preserves the rights of the Biscayne 21 holdouts but also establishes a significant precedent with potential statewide implications. According to legal experts, the ruling confirms that developers cannot retroactively change essential voting rights in a declaration—particularly when it involves something as consequential as terminating a condominium association. The decision is expected to complicate bulk buyout efforts across Florida, especially in cases where the original governing documents require unanimous consent for termination.

For developers, this decision adds a new layer of legal risk when pursuing aging condo properties for redevelopment. Florida has seen a wave of such efforts in recent years, especially following the collapse of Champlain Towers South in Surfside, which raised concerns about aging buildings and spurred legislative changes. However, this ruling signals that even amid redevelopment pressures, courts are willing to protect owners’ contractual rights and block attempts to dilute those protections.

Two Roads Development has stated its intention to appeal the decision to the Florida Supreme Court. However, until or unless the state’s highest court overturns the appellate ruling, the current decision stands as binding precedent. The outcome strengthens the position of holdout owners and may force developers to offer more favorable terms—or abandon termination plans altogether.

Ultimately, this case underscores the importance of understanding and respecting the original terms set forth in a condominium’s declaration. Boards and developers alike must tread carefully when altering foundational governance provisions. As Miami’s real estate market continues to evolve, the Biscayne 21 ruling will likely influence how future terminations are approached—not just in Edgewater, but throughout the state.

The Alley: A Boutique Preconstruction Opportunity in Miami’s Booming Little River

Miami’s Little River neighborhood is experiencing a renaissance—and The Alley is at the forefront of it. This boutique, 5-story condo development is the first lodging building in Little River to be offered for individual ownership, giving early investors the chance to claim a stake in one of the city’s most exciting up-and-coming districts.

Developed by Saxum International—an experienced and visionary team known for reshaping Little River’s residential landscape—The Alley offers 50 fully finished junior studios starting from just $315,000. Designed for maximum flexibility and rental potential, each residence is optimized for short-term stays with thoughtful layouts, clean modern finishes, and optional division for added guest privacy. Residences range from 358 to 382 square feet, with east and west-facing views and a payment structure tailored to ease: 20% at contract, 20% at groundbreaking, 10% at the third floor, and 50% at delivery in Q3 2026.

The building is rich in features that appeal to today’s traveler and digital nomad. Highlights include a rooftop coworking lounge, high-speed WiFi throughout, 24/7 parking for residents and guests, and vending machines for added convenience. HOA dues are a modest $1.37 per square foot and include reserves, making The Alley a hassle-free income-producing asset.

What makes The Alley truly special, however, is its location. Nestled at 183 NE 78th Street, residents will enjoy seamless access to the creative pulse of the city. The buzzing Wynwood Arts District is just 7 minutes away, the high-fashion Design District in 8, and Midtown Miami in 10. Even Downtown, Brickell, and Miami International Airport are within a 20-minute drive. And with a future Tri-Rail station planned as part of Swerdlow Group’s massive 7,500-unit development, Little River’s connectivity is only going to get better.

This is more than just a smart investment—it’s a front-row seat to transformation. With over $3 billion in approved development, Little River is evolving into Miami’s next cultural and investment hub. Projects from heavyweights like AJ Capital Partners, B Developments, and CEDARst Companies are bringing thousands of new residences, retail destinations, and creative spaces to the area. Property values here are appreciating faster than in more saturated markets like Brickell or Miami Beach.

If you’re looking for a high-yield opportunity in a neighborhood poised for explosive growth, The Alley delivers. With limited inventory, rising demand for short-term rentals, and a future-proof location, this is your chance to get in early on Miami’s next big thing.

Contact us today at [email protected] to schedule a presentation or to reserve your unit at The Alley.

Genting Group Sells A+E District Site for $20.9M in Major Opportunity Zone Deal

In a headline-making move that underscores the momentum of Miami’s urban transformation, a key 0.8-acre assemblage in Downtown Miami’s Arts & Entertainment District has changed hands in a $20.9 million transaction. The site — comprising six contiguous parcels — was sold by Genting Americas, Inc. to A&E District Holding Company, LLC, a subsidiary of SF QOZ Fund I, LLC. This landmark acquisition paves the way for a luxury, mixed-use development that will rise at the gateway to the city’s most ambitious public infrastructure projects: the Signature Bridge and the 33-acre Underdeck Greenway.

“This isn’t just a development site – it’s an opportunity to redefine urban living in one of Miami’s fastest-growing neighborhoods,” said Liam Krahe, Co-Managing Principal of SF QOZ Fund I. “We believe these parcels are situated in one of the most strategic, urban-core locations left in Miami.”

The newly acquired site, which spans 35,544 square feet, includes the addresses 1525 and 1515 NE Miami Place, 75 NE 15th Street, and 1502–1516 NE 1st Avenue. It sits within a federally designated Qualified Opportunity Zone — a distinction that not only enhances its investment appeal but also offers developers and investors significant tax incentives, including the potential to defer or even eliminate capital gains tax on qualifying investments. These zones have become hotbeds for smart development, especially in fast-growing metro areas like Miami-Dade County.

“With billions in public infrastructure, improved connectivity, and massive demand for multifamily rental housing, this is one of the rarest and most exciting real estate development opportunities in a Miami Qualified Opportunity Zone,” added David Cohen, Co-Managing Principal of SF QOZ Fund I.

The timing could not be better. The site is positioned at the intersection of culture, entertainment, and mobility — just steps from Biscayne Bay, Miami Worldcenter, the Adrienne Arsht Center, the Kaseya Center, and the future Underdeck Greenway. The Underdeck, inspired by iconic projects like NYC’s High Line and Atlanta’s BeltLine, will transform a 33-acre corridor beneath the Signature Bridge into a lush, pedestrian-friendly park, uniting neighborhoods and injecting a new layer of connectivity into Downtown Miami’s urban core.

Construction on the mixed-use tower is expected to begin in early 2026. The development will include luxury multifamily apartments and ground-floor retail — a blend that speaks to the area’s demand for upscale, live-work-play environments. Spearheading the project is a joint venture between McCaffery Interests and Grandview Development Co., both of whom bring national reputations for executing high-quality, transit-oriented developments.

As Miami continues to evolve into a global capital for finance, lifestyle, and innovation, this project stands as a bold investment in the city’s future — one that blends architectural ambition with economic opportunity, and urban revitalization with long-term value.

Florida-based Insurers Turn First Underwriting Profit Since 2015

After nearly a decade of financial turbulence, Florida’s property insurance market is showing signs of stabilization. In 2024, the state’s personal property insurers reported a collective underwriting profit of $206.7 million — the first since 2015 — marking a significant turnaround for an industry that has faced years of losses due to hurricanes, litigation, and escalating costs.

This positive shift is largely attributed to legislative reforms enacted in 2022, which curtailed excessive litigation and attracted new insurers to the market. The resulting increase in competition and capacity has begun to moderate premium hikes, offering a more stable environment for homeowners and investors alike.

For the Miami real estate market, these developments are encouraging. Stabilizing insurance costs can enhance buyer confidence and affordability, potentially revitalizing demand in a market that has been challenged by high premiums. As the insurance landscape continues to improve, Miami’s real estate sector stands to benefit from increased activity and investment.

While challenges remain, including the ongoing risk of severe weather events, the recent profitability of Florida’s insurers suggests a more resilient market moving forward. This newfound stability could herald a period of growth and opportunity for Miami’s real estate industry.

LIVWRK Unveils Visionary High-Rise Community in Wynwood Arts District

A bold new chapter is on the horizon for Miami’s Wynwood Arts District. LIVWRK, a Brooklyn-based developer known for forward-thinking urban projects, has submitted plans for a massive mixed-use development that will bring the area’s first high-rise towers to life. Designed by MKDA, the proposal—dubbed LIVWRK Wynwood—calls for three striking 45-story towers reaching 465 feet in height.

Located at 2400–2418 North Miami Avenue, the project spans an impressive 1.81 million square feet. It replaces a previously approved mid-rise plan and utilizes Florida’s Live Local Act to surpass local zoning height limits, enabling increased residential density in exchange for much-needed workforce housing.

In total, LIVWRK Wynwood will introduce 1,363 new residential units to the neighborhood. Notably, 529 units—representing 40% of the total—are earmarked as workforce housing. This includes all 494 studios and 35 one-bedroom units, which are expected to rent for approximately $2,800 per month. Residences will range from 453 to 1,306 square feet and offer a range of floor plans from studios to three-bedroom layouts.

At the base of the towers, an expansive parking and amenity podium will house 912 parking spaces and over 88,000 square feet of retail and shared amenities. Each tower will feature dedicated amenity decks on the ninth floor, along with lounge spaces on the 29th floor, offering elevated city views and recreational experiences.

The architecture, according to MKDA, embraces Wynwood’s artistic roots and industrial texture. The façade will feature raw materials like exposed concrete, perforated metal, and loft-style window frames, blended with lush green elements and art-driven details. A landscaped paseo will slice through the site, prioritizing pedestrian movement and linking NW 24th Street, NW 25th Street, and North Miami Avenue.

Carefully planned for walkability and community engagement, the ground level will be activated with retail, art installations, and widened sidewalks. Entry points will be recessed to create inviting alcoves, and murals will bring the street frontage to life. Meanwhile, the parking garage will be fully wrapped by occupied space on the lower floors to ensure an attractive and seamless pedestrian experience.

Balconies will vary in openness and rhythm, especially at higher floors, to allow natural light and airflow throughout the towers. The podium and upper levels will serve as platforms for large-scale sculptures, bringing a curated, gallery-like dimension to daily life for residents and visitors alike.

As one of the most significant proposals filed under the Live Local Act, LIVWRK Wynwood not only seeks to redefine the district’s skyline but also to create an inclusive, vertically integrated neighborhood that reflects Miami’s evolving urban identity.