South Florida Luxury Real Estate

The luxury threshold in Miami sits at $2 million, with everything above that price point considered premium-tier. The strength of the market is reflected in the numbers: South Florida logged 361 ultra-luxury transactions ($10M+) in 2025, the second highest annual total ever recorded. The segment spans oceanfront condominiums, waterfront estates, and branded residences that pair world-class architecture with resort-level amenities.

Brickell's luxury condo market spans a wide range — entry-level units start around $1.2M, while penthouses regularly trade above $5 million. On a per-square-foot basis, buyers in 2026 are paying between $800 and $1,200 for most buildings, though the most exclusive towers push well past $1,200 per square foot.

Several addresses consistently rank at the top of Miami's luxury market. Sunny Isles Beach is home to Porsche Design Tower and Armani Casa; Miami Beach claims Faena House and Four Seasons; Brickell features Una Residences; and Key Biscayne offers the Ritz-Carlton Residences. Each building brings a distinctive identity through its design partnerships and curated amenities.

Foreign nationals face very few barriers when buying in Miami — no additional stamp duties apply and there are no ownership caps for most nationalities. Foreign buyers currently represent roughly 15% of the luxury market as of 2026. Mortgage financing is accessible for international purchasers, though lenders generally require a down payment in the 30–50% range.

Miami Beach oceanfront penthouses trade anywhere from $3 million at the entry end to well above $50 million for the most coveted residences. The average price per square foot in Miami Beach runs $900–$1,400, with enclaves such as Fisher Island, Star Island, and Faena House commanding a substantial premium above that baseline.

All-cash buyers move the fastest — closings routinely complete within 2–3 weeks when no financing is involved. Financed transactions follow a longer path, typically landing between 45 and 60 days from contract to close. Across the broader luxury segment, properties are spending an average of roughly 90 days on the market in 2026, while pre-construction units follow timelines tied to the development schedule.

Buyers in Miami should plan for closing costs that fall in the 2–5% range relative to the purchase price. The major line items are title insurance, documentary stamp taxes levied at $0.70 per $100 throughout most of Florida, recording fees, and attorney fees. International buyers carry an additional consideration: FIRPTA withholding, which should be factored into pre-closing financial planning.