How Miami transformed from seasonal playground to one of the world's most serious luxury real estate markets in just five years.

Five years ago, a $20 million sale in Miami Beach would have been exceptional news. Today, it barely registers. Miami's luxury real estate market has undergone one of the most dramatic transformations in the history of American real estate.

The catalyst was pandemic-era migration, but the story runs deeper. Florida's tax environment has always been attractive, but it took a generation of remote-work-enabled wealth relocation to fully catalyse Miami's potential.

The city responded. In five years, Miami has added three Michelin-starred restaurants, several world-class museums and cultural institutions, new private schools attracting families from across the US, and infrastructure upgrades that are making the city increasingly livable year-round.

"The real estate market has been transformed. Coconut Grove is now competing with South Beach for the most sophisticated buyers. The Design District has established itself as a genuine luxury residential destination."