Miami named top luxury destination for 2nd year

Posted on Wednesday, May 14th, 2014 at 3:19pm.

For the second consecutive year, Christie’s International Real Estate included Miami in its list of the top ten luxury property destinations. Other cities included Cote d’Azur, Hong Kong, London, Los Angeles, New York, Paris, San Francisco, Sydney and Toronto.

But even among those dazzling destinations, brokers say Miami stands out in terms of relative affordability.

Homebuyers get more for their money in Miami, Ron Shuffield, president and CEO of EWM Realty International, told the Miami Herald.

In fact, Miami’s average square foot price for luxury homes was just $559 in 2013 compared with $4,683 in London and $829 in San Francisco.

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