Miami has moved up in the closely watched Knight-Frank survey of cities that are most important to ultra-high-net-worth individuals.
In the survey, Miami ranks sixth in the world, compared to a seventh place ranking in 2014. In the western hemisphere, only New York ranks higher.
The report notes the ‘huge waves’ of investment flowing into Miami from Latin America. In addition to condo developments, investors from Latin America are now diversifying into commercial investments in the city.
New sources of investment are also forecast for Miami. Private investors from Hong Kong are likely to follow developer Swire into Miami. Miami is also now ‘firmly on the radar’ of wealthy investors from mainland China.
Knight-Frank top 40 most important cities to UHNWIs in 2015: