Luxury property prices rose faster in Miami than any other U.S. city tracked by Knight Frank’s Prime Global Cities Index in the first quarter.
Four U.S. cities are tracked by the index, which monitors high-end residential prices.
Miami is benefiting from the new State and Local Tax (SALT) deduction laws put in place last year.
For the full year, prices in Miami are forecast to rise even faster thanks to those same tax changes.
Miami is expected to have the second highest appreciation of any of the 45 cities tracked worldwide in 2019, The Real Deal reported.