Miami’s Luxury Market Heating Up in 2018

The Sunshine State’s most popular city has been enjoying a great beginning to the new year. According to the Miami Association of Realtors, luxury home sales and existing condominium sales increased in February. The boost in sales is credited to Florida’s favorable tax treatment. With no state income tax and a pro-business tax structure, many northern buyers from expensive high-income tax states have begun flocking to Florida. Luxury homes are still lingering on the market longer than they were last year. But as the market picks up and more Northerners flee the frozen north, luxury homes might not be sitting empty for very long.