But some of those neighborhoods have long been luxury havens; the million-dollar-home share in both Star and Watson Islands has been static since 2012.
Among the top 25 Greater Miami/Fort Lauderdale neighborhoods, ranked for gains in million-dollar-home share, each saw a minimum double-digit increase of 13 percent, while the top 10 all jumped more than 20 percent.
| Miami Neighborhood | Share of Million-Dollar Homes, 2012 | Share of Million-Dollar Homes, 2016 | Percentage Point Change Over Time |
|---|---|---|---|
| Navarrea Isle | 51.5% | 93.9% | 42.4% |
| Palm Beach Isles | 19.7% | 49.7% | 30.1% |
| La Gorce | 66.5% | 96.1% | 29.5% |
| Lauderdale Harbours | 28.2% | 57.1% | 28.9% |
| Biscayne Island | 25.7% | 49.3% | 23.7% |
| Nautilus | 18.8% | 41.2% | 22.4% |
| Lake Eden | 11.9% | 33.9% | 22.0% |
| Riviera Isles | 71.4% | 93.2% | 21.8% |
| Belle Isle | 3.4% | 24.3% | 20.9% |
| Bal Harbour | 4.3% | 25.2% | 20.9% |
| El Cid | 24.0% | 43.1% | 19.1% |
| Landings | 19.2% | 37.7% | 18.6% |
| Rio Vista | 35.3% | 53.2% | 18.0% |
| Hendricks and Venice Isles | 13.1% | 30.8% | 17.7% |
| Birch Park Finger Sts. | 26.1% | 42.8% | 16.7% |
| Breakwater Surf | 10.3% | 25.9% | 15.5% |
| North Beach | 8.8% | 23.5% | 14.7% |
| Harbour Inlet | 13.5% | 28.2% | 14.6% |
| Colee Hammock | 20.1% | 34.5% | 14.4% |
| Biscayne Point | 36.6% | 50.8% | 14.3% |
| Bermuda Riviera | 17.5% | 31.5% | 14.0% |
| San Marino Island | 86.2% | 100.0% | 13.8% |
| Palm Island | 84.8% | 98.6% | 13.8% |
| Di Lido Island | 84.6% | 98.1% | 13.6% |
The increases are a reflection of Miami’s growing popularity among international buyers as well as domestic high-net-worth buyers from New York and Chicago. The demand has helped establish Miami as one of the top luxury destinations in the world – as confirmed by its recent ranking as the No. 7 top-performing luxury market worldwide by Christie’s International Real Estate.