Just Released: Analytics Miami 2025 Q4 Report & Forecast Themes of the week: Wealth Migration • 2025 Q4 Report & Forecast • New Interviews Wealth migration is the theme of the week, and will be the theme of the century. Global HNWI relocations reached record levels in 2025 and still increasing into 2026. Within the United States, a clear trend persists: high value tax payers are relocating and our feeder jurisdictions are predictably increasing their hostilities to capital. The net effects of California billionaire tax are obvious. Recall that Bezos moved to Miami when his home state proposed a wealth tax. He would have accounted for 45% of the theoretical revenue. Today I read that the Netherlands is likely to start taxing unrealized capital gains at 35%. One starts to wonder what these regimes may start doing to curtain inevitable exoduses. Wealth mobility is real. Miami's emergence as a destination for wealth is evident in the year-end and Q4 numbers.
2023 Intrastate Migration Numbers Released by the Census: TX & FL winning
Given that the census figures just came out, this is a fitting time for this quote of mine recently in the Real Deal:
Ana Bozovic, broker and founder of Analytics Miam, saiid segments of the residential market that are
“catering to the wealth and talent migration,” such as the single family market, are outperforming everything else.
“This is all part of the ongoing polarization of wealth and belief systems I keep talking about and I don’t see it reversing.”
Article: https://therealdeal.com/miami/2024/10/20/the-weekly-dirt-south-florida-condo-market-weakens/
Download my full Q3 2024 Miami Real Estate Report
2023 Intrastate migration numbers are in, just released at census.gov.
Rather unsurprisingly, the post Covid trend continues. TX & Florida are once again #1 & #2 when it comes to net intrastate migration gains.
Scroll down to see the chart & exact numbers.
* Blue states, that tended to be high lock-down & are high-tax, keep losing population. (This is an observation, I am a registered independent). The top five population losers were all blue states.The two winners (TX & FL) have no state income tax. The two biggest two losers (CA & NY) have among the highest levels. I do not report on this with any personal joy, I grew up in NYC. It is what it is.
Actions speak. And I do not see this trend reversing. Meaning: I do not see a large reverse migration of tax payers into high tax states. And again, this is why Miami SFH sales past $1K and $2K per square foot are at all time highs.
Habits were broken during Covid, and life is reshaping (for some) around the capabilities of the internet. New 21st century epicenters and financial capitals are emerging.
* According to an Altrata report from earlier this year, the number of Ultra High Net Worth individuals in the US grew by 13% last year.
The wealth and talent migration is very real, as is America’s polarization of wealth & belief systems.
* Faena District Miami River announced, contact me for details
It it is the wealth & talent migration + the growth of wealth at the top that is fueling Miami’s prime, luxury markets. See below for a new release from Faena, as an example of a Miami project that is positioning itself to benefit from the continued action at the top and Miami’s continued ascension.
Faena District Miami River is Announced
Sales to begin at the end of this year.
Contact me for details.
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