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.
Trump won. What does this mean for Florida & Miami real estate?
Trump won the election, what does that mean for South Florida & Miami real estate?
Journalist Brian Bandel asked me that question the day after the election. And this is what I told the South Florida Business Journal: (published November 6)
“Given the team that he has assembled, most notably Elon Musk, I believe that a Trump presidency will be aligned with entrepreneurs and creators,” Bozovic said. “Since South Florida is attracting tax payers and creators, our housing market will be further super charged by an administration that fosters entrepreneurship.”
And I stand by every word of that. Furthermore, I feel that a subconscious pause has been lifted in the aftermath of the election. The next wave forward is about to commence.
And note: I am compiling October numbers. As per my thesis, the SFH market continues to hit all time highs. End user product within proximity of the urban core is a strong play.
I was also in this article the Daily Mail:
https://www.dailymail.co.uk/news/article-14055047/US-map-fastest-growing-states-census-population.html
Ana Bozovic, of Miami Analytics, who studied the data, said it showed a migration flow to Florida and other ’21st Century epicenters across America’ that will continue for decades.
‘Entrepreneurship and creation flow towards the path of least resistance,’ Bozovic said.
‘I do not see a reversal: there will be no mass reverse migration back to high-tax states.’
Download my full Q3 2024 Miami Real Estate Report
I had a busy week. An outline of updates is here.
1) I spoke at the Miami Global Real Estate Congress
My topic was #LongMiami.
2) I spoke at the Real Deal Forum in Miami
I interviewed Juan Arias, the Director of Market Analytics at CoStar.
Footage from both events will be posted soon.
3) I contributed to articles in the South Florida Business Journal and The Daily Mail.
4) I did another fantastic podcast with my friend David Siddons.
Teaser: Watch the full video, I do not think that Ken Griffin is stupid 😉
Miami Global Real Estate Congress
The Real Estate Congress was attended by delegates from 17 countries. The #LongMiami story was a resounding hit. And we were joined by Miami Mayor Francis Suarez, who communicated beautifully the upside and quality of life that we enjoy here.
I have a clip you can watch on my instagram, click on the thumbnail below:
The Real Deal South Florida Forum
I interviewed Juan Arias, the Director of Market Analytics at CoStar. Clips will be posted soon.
The Daily Mail
I contributed to an excellent article on the topic of intra-state migration. The data from the table I published in late October was used, as well as some additional insights.
The Daily Mail made the map below using my insights along with census data.
“Ana Bozovic, of Miami Analytics, who studied the data, said it showed a migration flow to Florida and other ’21st Century epicenters across America’ that will continue for decades.”
“Entrepreneurship and creation flow towards the path of least resistance,” Bozovic said.
“I do not see a reversal: there will be no mass reverse migration back to high-tax states.”
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