Miami real estate circles have been buzzing about what some are calling the “Mamdani Effect.” Miami brokers report that inquiries from New Yorkers have risen as clients worry about potential tax hikes and a less business-friendly environment under a Mamdani administration.
According to June 2025 statistics, condos in buildings over 30 years old are spending an average of 62 days on the market—significantly less than the 79 days seen in buildings 29 years old or newer. Meanwhile, luxury condominium sales priced at $1 million and up increased by 6.4% year-over-year in June 2025.