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Welcome to the annual Berkshire Hathaway HomeServices Dream Destinations Report. Each year, we explore unique and exciting destinations that feel like a dream come true—for visitors, homeowners, and investors alike.

This year we explore a variety of locations—from the tranquil, healing waters of the Poconos and laidback life in San Diego, to the mix of extraordinary culinary and cultural adventures in Madrid, the buzz of Los Cabos and Miami’s beautiful beaches, and the electrifying bright lights of fabulous Las Vegas.

As leaders throughout the network shared what makes their region a dream to visit and live in, one common theme emerged: people who once visited these regions for weeks at a time are now choosing to spend months there—most citing the term, “secondary primary home.”

Many of the leaders shared that those who were previously seasonal renters or second home owners are now enrolling their children in local schools, and opting to spend only genuinely necessary time at their primary residence—typically located in a bustling metropolitan hub.

While the idea of living in a place that prioritizes lifestyle over proximity to the workplace isn’t new—especially since the pandemic—it’s encouraging to see that so many continue to embrace this outlook on life.

We often get caught up in the busyness of work, school, and daily commitments that pull us in so many directions. It’s always important to pause and embrace what we hold near and dear—and, of course, to remember to dream a little, too.

Vince Leisey President Berkshire Hathaway HomeServices

The Las Vegas revival continues at full speed

When Las Vegas started its attempt to reinvent itself as a family-oriented destination and shed its “Sin City” moniker, it felt like a tall order. But after an inﬂux of sports teams, unique high-end experiences, and luxury home construction, it’s clear that the city has truly carved out a new image that has transformed it into one of the most desirable spots in the U.S.

“Vegas is electric—and for high-end buyers, as much as they want their privacy, they want the electricity too,” said Troy Reierson, CEO, Berkshire Hathaway HomeServices Nevada Properties. “We’ve got zero state income tax, which is exciting for our clients, and of course the entertainment is second to none.”

activity, with the $1 million – $5 million market particularly hot right now.

At the ultra-luxury end, homes have started to sell for as much as $35 million. “We’re not seeing a lot at that price, but we are seeing lots of 15s, 20s—we’ve really crossed a threshold on that now,” Reierson said.

Entertainment can mean anything from seeing a world-class show to catching a game, race, or match—and with the Las Vegas Athletics set to join the Raiders, Golden Knights, and Aces in 2028, the city will have gone from being the largest U.S. market without a major league team to one of the smallest with at least four. “And NBA is coming,” Reierson revealed. “It’s not ‘Is it coming?’—it’s ‘When is it coming?’ That’s what the Commissioner is telling us.”

Residents also enjoy an enviable gastronomy scene as well as stunning surrounding landscape for outdoor activities. “People travel in for Formula 1 and say, ‘wow, there’s more to do around here than I thought.’ Red Rocks is 20 minutes away with some fantastic hiking—the mountains are really quite majestic,” Reierson said.

Luxury neighborhoods abound

Vegas’ luxury real estate market exploded during the pandemic, and while things may have cooled slightly in recent months, there is still much

Much of this activity is taking place in burgeoning upscale neighborhoods around the city. “It’s astronomical how fast we’re growing,” he added. “When you get off the Strip, you’ll ﬁnd these beautiful neighborhoods—The Ridges, Summit Club, Summerlin, for example—gorgeous areas lined with palm trees, rivaling California’s most iconic coastal cities.”

From excitement to serenity

For those looking for a unique adventure, you can’t ﬁnd a much better city. “Vegas is continually reinventing itself,” Reierson said. “And being a hospitality city, there’s that wow factor at every level, from middle-income to the ultra-luxury.”

Luxury Real Estate

From around $1 million to over $25 million

Exclusive experiences can be found around every corner—from the invite-only golf course at Shadow Creek to seeking out the variety of speakeasies and secret bars that are hidden around the city.

But what about those who value privacy and serenity as much as electricity and wonder? “That’s where indoor theatres, large kitchens, and triple pane tinted windows come in,” Reierson said. “When you are inside a luxury home in this area, it’s beautiful, it’s cool, it’s quiet. It is as serene as you want it to be.”

Los Cabos—from getaway to global investment hub

The perfect day in Los Cabos depends on the artist holding the brush. Whether it’s aboard a private yacht, reeling in a prize catch on a big game ﬁshing expedition, diving with sharks, racing off-road through the desert, soaring in a helicopter along the Sea of Cortez, or simply basking in the sun with a margarita in hand—Los Cabos offers a broad canvas for painting a lifetime of memories.

But it’s more than just the idyllic lifestyle drawing buyers to the sandy shores of Cabo San Lucas and San José del Cabo—the two towns that together make up the region of Los Cabos.

“Global real estate buyers have started to view the Los Cabos market as a second primary home destination, rather than just a vacation home getaway,” said Ian Gengos, Owner, Berkshire Hathaway HomeServices Baja Real Estate.

“Some who would visit just a few weeks out of the year are now enrolling their children in school here and staying for months,” he said. “While Los Cabos does meet the criteria for being a dream destination, you can have your cake here and eat it too.”

In addition to taking advantage of the infrastructure and high quality amenities Los Cabos now offers, global real estate buyers are also thinking about wealth protection and succession planning when it comes to investing more time and money into the region.

“Buyers are looking for properties that they can enjoy and also rent without restriction to offset the carrying costs. They also want a property that will hold its value or increase in value over time,” said Gengos.

Calling Los Cabos home

Gengos explained that one of the biggest misconceptions about the real estate market in Los Cabos—and Mexico as a whole—is that foreigners can’t buy and must rent instead.

Foreigners can purchase property in Mexico. When doing so near borders or coastlines, they must complete the transaction using a ﬁdeicomiso—a trust arrangement.

Gengos explained that establishing a trust in Mexico is relatively simple and can be arranged through local banks for under US$2,000.

For those who wish to fully relocate to Mexico, owning real estate can be a pathway to obtaining temporary residency and eventually permanent residency and naturalization. However, there are certain ﬁnancial requirements that must be met including set amounts for real estate investment.

Laidback style deﬁnes home and life

Gengos said that in recent years, resort-style communities have raised the bar for what buyers can expect to experience and enjoy in their Los Cabos home. In terms of home design, contemporary Mexican architecture with the integration of natural materials like stone and wood deﬁne the current Baja style and are among the most sought-after home styles throughout the region.

Luxury Real Estate

Luxury single-family homes start at US$2 million—depending on location and amenities

Entry into the most exclusive private communities start at US$8 million

Most Popular Season Fall to Spring Neighborhoods to Watch Cabo Real &

Puerto Los Cabos

Favorite Local

Dish & Drink

Passionfruit margarita & grilled totoaba

Most Instagrammable Location

“The lifestyle and quality of life coupled with the ever-widening range of interests that the area caters to will continue to pique the interest of buyers from around the world,” said Gengos.

“Above all, it’s the warm spirit and culture of its people—combined with Los Cabos’ laidback energy—that truly set the destination apart.”

El Arco

Bucket List Activity

Big game ﬁshing

Insights provided by Ian Gengos,

Modern Madrid: an evolving hotspot

A city famed for soccer, shopping, cuisine, and culture, Madrid never fails to captivate. And with competitive real estate prices compared to other European locales, it’s winning over a new wave of travelers eager to make it their second—or even primary—home.

Spain’s capital has long been a haven for well-heeled international buyers and stylish locals, but in the past decade, two key shifts have emerged: younger high-end buyers are embracing Madrid’s chic appeal, and the neighborhoods drawing wealthier residents are evolving.

“In recent years, we’ve been seeing more buyers in their mid-30s purchasing ultra-luxury properties,” said Bruno Rabassa, CEO, Berkshire Hathaway HomeServices Spain. “We haven’t lost the older buyers though— those who are looking to retire here.”

“The most desirable neighborhood for international buyers used to be Salamanca,” he added. “It’s home to our equivalent of Fifth Avenue—buyers wanted to be there because of its status.”

Amongst charming independent boutiques you’ll ﬁnd designer names like Chanel and Hermès, but for basics like bread and milk, residents of Salamanca must venture a little further. Instead, today’s buyers are turning to La Moraleja, an affluent residential district north of the city center.

“Here, you can buy large villas, you have 14 international schools, and you’re only 10 minutes away from the international airport,” said Rabassa. “There are two golf courses, plenty of opportunities for horse riding, and you can get to the city center by car in only 25 minutes.”

An international hub

Madrid’s signiﬁcance within Europe cannot be overstated. “The airport is considered one of the most important hubs connecting the Americas with Europe,” Rabassa said. “Often people will decide to stop in Madrid before visiting another city or country, spending a few days here before continuing their journey.”

“We have hundreds of direct ﬂights each and every day from Latin American countries like Mexico, Brazil, Argentina, Chile, and Colombia, as well as many direct ﬂights to and from the U.S.,” he added.

Experience the city like a local

Once amongst the grand architecture and vibrant streets of Madrid’s center,

the possibilities are endless. Kick things off at the Golden Triangle of Art, three world-renowned museums: the Prado Museum, the Reina Sofía Museum, and the ThyssenBornemisza National Museum. “You can spend days and days visiting these museums and discovering new pieces,” said Rabassa.

If you want to catch some fútbol, Madrid is home to two of the world’s most celebrated soccer teams: Real Madrid and Atlético Madrid—plus a third team, Rayo Vallecano. Real Madrid’s Santiago Bernabéu Stadium is a sight to behold, and offers tours as well as hosting concerts for mega stars like Taylor Swift.

Luxury Real Estate

From €2.5 million and up

Miami’s magic— high-end living in a high-rise haven

From sunset cocktails in Miami Beach to designer shopping in Bal Harbour, art walks in Wynwood, and the roar of F1 cars during the Grand Prix—Miami delivers a lifestyle packed with luxury, culture, and high-octane energy.

While 50 years may not seem like a long time for a city to grow from a “fun & sun” beach town to a fully-ﬂedged, bustling global hot spot and commerce center, that’s exactly what Miami and its pioneers have done.

“I think we’re probably one of the most international spots on the globe,” said Ron Shuffield, CEO, Berkshire Hathaway HomeServices EWM Realty.

“Young people want to be here,” he said. “They’re not waiting to transfer with a job, they are picking up and moving and ﬁnding a job when they get here. It’s a very exciting time to be in Miami.”

Living the high life

While the sprawling mansions of Star Island, Fisher Island, Coral Gables, and Key Biscayne draw buyers seeking a spacious sanctuary, it’s the high-end condos that rise into the sky in Brickell, Brickell Key, Downtown Miami, Miami Beach, and throughout the city that capture the hearts of the majority of luxury buyers looking to call South Florida their home.

“People from all over the country and from all over the world are attracted to Miami’s luxury condos,” said Shuffield.

Why? It’s because they have all of the amenities one could possibly want, and then some that you may have never dreamed of.

For instance, you could land your helicopter on the helipad at One Thousand Museum by Zaha Hadid. Dock your yacht after a day on the deep blue at The Ritz Carlton Residences Miami Beach. Or have concierge and hotel-level services at your ﬁngertips at the Four Seasons Residences at The Surf Club.

“Your Porsche can also ride in its own elevator to your high-rise condo at the Porsche Design Tower, where it can share a side-by-side oceanfront view with you,” said Shuffield.

Around $2 million to $3 million is typically the entry point to luxury real estate in

Miami, said Shuffield, adding that prices can surpass over $100 million—it just depends on what you are looking for.

With thousands of people ﬂocking from California and New York to live in Miami, Florida’s income tax-free status and appealing cost of living make multi-million-dollar homes look a little more affordable.

Never a dull moment, unless you want one

From enjoying multicultural cuisine that spans ﬁne dining to ﬁngerlicking street fare, to strolling along Brickell Key or one of the many sandy beaches—or doing something truly special, like taking an airboat ride through the Everglades or indulging in high tea at The Biltmore Hotel—Miami offers it all.

Luxury Real Estate

Starts from about $2.5 million and can reach up to $100 million and beyond

Most Popular Season Late Fall to mid Spring Neighborhoods to Watch Brickell Key—the new Mandarin Oriental hotel and residences will rise there soon

Favorite Local Dish & Drink

Stone crabs and water— with Miami’s many outside activities, you’ll want to stay hydrated!

Most Instagrammable Location

Anywhere on, or by, the water Bucket List Activity

And then there are the events—Art Basel, Art Miami, The Boat Show, Miami Open, Ultra Music Festival, and more.

Another great thing to do in Miami is just sit by the waterfront and just take it all in.

“Miami is a very special place,” Shuffield said. “Its wonderful diversity is its greatest asset.”

Taking a luxury cruise from Port Miami and people watching—Miami may be the most international place on earth! Insights provided by Ron Shuffield, CEO, Berkshire Hathaway

The new Poconos: an escape to luxury amidst nature

A place where mornings are slow, the scenery is magical year-round, and traffic is almost nonexistent might sound like something New Yorkers can only dream of. But it’s not a dream— it’s the Poconos. And it’s only a little more than a two-hour drive from the bustling streets of Manhattan.

Once known primarily for its signature 1970s-style chalets and honeymooners, the Poconos has evolved into a peaceful refuge for city dwellers. Many ﬁnd solace among the region’s serene lakes, quiet forests, and cascading waterfalls, discovering a slower pace of life that feels worlds away from urban chaos.

“During the pandemic, so many people came to the Poconos from New York and Philadelphia,” said Kim Stevens, Owner, Berkshire Hathaway HomeServices Pocono Real Estate.

“Once they discovered the way of life here, they thought—do we really need to go back to an apartment in the city when I can look over the lake and work from here?”

“Most of our clients who live in the city, they need a place to get away,” Maxwell Stevens, Luxury Collection Specialist, Berkshire Hathaway HomeServices Pocono Real Estate, added. “The Poconos gives them room to breathe, space to think, and a real sense of calm.”

From great escape to a new place to call home

Buyers are also seeking “really interesting” spaces they can use for short term rentals. The more interesting, the better, Maxwell explained, citing a contemporary home looking out to a waterfall that is consistently rented with favorable terms.

The appeal of spending time in the Poconos has grown so much, said Maxwell, it is now known as a primary second home destination—where people spend as much time as they can and return to their city abodes when necessary.

Before the pandemic, the average sale price was $175,000, said Maxwell. Now, that price has doubled. At the very high end of the market, a new luxury waterfront home can command up to $5 million.

As the demand for new homes and evolution of the area continues, older cottages are being replaced with grander properties—replete with ﬂoor-to-ceiling windows to enjoy the views, expansive decks to bask in nature, and plenty of outdoor amenities including pools, kitchens, ﬁre pits, and even showers.

An attainable and idyllic life

But with all the new homes and residents, the nostalgia of the region also draws people back.

“When I was growing up, my parents had a lakefront house here and my grandparents owned several Lakefront Gumble Cottages. We water-skied and enjoyed nature—I just love it.” Kim said. “I wanted to be able to give that to my children.”

Luxury Real Estate

Prices start around $750,000 but can reach around $5 million for direct lake frontage

And life in the Poconos—where days begin with paddleboarding or yoga, and end with sunset cruises on Lake Wallenpaupack, tying boats together for music, laughter, and a ﬂoating social hour—is about where luxury means seclusion amidst beautiful natural surroundings.

“It’s a dream to have a lake house here—and it’s not a pipe dream,” said Maxwell. “It’s very attainable. You don’t need to have millions of dollars to have a beautiful property or enjoy this incredible lifestyle.”

Exploring San Diego’s many coveted neighborhoods

With its mix of unique neighborhoods, living the dream San Diego lifestyle can mean vastly different things depending on who you ask. But one thing is clear: the city’s blend of coastal serenity, mild year-round climate, and diverse cultural experiences is a big draw for buyers seeking a slice of West Coast luxury.

Despite its distinct communities, San Diego is still easy to navigate by car, and new residents are often pleasantly surprised by the strong community ties. “When I ﬁrst moved here, we went to a different place every weekend because it was all so close,” said Nicki Marcellino, Regional Vice President at Berkshire Hathaway HomeServices California Properties in La Jolla.

“Everything is within a 20-minute drive—even up to Encinitas with its fabulous dog park.”

“And even with the city’s size, neighborhoods like La Jolla, North Park and Hillcrest feel tight-knit, fostering a sense of belonging,” she added.

Wayne Woodyard, Regional Vice President for California Properties in Coronado and Downtown, agrees: “People are surprised by Coronado’s tight-knit community and downtown’s strong identity.”

These community vibes are perfectly exempliﬁed by a growing trend in La Jolla, Coronado and beyond. “Many people have bought golf carts for driving around on weekends, visiting restaurants and the farmers market,” said Marcellino. “It’s just a really nice lifestyle because the weather is so consistently beautiful. Even in the rain, you don’t mind being out in it because it’s fun.”

Rising hot spots

For those seeking the next rising neighborhood, there are plenty of options. North Park is attracting young professionals with its “vibrant arts scene, trendy boutiques, and eclectic nightlife”. Chula Vista is booming, thanks to new developments and the opening of the Gaylord Resort & Convention Center. And in Coronado Cays—the only community between Mexico and Newport Beach with private yacht docking—boating enthusiasts are taking notice.

“Coronado Cays has turned into a different animal because of the ability to park your yacht there,” Woodyard said. “As Coronado’s real estate market has exploded, people are looking at the Cays to get a little bit more for their money.”

Buyers are also turning their attention northward to smaller, upscale enclaves like Rancho Santa Fe and Del Mar. “For high-end clients, Rancho Santa Fe offers privacy and space, while Del Mar delivers that quintessential coastal lifestyle,” said Paul Benec, Branch Manager of the Del Mar office.

A city that continues to surprise

The city’s geographical diversity is often not known to visitors. “There is so much more to San Diego outside of downtown,” said Brent Consedine, President of Berkshire Hathaway HomeServices California Properties. “You need to get out to La Jolla, Mount Soledad and the Old Town in Poway.”

Luxury Real Estate

From $3 million to over $20 million

Berkshire Hathaway HomeServices 2025 Dream Destinations Report

The Las Vegas revival continues at full speed

From excitement to serenity

Los Cabos—from getaway to global investment hub

Calling Los Cabos home

Laidback style deﬁnes home and life

Luxury Real Estate

Modern Madrid: an evolving hotspot

Miami’s magic— high-end living in a high-rise haven

Living the high life

The new Poconos: an escape to luxury amidst nature

An attainable and idyllic life

Exploring San Diego’s many coveted neighborhoods

A city that continues to surprise