So you build a Miami Luxury home in the Gables or Grove for: 1  Average Land Price: $52 (Example of Coral Gables). 2  Average Construction price (high end Miami Home) $250. 3  Total Costs $300 per Sq.Ft.his home is currently for sale for $18,000,000. That is $1,157 per Sq.Ft for this 15,558 Sq Ft home with 11 bedrooms and a pool. Building your Own Miami Luxury Home – This Miami Beach Home on the prestigious North Bay Road is built in 2014 and listed for $37,000,000.