6 Luxury Real Estate Markets Where the Ultra-Rich Are Buying in 2025
Written by
Josephine Nesbit
Edited by
Zuri Anderson
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While financial markets react to global instability, high-net-worth buyers have turned to real estate. In cities like Aspen, New York and Miami, luxury properties are moving quickly at eight-figure price points.
Entrepreneur Dan Herbatschek told the Wall Street Journal that between March and May, he signed contracts to buy four Manhattan condos despite economic turmoil provoked by global tariffs. And he isn’t the only one. According to WSJ, more affluent buyers are investing in ultra-luxury real estate despite uncertainty.
Here are the six real estate markets where the ultra-wealthy are making major moves this year, along with why these buyers are turning to real estate now and whether it’s a smart financial strategy.
The Top Markets the Rich Are Flocking To
According to data compiled by Miller Samuel, Aspen Snowmass Sotheby’s International Realty, the Corcoran Group and Westside Estate Agency and reported by the Wall Street Journal, high-end real estate markets saw a notable increase in $10 million-plus sales between Feb. 1 and May 1, 2025.
Here are the top markets the ultra-rich are buying right now.
Manhattan
- Homes sold in 2024:124
- Homes sold in 2025: 150
- Percent change: 21%
Miami-Dade County
- Homes sold in 2024:33
- Homes sold in 2025: 49
- Percent change: 48%
Los Angeles County
- Homes sold in 2024:124
- Homes sold in 2025: 160
- Percent change: 29%
Aspen
- Homes sold in 2024:16
- Homes sold in 2025: 23
- Percent change: 44%
Palm Beach
- Homes sold in 2024:12
- Homes sold in 2025: 18
- Percent change: 50%
Beverly Hills
- Homes sold in 2024:12
- Homes sold in 2025: 16
- Percent change: 33%
Why the Ultra-Wealthy Are Buying Now
“When markets feel unstable, the rich don’t park their money, they move it, often into properties in legacy markets like Aspen, Miami and NYC,” Jessica Robinson, real estate professional and co-owner at estate planning services company Family Nest North Central Florida, wrote in an email.
“The ultra-wealthy are leaning into luxury real estate right now because they see it as one of the few hard assets that still offers both security and long-term upside in a shaky economy.”
According to Robinson, luxury real estate isn’t as volatile as the stock market.
“It gives them something tangible they can leverage, rent or pass down,” she explained. “I’ve worked with buyers who aren’t just looking for a home, they’re looking for an asset that holds value even when the dollar doesn’t.”
Eli Pasternak, a licensed Florida real estate agent, experienced investor and founder of Liberty House Buying Group, sees it as more of a panic buy.
“At Liberty House Buying Group, I am seeing billionaires who got spooked by the banking collapses last spring and do not trust anything except physical assets they can touch,” Pasternak commented. “My client Neerja moved $18 million out of regional banks after Silicon Valley Bank collapsed, and she immediately bought three luxury condos in Miami because she thought that digital wealth a bit too risky.”
Smart Financial Strategy or Risky Bet?
There are upsides and downsides to this strategy.
“The benefits seem obvious, however, and these buyers know luxury real estate in prime locations never really crashes like regular housing does,” Pasternak explained.
Robinson also sees it as a smart financial move.
“If you’re playing at that level, buying high-end property right now is less about speculation and more about preservation,” she wrote.
The downside is that many of these buyers are overpaying by around $2 to $3 million just to feel secure, Pasternak pointed out.
“I tell my clients that emotional buying usually costs more than smart investing, but they do have enough money to absorb the premium,” he added.
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