Miami’s ultra-luxury property market is experiencing a significant boom, with buyers increasingly opting for cash transactions and luxury brands such as Bugatti entering the residential development space [1]. Miami-Dade County recorded 194 home sales of $10 million or more in the first eight months of 2026, marking a 14.1% increase over the 170 transactions for all of 2025, according to the Miami Association of Realtors [1]. At the current pace, sales are projected to reach approximately 291 by year-end, surpassing the previous annual record of 230 set in 2021 during the pandemic-driven surge [1].
The Miami Association of Realtors reports that Miami leads the U.S. in cash buyers, with about 82% of condo sales valued at $1 million or more in 2025 being all-cash transactions [1]. UBS highlighted Miami's high share of cash transactions as a key factor in the resilience of its luxury segment, making it less sensitive to elevated financing costs [1]. This has contributed to a reduction in bubble risk, with Miami dropping from the highest bubble risk in last year's UBS index to an "elevated" risk this year [1]. UBS also cited continued demand from buyers relocating from higher-cost and higher-tax U.S. states as supporting Miami housing values, stating that a broad-based price correction appears unlikely in the near term [1].
Despite the strength at the top end, inflation-adjusted home prices in Miami fell 1.6% year over year, reflecting the impact of elevated borrowing costs and worsening affordability on demand in non-luxury areas [1]. The luxury market's momentum is further evidenced by Bugatti's recent announcement of its first branded residential development in the U.S., located on Miami's Brickell waterfront [1]. Other high-end car brands, including Porsche, Aston Martin, Bentley, and Mercedes-Benz, have also launched branded residences in the area [1]. Jay Roberts, CEO of Prosper Group, developer of Bugatti Residences Miami, described the city as the "global epicenter for wealth migration" [1].
CONCLUSION
Miami's ultra-luxury housing market is breaking records, fueled by cash buyers and the entry of luxury brands into residential development. While the broader market faces affordability challenges, the top end remains resilient, with analysts suggesting a price correction is unlikely in the near term. The influx of branded residences underscores Miami's status as a magnet for wealthy buyers.