{"id":411064,"date":"2026-09-26T05:52:34","date_gmt":"2026-09-26T05:52:34","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/411064\/"},"modified":"2026-09-26T05:52:34","modified_gmt":"2026-09-26T05:52:34","slug":"south-florida-top-brokers-on-miamis-luxury-housing-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/411064\/","title":{"rendered":"South Florida Top Brokers on Miami\u2019s Luxury Housing Market"},"content":{"rendered":"

South Florida\u2019s wealthiest buyers have plenty of money. The problem is finding something to spend it on.\u00a0<\/p>\n

The luxury residential market is being squeezed by a shortage of homes, with affluent buyers increasingly willing to pay premium prices<\/a>, assemble adjacent properties and go off-market to find what they want.\u00a0<\/p>\n

\"TheThe Real Deal\u2019s Amir Korangy and Artefacto CEO Paulo Bacchi (World Red Eye)<\/p>\n

Meanwhile, South Florida\u2019s broader market struggles with older inventory, top brokers said Thursday at The Real Deal\u2019s \u201cStaged to Sell, Welcome to the New Miami\u201d event hosted by Artefacto<\/a>.\u00a0<\/p>\n

Four of South Florida\u2019s top-producing brokers \u2014 Julian Johnston<\/a> of ONE Sotheby\u2019s International Realty, Nelson Gonzalez<\/a> of Berkshire Hathaway HomeServices EWM Realty, Dora Puig<\/a> of Luxe Living Realty and David Siddons of David Siddons Group \u2014 sat down with TRD\u2019s Hannah Kramer<\/a> in Artefacto\u2019s Coral Gables showroom to discuss what\u2019s driving the luxury market and where it\u2019s headed next.\u00a0<\/p>\n

\"ONEONE | Sotheby\u2019s International Realty Broker Associate Julian Johnston and David Siddons Group CEO and Founder David Siddons (World Red Eye)The $30 million problem<\/p>\n

Ask South Florida\u2019s top brokers what the biggest challenge in the residential market is, and they\u2019ll tell you the same thing: inventory.\u00a0<\/p>\n

Much of the region\u2019s prime real estate has been gobbled up, driving up the value of the land that\u2019s left. Buyers who expect to get an ultra-luxury turnkey home for $30 million face sticker shock when they see the reality.\u00a0<\/p>\n

\"The(World Red Eye)<\/p>\n

\u201cYou get something cute for $30 million that you will probably knock down,\u201d Puig said. \u201cAt $10 million you\u2019re buying land. Once you pass $50 million, you go off-market and start finding opportunities.\u201d<\/p>\n

But the inventory crunch presents challenges even when buyers go off-market. Sellers keep backing out of deals because they have nowhere to move to, Siddons said.\u00a0<\/p>\n

The answer is often raising the budget.\u00a0<\/p>\n

\u201cIt\u2019s an affluent buyer. If you can afford 30, you can probably buy 40 or 50,\u201d Puig said.\u00a0<\/p>\n

Landmaxxing<\/p>\n

For the uber-rich, one property isn\u2019t enough. Buyers are snapping up adjacent properties to form sprawling private compounds in a landmaxxing<\/a> frenzy that\u2019s been a defining characteristic of Florida\u2019s ultra-luxury market this year.\u00a0<\/p>\n

Jeff Bezos, Citadel CEO Ken Griffin, WeatherTech CEO David MacNeil and Oracle chairman Larry Ellison have all taken part in the trend, buying out their neighbors<\/a> for additional waterfrontage and more amenities.<\/p>\n

\"The(World Red Eye)<\/p>\n

Other buyers snag properties across the street, a trend that Gonzalez said \u201cmakes total sense.\u201d Instead of dropping eight digits on another waterfront property, they can get the much-cheaper house across the street for a padel court and guest house.\u00a0\u00a0<\/p>\n

\u201cIt helps them expand their property without going crazy with the neighbor on the water,\u201d Gonzalez said.\u00a0<\/p>\n

Johnston said the trend took off last year, when the market started to move following a slow period. As inventory disappeared, buyers began to act, sometimes buying up multiple properties at a time.\u00a0<\/p>\n

\"TheThe Real Deal\u2019s Amir Korangy and Artefacto CEO Paulo Bacchi (World Red Eye)<\/p>\n

The big deals hitting the market aren\u2019t necessarily vanity purchases, Johnston said.\u00a0<\/p>\n

Buyers are making strategic moves as wealthy newcomers flock to South Florida from places like California and New York, where a proposed billionaire tax<\/a> and a pied-\u00e0-terre tax have run them off. Florida\u2019s lifestyle and business-friendly climate have attracted those buyers, Johntson said.\u00a0<\/p>\n

The wealth gap<\/p>\n

Miami\u2019s ultra-luxury boom is masking weakness elsewhere in the market.\u00a0<\/p>\n

Home sales<\/a> continued to shrink last month, marking 10 consecutive months of year-over-year declines, according to Homes.com. Miami has 138 percent more sellers than buyers, the second highest in the nation, Redfin said.\u00a0<\/p>\n

Puig said condos below $10 million are responsible for the drop. Rising insurance, certification costs and special assessments are weighing on investor demand, while the strongest activity is concentrated in small pockets at the top of the market.\u00a0<\/p>\n

\"ONEONE | Sotheby\u2019s International Realty Broker Associate Julian Johnston, Luxe Living Realty Founder & Principal Broker Dora Puig, David Siddons Group CEO and Founder David Siddons, The Real Deal\u2019s Hannah Kramer, Berkshire Hathaway HomeServices EWM Realty Senior Vice President Nelson Gonzalez and Artefacto CEO Paulo Bacchi (World Red Eye)<\/p>\n

Law changes<\/a> have made buildings harder to finance, meaning the product that\u2019s staying on the market is undesirable, Siddons said.\u00a0<\/p>\n

\u201cIt\u2019s like a car park, and half the cars are so old that they\u2019re just ready for the scrapyard, and nobody wants to drive them,\u201d he said.\u00a0<\/p>\n

Middle-tier products that still have some life left are targeted at the investor class, which hasn\u2019t been as prolific a buyer as it was a decade ago, he said. Those properties, along with older buildings, are being replaced as owners are pressured to sell, particularly when they\u2019re sitting on prime land. The developers who buy that land are left with little choice but to build ultra-luxury, where the profit margin is much greater.<\/p>\n

The next Miami<\/p>\n

The stars behind some of South Florida\u2019s biggest residential sales said they\u2019re confident the luxury market will continue to thrive.\u00a0<\/p>\n

\u201cI think there\u2019s going to be a further flight of capital out of London and California,\u201d Johnston said. \u201cThe inventory problem is not going to change. Prices are going to continue to rise. It\u2019s supply and demand.\u201d<\/p>\n

\"ArtefactoArtefacto CEO Paulo Bacchi, ONE | Sotheby\u2019s International Realty Broker Associate Julian Johnston, Luxe Living Realty Founder & Principal Broker Dora Puig, David Siddons Group CEO and Founder David Siddons, Berkshire Hathaway HomeServices EWM Realty Senior Vice President Nelson Gonzalez, The Real Deal\u2019s Hannah Kramer and Pietro Bacchi (World Red Eye)<\/p>\n

As wealthy executives move their families and their companies to the region, products across the market will continue to be absorbed, the brokers said. The demand for condos is there, especially as the single-family-home shortage persists and shifting demographics within the city produce varied demands.\u00a0<\/p>\n

The only thing missing is transportation, Johnston said. But the rise of helipads<\/a> could fix the traffic problem for some.<\/p>\n

\u201cWe are hashtag-blessed to all be brokers in this town,\u201d Puig said. \u201cI\u2019m so bullish on the city. Miami, on a macro level, has finally grown up from this little beach town.\u201d<\/p>\n

\tRead more
\n\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\"Citadel\u2019s\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Luxury \u201clandmaxxing\u201d: The billionaire push for private compounds<\/p>\n

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\n\t\t\t\t\t\t\t\t\tResidential\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

Luxury buying is booming, South Florida\u2019s top homebuilders say. Mid-market housing, not so much<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Lionel\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tResidential\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

Landmaxxing? Messi-linked entity buys Fort Lauderdale mansion next door<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"South Florida\u2019s wealthiest buyers have plenty of money. The problem is finding something to spend it on.\u00a0 The…\n","protected":false},"author":2,"featured_media":411065,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226,163048],"class_list":["post-411064","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news","tag-top-brokers-miami-luxury"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/411064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=411064"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/411064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/411065"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=411064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=411064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=411064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}