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    20 Years of Helping You Live Richer

    While global instability affects financial markets, high-net-worth individuals are turning to real estate. Luxury properties in cities like Aspen, New York, and Miami are selling quickly at eight-figure prices.

    Entrepreneur Dan Herbatschek told the Wall Street Journal that he signed contracts for four Manhattan condos between March and May, despite economic turmoil caused by global tariffs. He's not alone; affluent buyers are investing in ultra-luxury real estate despite uncertainty.

    Here are six markets where the ultra-wealthy are making significant moves this year, along with why they're turning to real estate now and whether it's a smart financial strategy.

    The Top Markets for Ultra-Rich Buyers

    According to data from Miller Samuel, Aspen Snowmass Sotheby's International Realty, and The Corcoran Group, high-end real estate markets saw a notable increase in $10 million-plus sales between February 1 and May 1. Here are the top markets:

    Manhattan: Homes sold increased by 21% (124 to 150)

    Miami-Dade County: Homes sold increased by 48% (33 to 49)

    Los Angeles County: Homes sold increased by 29% (124 to 160)

    Aspen: Homes sold increased by 44% (16 to 23)

    Palm Beach: Homes sold increased by 50% (12 to 18)

    Beverly Hills: Homes sold increased by 33% (12 to 16)

    Why the Ultra-Wealthy Are Buying Now

    Real estate professional Jessica Robinson notes that when markets feel unstable, the rich don't park their money; they invest in properties in legacy markets like Aspen, Miami, and NYC. Luxury real estate offers security and long-term upside in a shaky economy.

    Robinson explains that luxury real estate is less volatile than the stock market, providing something tangible to leverage or pass down. Eli Pasternak, a licensed Florida real estate agent, sees it as more of a panic buy, with billionaires moving money into physical assets due to banking collapses and distrust of digital wealth.

    Smart Financial Strategy or Risky Bet?

    There are pros and cons to this strategy. While luxury real estate in prime locations rarely crashes like regular housing does, buyers may overpay by $2 to $3 million just to feel secure.