L
uxury real estate in Washington D.C. is experiencing a surge, with high-net-worth individuals and tech moguls snapping up multimillion-dollar properties near the White House. Dubbed the "Trump bump," this phenomenon has seen Robert F Kennedy Jr and Mark Zuckerberg join the ranks of wealthy buyers flocking to the nation's capital.
The north-west region of D.C., known for its embassy row and parkland, is the epicenter of this luxury property boom. Here, ultra-wealthy individuals are buying up homes in a show of allegiance to Donald Trump. Tom Daley, co-owner of Keller Williams, notes that these buyers are sending a clear message: "We're here, we're serious, and we have skin in the game."
Sales of luxury properties in D.C. skyrocketed towards the end of last year, with 20 homes selling for over $5 million in November and December alone. This is up from just 10 sales in the same period the previous year. Ben Roth of Washington Fine Properties attributes this surge to the city's growing appeal as a hub for high-net-worth individuals who want to be close to the administration.
Mark Zuckerberg, for instance, has purchased a massive mansion in Massachusetts Avenue Heights, complete with bulletproof glass and a price tag of $23 million – the third most expensive property ever sold in D.C. Scott Bessent, another key figure behind Trump's tariffs policies, has bought a French château-style house in the Foxhall neighborhood for $25 million.
The area's classical architecture and prestigious private schools are also drawing in high-end buyers. Robert F Kennedy Jr, who has been spotted working out at West End Equinox, recently purchased a 4,800 sq ft home in Georgetown for $4.4 million. Meanwhile, Zuckerberg's mansion is said to be a "private embassy" due to its immense proportions.
Despite the boom in luxury sales, many high-end buyers are opting for turn-key rentals rather than making long-term commitments. Nickie Jordan, an international real estate broker, notes that this uncertainty is driven by concerns about how long they may end up staying in favor with the administration. "Most people are interested in high-net-worth rentals currently because everybody's a little apprehensive about making a long-term commitment," she says.
The influx of wealthy Republicans into D.C.'s north-west region has echoes of the Georgetown set, a term for the Left-leaning newspaper barons and politicians who hosted soirees in the area during the second half of last century. However, this time around, it's the ultra-wealthy Maga faithful who are making their mark on the city.
As Trump pledges to renew Washington D.C., signing an executive order to rescue the city from violent crime, experts warn that cuts to the federal workforce and market turmoil caused by tariffs could play havoc with DC businesses and the broader housing market. For now, however, the luxury real estate boom shows no signs of slowing down.
