Skip to content

Real Estate

The Super-Rich Bought More Than $40 Billion in Luxury Homes Last Year

Transactions on homes priced at $10 million or higher jumped 112% in 2021. Los Angeles had the most, followed by Manhattan and Palm Beach.

Video player cover image — The Risks of Inflation on New York City Real Estate

By

Claire Ballentine

February 9, 2022, 4:53 PM UTC

The rich, who got even richer in the pandemic era, are unceasingly deploying their wealth into luxury homes.

More than $40 billion worth of residential real estate valued at $10 million or higher changed hands in 2021, according to a report from real estate brokerage Compass Inc. That’s more than double the amount in 2020.