Miami's ultra-luxury housing market booms as cash transactions dominate, high-end brands like Bugatti and Porsche jump in

Miami’s ultra-luxury home market is staying resilient even as the broader housing cycle cools, UBS reports, with cash buyers a key driver. In the first eight months of 2026, Miami-Dade County recorded 194 home sales of $10 million or more, 14.1% above the 170 transactions logged for all of last year, according to the Miami Association of Realtors. At the current pace, sales could reach about 291 by year-end, beating the prior annual record of 230 set in 2021. The association says cash dominates: about 82% of Miami condo sales of $1 million-plus were all-cash in 2025. UBS links this cash share to lower sensitivity to higher borrowing costs and reduced bubble risk, and also cites migration demand. Inflation-adjusted home prices fell 1.6% year over year, but luxury momentum has extended beyond sales, with Bugatti unveiling plans for its first U.S. branded residence on Brickell waterfront, joining brands such as Porsche, Aston Martin, Bentley, and Mercedes-Benz.