Deep-pocketed buyers kept the luxury sector chugging along last year, as the overall market struggled under the weight of inflation and high mortgage rates
A Tadao Ando-designed mansion in Malibu, Calif., that sold for $190 million was the priciest deal of 2023.
Beyoncé, Jay-Z and Jeff Bezos purchased some of the country’s most expensive homes in 2023—a year in which wealthy buyers flush with cash notched big-ticket deals, even as high mortgage rates put a damper on the overall housing market.
At least five deals closed for $100 million or more in 2023, down from seven in 2022, according to data from real-estate appraisal firm Miller Samuel and The Wall Street Journal’s reporting. There were at least 33 deals across the U.S. that closed for $50 million or more, down from 44 in 2022, but still more than the 24 deals above $50 million in 2019, according to Miller Samuel.
