"We're seeing more clients approach us early and ask to be considered for future builds, sometimes before a project is even designed. Because there's a limited number of builders doing this level of work, buyers are willing to wait to get the right house."
"Ultrawealthy buyers are now securing spots on private waitlists months-or even years-before a home breaks ground. This is happening particularly in the custom luxury space where buyers are heavily focused on quality and craftsmanship."
"The region, often dubbed 'Wall Street South' for its influx of hedge funds and finance executives, has seen luxury home prices soar 187% over the past decade, more than any other major metro, according to Redfin."
The ultra-wealthy are reshaping luxury real estate by joining private developer waitlists before homes are even designed, securing purchases years in advance. This subscription-economy approach is particularly prevalent in custom luxury markets where quality and craftsmanship are priorities. Palm Beach has emerged as a major hub for this trend, attracting billionaires and finance executives, with luxury home prices rising 187% over the past decade. Limited availability of elite builders creates competition among ultra-wealthy buyers willing to wait for the right property. This contrasts sharply with past practices when wealthy buyers had more flexibility to tour homes and negotiate directly with agents.
#luxury-real-estate #ultra-wealthy-buyers #private-waitlists #palm-beach-market #subscription-economy
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