Hedge fund Citadel’s relocation here is driving a supply shortage in Miami-area luxury homes, the FT is reporting.
Citadel is said to be relocating hundreds of employees to Miami by offering large relocation benefits.
The company said in statement that “employees have been enthusiastic about the headquarters’ move to Miami and appreciate the vibrant energy and quality of life the city has to offer.”
Inventory of luxury homes in the $5M to $7M range are said to be down by half compared to last year in places such as Coral Gables.
