Spotlight On: Benjamin Watson, Vice President, Douglas Elliman Development Marketing

Key points:

• • Houston’s luxury residential market is attracting global buyers seeking branded, service-focused living.
• • Douglas Elliman helps shape projects from the earliest planning stages to align with buyer demand.
• • The firm sees continued opportunities as Houston strengthens its position as a global real estate market.

June 2026 — In an interview with Invest:, Benjamin Watson, vice president of Douglas Elliman Development Marketing, discussed the forces reshaping Houston’s luxury residential market, from the arrival of global hospitality brands to the evolving profile of ultra-high-net-worth buyers choosing the city as their primary base. “Our last penthouse at St. Regis is now priced at $3,100 per square foot, unprecedented for Houston, and it demonstrates that when you build the right product, the market responds,” Watson said.

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How would you describe the Houston luxury residential market today, and what trends are shaping demand at the top end?

Houston is in a remarkable moment. Every major branded residential flag is looking to enter the Texas market. In Houston, you currently have the St. Regis, a standalone project with incredible views and 40,000 square feet of amenities, and the new Ritz-Carlton on Post Oak, which will include a hotel component. Both models offer distinct advantages to buyers. Some buyers gravitate toward the energy of a hotel — the food and beverage, the spa services — while others prefer the exclusivity of a standalone building where every amenity is reserved solely for owners. Buyers are actively considering all of these options, which speaks to the depth and sophistication of demand at the top end of the market.

The upper end of the market is typically less impacted by broader economic events than other segments. Houston is a consistent, stable market, without the dramatic highs and lows you see elsewhere. Price stability is something buyers here appreciate and expect.

Branded residential commands two to three times the price per square foot of a traditional condominium, but these projects are introducing a level of service, design, and execution that hasn’t existed here before, including architectural and interior talent at the highest level, along with a design standard enforced by the hospitality brand itself. Our last penthouse at St. Regis is now priced at over $3,100 per square foot, unprecedented for Houston, and it demonstrates that when you build the right product, the market responds.

Who is the buyer for these branded residential developments, and what is driving their purchasing decisions?

Our buyers are sophisticated and global. In Houston, many maintain their primary residence in Texas, often for tax considerations, and typically own homes in River Oaks, Memorial, or Tanglewood. They may also have a farm or ranch, a home in Montana or Colorado, or residences in New York, Paris, or London. They are accustomed to five-star hospitality and want to replicate that experience at home through a lock-and-leave lifestyle. Increasingly, they are moving away from managing large estates and toward residences, typically 3,000 to 4,000 square feet, that deliver the quality they expect without the burden of maintenance.

A significant portion of purchasers and buyers are already in the Houston market and are often transitioning into a new phase of life. Houston also draws a significant number of wealthy buyers from Mexico, particularly Monterrey, Guadalajara, and Mexico City. We recently brought the St. Regis brand to Mexico City, hosting an event at the St. Regis Hotel that generated strong attendance from brokers and prospective buyers, with several transactions resulting directly from that outreach. We are also seeing interest from the Middle East and parts of Africa, often tied to Houston’s deep connections to oil and gas.

Wellness is a defining theme across all of our developments. St. Regis offers a private spa for owners, treatment rooms, a fitness facility, cold plunge, sauna, steam, a resort-style pool, and an indoor thermal pool. Buyers are thinking long term, focusing on aging well and remaining in place comfortably. We have also introduced auxiliary units within some buildings, residences that can be purchased for a live-in health aide, an au pair, or household staff, because that’s part of how our buyers think about long-term planning. These decisions are driven by direct feedback, including focus groups, agent insights, and years of observing how this clientele lives and what they value.

How does Douglas Elliman Development Marketing differentiate itself, and how early do you engage in the development process?

As early as possible, often before land is even purchased. Branded residential partners and developers regularly ask us whether to move forward on a site, whether a specific developer is the right fit, and whether the numbers support the project. Our perspective is rooted in understanding what resonates with buyers. From there, we evaluate sites, help conceptualize buildings, facilitate introductions between developers and hospitality brands, and shape the product from the ground up.

Douglas Elliman Development Marketing operates as a distinct division from Douglas Elliman, the brokerage. While we earn the same commission as a traditional brokerage at the point of sale, clients benefit from a fully integrated platform, including in-house research, planning and design, marketing, and operations, all within that same fee structure. We also have dedicated architectural expertise focused on Texas and the broader western region. Understanding buyers and establishing the right unit mix, pricing strategy, and brand partnership from the outset is critical. Getting in early allows us to shape the narrative proactively rather than respond to challenges later.

Houston is often described as a global city. What makes it compelling for this caliber of real estate investment?

When people think of global cities, they often default to New York, Miami, or Los Angeles, but Houston absolutely belongs in that conversation. It is a major energy hub and a leading port, with deep ties to global oil and natural gas markets. The Texas Medical Center is world-renowned, with some of the best doctors and healthcare services anywhere. Houston has one of the largest art collections in the country outside of New York, and a remarkable cultural scene that includes ballet and opera. These are not secondary attributes; they are fundamental to what defines a global city.

The condominium market reflects that. Buyers with international portfolios and a preference for five-star living are choosing Houston as their primary base, and the product being delivered today is meeting those expectations. That convergence of global capital, sophisticated demand, and increasingly world-class product is what makes this moment in Houston so significant.

What are the company’s top priorities and greatest opportunities over the next two to three years?

The priority is to keep delivering best-in-class service — to developers who trust us with their projects and to the buyers we represent. We aim to keep setting new benchmarks and establishing markets where they do not yet exist. Beyond Texas, we have recently been awarded our first five-star branded residential project in Colorado, driven by our reputation for helping developers envision what a project can become, particularly those newer to condominium space. That reputation preceded us.

The broader opportunity is substantial. There is significant wealth in markets across the United States where condominium living is not yet an established asset class. Our role is to enter those markets, understand the depth of demand, shape the product correctly, and ultimately prove the thesis. What makes this work especially rewarding is the collaboration, bringing together developers, hospitality brands, architects, and financial partners around a shared vision. Contributing ideas that elevate the entire project is where we create lasting value, not only for our clients, but for the communities these developments become part of.

Want more? Read the Invest: Houston report.