Florida’s real estate market is one of the best in the United States. The weather there is quite sunny and warm throughout the year. Plus, the beautiful coastline will make anyone fall in love with the state.
The latest report by One Sotheby’s International Reality suggests that home prices have reached an all-time high in the region. In fact, people are already purchasing condos and homes far above their list price.
So, if you have plans to purchase a Florida vacation home, consider these ideal locations.
Miami Beach boasts incredible restaurants, shops, nightlife, and entertainment spots in South Florida. This destination is the ultimate vacation spot. In the locations such as Monaco Yacht Club, Ten30 South Beach, and 57 Ocean Miami Beach, people are investing in new constructions. Considering the increasing number of visitors, you can also rent out your new Miami Beach property for high profit.
Palm Beach has a glamorous and exclusive lifestyle appeal, especially for people who love to enjoy pristine beaches and world-class shopping. The location’s sophisticated and serene environment makes it a distinctive destination in the real estate market. Furthermore, since the country’s wealthiest individuals purchase vacation properties here, the market is extremely hot. Comparing the first quarter of 2020 with 2021, the sales significantly increased from $398 million to $1.2 billion.
People refer to this perfect vacation spot as the boating capital of South Florida. So, if you enjoy boating trips, this is an ideal location to buy a vacation property. This city contains seven miles of sun-drenched beaches. The average sale prices for a single-family home increased by a whopping 60 percent from last year.
This is the oldest city in the country and is ideal for history buffs who love to explore. Besides architectural masterpieces from the Gilded Age, beautiful beaches, eclectic stores, and charming cobblestone streets are a few of the things this city has to offer. This city is more affordable and it’s real estate market is one of the fastest-growing in Florida. However, the market is very competitive with some homes being snatched up within a day or two. It would be fair to say that this would be a good location for your next real estate investment.
Located north of Fort Lauderdale, this destination has a luxurious real estate market. Previously, this was a sleepy beach town but now it’s quickly becoming a hot vacation spot. New developments here offer residents a clear and unobstructed ocean view at a cheaper price than Miami and Fort Lauderdale. This makes Pompano Beach a perfect place for long-term investment.