In South Florida, fancy homes are selling for a lot of money, between $10.2 million and $14 million. These big sales show that many kinds of rich people want to live here, from those who work in real estate to those in construction and even the drinks business.
The high prices prove that waterfront houses and gated communities are trendy. For example, a house in Coral Gables sold for $10.2 million, and another in Fort Lauderdale went for $10.3 million. These sales show how lively the market is.
Let’s take a closer look at some of these deals. The house in Coral Gables, owned by Suzanna and Jose “Pepe” Cancio, was fixed up nicely and listed for $12 million.
The one in Fort Lauderdale, owned by Joseph Fallon, was rebuilt and listed for $14 million. Both homes got a lot of attention.
In Boca Raton, Jeffrey Norman sold a property for $13.5 million, and Leonard Korman sold his Jupiter estate for $14 million. These deals also show how valuable properties are here.
These sales reflect a bigger trend in luxury real estate. Rich people are still looking for fancy homes in great locations. This is happening not just in South Florida, but also in places like Palm Beach and Miami Beach.
In Palm Beach, a mansion without waterfront views sold for $43.7 million; in Miami Beach, a spec home by the water sold for $23.9 million. Both local and foreign buyers are interested in these luxury properties, showing that the market is strong despite any financial worries.
The luxury real estate market in South Florida is like a small version of the global luxury market. It’s strong and attracts all kinds of rich people, from those in real estate to those in construction and drinks.
International buyers, especially from Europe, are also interested in having a place here for part of the year, as shown by sales in Palm Beach and Miami Beach.
