The 7 Best Places to Buy a Florida Vacation Home

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With 1,350 miles of beautiful coastline and sunny weather most of the year, it’s no surprise that Florida’s real estate market is among the top performing in the country. And with many people still working remotely due to COVID-19, the Sunshine State is proving to be a particularly attractive place to own a vacation home.

“I would describe the Florida real estate market right now as hot, as is our climate,” said Dina Goldentayer, executive director of sales at Douglas Elliman in Florida. “There are very few stocks and very high demand. “

Goldentayer explained that while this doesn’t necessarily translate into bidding wars, potential buyers should be prepared to “move quickly and not think that something is still on the market when they come back to town for a few months. later”.

According to the latest Florida East Coast Market Report by One Sotheby’s International Realty, median single-family home prices in the area have reached an all-time high. Almost a third of all sales (homes and condos) now sell for above the listing price.

Most Florida vacation home buyers look for properties in luxury apartment buildings with plenty of upscale amenities, close to restaurants and sporting events.

“And ocean views,” Goldentayer added. “You can never get tired of looking at them.”

So, if you are planning to invest in a Florida vacation home, here are the best Florida towns, cities, and destinations to target.

Miami Beach

Empty Ocean Drive in the morning, South Beach, Miami, USA

Alexandre Spatari / Getty Images

As South Florida’s most international destination and home to some of the best restaurants, beaches, shopping, and entertainment options in the country, Miami Beach is the ultimate vacation spot. And the city’s real estate market fully reflects this. New construction is booming in the area with developments such as 57 Ocean Miami Beach, Ten30 South Beach, Monaco Yacht Club & Residences and Monad Terrace making their debut this year. And given that the area is attracting unprecedented numbers of visitors, it’s safe to say that even if you don’t spend a lot of time at your new Miami Beach property, it will also have a lot of rental potential.

palm beach

Palm Beach Harbor, Florida, United States

Palm Beach Harbor, Florida, United States

Roberto Machado Noa / Getty Images

Palm Beach’s exclusive and glamorous lifestyle appeals to shoppers who wish to enjoy its world-class shopping and pristine beaches in a serene and sophisticated environment. The city’s real estate market, where many of the nation’s wealthiest people own vacation property, is extremely hot right now.

Earlier this year, sales of all housing types in Palm Beach were on the rise, setting an all-time record, Palm Beach Daily News reported. It was not until the first quarter of 2021 that sales exceeded $ 1.2 billion, compared to $ 398 million for the same period last year. And in one case, a new bespoke compound sold for $ 26.16 million in January to be re-listed a month later for $ 45 million (yes, it sold out pretty quickly).

Fort Lauderdale

Fort Lauderdale Intracoastal

Fort Lauderdale Intracoastal

THEPALMER / Getty Images

Known as the boating capital of South Florida, Fort Lauderdale is the perfect vacation spot for those who like to enjoy daily sailing trips. The city’s many canals, sun-drenched beaches (including eleven kilometers!) And bustling arts scene are the reason so many people look for vacation properties here. In July, the average Fort Lauderdale selling price for a single-family home jumped 60% from July 2020, so be prepared to pay more than list price if you want to call Fort Lauderdale your permanent vacation spot.

St. Augustine

Palm trees and historic houses in the old town of Saint-Augustin

Palm trees and historic houses in the old town of Saint-Augustin

Cyndi Monaghan / Getty Images

History buffs will love exploring what the country’s oldest town has to offer. Between its many architectural masterpieces from the Golden Age, stunning beaches, charming cobbled streets and eclectic shops, one thing is certain: boredom is never an option here.

While the city is more affordable, the real estate market is still very competitive with some properties being pulled from the market within 24 hours. St. Augustine actually has one of the fastest growing markets in Florida, so if you are considering this city, your investment is certainly likely to pay off.

Pompano Beach

Hillsboro Lighthouse, Pompano Beach, Florida

Hillsboro Lighthouse, Pompano Beach, Florida

drnadig / Getty Images

Nestled just north of Fort Lauderdale and south of Hillsboro Beach, this sleepy former seaside town is now a promising destination in South Florida’s luxury real estate market. With a new generation of developments such as the Solemar waterfront, offering residences with stunning ocean views at a much lower rate than those in Miami or Fort Lauderdale, Pompano Beach is a great long-term investment. The city recently spent millions of dollars to rehabilitate its waterfront, adding a new fishing pier and a 663-space parking lot. And by 2025, Pompano Beach’s new downtown “innovation district” will be a reality, bringing a vibrant and pedestrian-friendly mixed-use urban downtown core.

Tampa

Waterfront Residences on Hillsborough Bay in Tampa, Florida

Waterfront Residences on Hillsborough Bay in Tampa, Florida

John Coletti / Getty Images

Let’s get one thing clear: Tampa was popular long before Tom Brady joined the Tampa Bay Buccaneers. With its many theme parks, waterfront entertainment, delicious food, and diverse cultural scene, the city has long been a favorite vacation spot for families. Tampa is actually ranked among the 10 fastest growing US cities. Currently, the Tampa Bay area is adding $ 13 billion in new developments and improvements. Major projects include The Related Group’s very first collaboration to launch The Ritz-Carlton Residences, The Residences at the Tampa EDITION and a $ 400 million renovation of the Westshore Marina District which includes plans for several new condominiums, homes in row and restaurants.

Naples

The sun sets over the Naples Pier in the Gulf of Mexico

The sun sets over the Naples Pier in the Gulf of Mexico

Pola Damonte / Getty Images

Naples, a family-friendly city, offers relaxed luxury, great beaches and plenty of golf courses. The city, known as one of the most luxurious communities on the Gulf Coast, is home to many opulent oceanfront mansions. The legendary Naples Beach Club is currently undergoing a complete makeover into a hotel and residences, adding to the attractiveness and real estate value of the region.


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