Jupiter portrays wealthy home buyers seeking alternatives to Palm Beach
Related Group CEO Jon Paul Perez and Nelson Stabile of the Builders Association Association of Integra Investments South Florida respond to data that tens of thousands of seniors have fled New York for Florida and brought their wealth.
The town of South Florida, not too far from Palm Beach, portrays a gorgeous homebuyer.
Real estate experts say Jupiter, located in northeastern Palm Beach County and famous for its golf courses, has become a popular place for wealthy individuals to buy a home in recent years.
Seth Mansfield, Douglas Elliman’s agent and Forte Luxe’s sales executive agent, told Fox Business that he’s seen many wealthy people come to Jupiter. Storybook Lifestyle In a relaxed environment. ”
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“They will have access to great restaurants, shopping, idyllic waterways and more world-class golf courses than they can play.
Jupiter offers “the best life in South Florida” at a price that “is felt reasonable to wealthy buyers, especially compared to Palm Beach and Miami.” According to Jenna Stauffer of Sotheby’s International Realty.
The influx of wealthy home buyers into Jupiter and the wider South Florida area has increased during the Covid-19 pandemic, experts said.
Mansfield also said that Jupiter “don’t know about wealth.”
According to Stauffer, they continue to come because of the Florida lifestyle and the state’s “tax-friendly, business-friendly environment.”
The high prices in nearby Palm Beach brought more wealthy people In the area.
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“Jupiter offers many of the same benefits, including boating, golf, luxury homes, privacy, and more,” Stauffer said. “It has that luxury without paying the same level of attention and some buyers really like it.”
A boat sits next to a ski slip at Jupiter Inlet Marina on Friday, August 30, 2019, ahead of Hurricane Dorian in Jupiter, Florida. Hurricane Dorian reached hurricane status as he headed for Florida. (Christina Mendenhall/Bloomberg via Getty Images)
Homes for sale in Palm Beach posted a median asking price of $3 million in April. Realtor.com. Meanwhile, the selling price for the central home was $3.4 million.
Jupiter has a lower price than Palm Beach, but there are still many homes in the area Luxurious properties. Zillow showed many homes at the Jupiter market on Friday, sought prices ranging from $29 million to $45 million.
Mansfield said the wealth that comes to Jupiter is increasing. “We’ve raised the floors, especially the ceiling of the Jupiter real estate market,” he said.
“The median price for a detached house five years ago was $530,000 and ceiling prices were $12,250,000. Over the past year, those figures were $980,000 and $48,000, respectively,” he said. “I don’t think I saw the ceiling of Jupiter.”
Jupiter’s inlet lighthouse. (Elizabeth W. Curry/Getty Images)
Jupiter’s luxury home inventory has tightened prices and rose due to an influx of wealthy buyers, Stauffer told Fox Business.
“There’s definitely a race for a turnkey luxury home. We’ve seen an increase in high-end renovations and new construction as sellers and developers meet demand,” she said.
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Both said they believe wealthy home buyers will continue to come to Jupiter this year.
Aerial view of the Roxahatchee River from Jupiter’s Inlet Lighthouse in Jupiter, Florida. (istock / istock)
“In addition to the steady movements from the northeast and California, we see more and more buyers getting attention. From Palm Beach to JupiterMansfield said. I really believe Jupiter is underrated.
Jupiter counts causes such as Michael Jordan, Wayne Gretzky, and Kid Rock, Tiger Woods and other well-known golfers. According to Palm Beach Post. The late actor Burt Reynolds was a longtime Jupiter resident and called it “the best place in the world.”