Florida Trend Exclusive
Sun, sand & sold
Private islands are the fodder of American dreams, as well as status indicators that drive the rich and the wealthy to claim their own piece of paradise. Often, they find their pick in Florida, where the private island market is as active — and as exclusive — as it gets. Florida’s total number of private island sales is tough to track because many happen off-market. But the state’s island market is booming alongside its population. [Source: Florida Trend]
Climate change is coming for Florida’s real estate. Why don’t prices reflect it?
While some see signs that frequent hurricane strikes and associated skyrocketing insurance costs may be finally cooling things off, the South Florida real estate market, in particular, has so far remained remarkably resilient to flood risks – more resilient than many of the actual homes. So, despite dire warnings from environmentalists and some economists, the real estate industry looks at the numbers and doesn’t see evidence of a bubble ready to burst. Yet. [Source: Tampa Bay Times]
Florida 2nd highest for home insurance costs in nation
A study from Bankrate.com found that the Sunshine State remains among the most costly for residents insuring their homes. Their data showed that Florida ranked second highest in the country with an average premium of $5,409 for a $300,000 home. The study said that figure is about 132% more than the national average premium of $2,329 per year for the same amount of coverage. [Source: WPTV]
This huge Southwest Florida resort to be sold by summer. Here is the plan.
Allegiant Travel Co. expects to finalize the sale of its Sunseeker Resort by September. The resort, which opened in December 2023, has faced challenges including construction delays, hurricane damage and a remote location. Despite these setbacks, occupancy rates have improved, reaching 70% in the first quarter of 2025. [Source: Fort Myers News-Press]
How developers gained government status in Florida, then got bonds to build big
Dozens of new local governments, led not by mayors or town managers but instead by businesses profiting from those who live there, have sprouted up along with the sprawling new housing communities they bring. The real estate developers behind these independent special districts use their government status to float multimillion-dollar, tax-free bonds to finance construction and dictate how homeowners pay it back — all with no reins on the spending. [Source: Tampa Bay Times]
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$133,177,500
A Naples home is No. 1 on the list for most expensive single-family property transfers in Collier County from April 1-30, 2025. [Source: Naples Daily News]
› Naples among top 10 most expensive single-family home markets in U.S.
More than 80% of metro markets in the U.S. registered home price gains in the first quarter, as the 30-year fixed mortgage rate ranged from 6.63% to 7.04%, according to the National Association of Realtors’ latest quarterly report. Eight of the top 10 most expensive markets for single-family homes were in California, with the No. 4 Honolulu and No. 9 Naples markets bucking the trend.
› Bankrupt Miami hotel marketed for sale
The Holiday Inn Port of Miami-Downtown is being marketed for sale through bankruptcy as a potential redevelopment site. Jeffrey Azuse of Hilco Real Estate Sales has listed the hotel, at 340 Biscayne Blvd., for sale and will be accepting letters of interest through June 16. The 0.91-acre site currently houses a 10-story, 200-room hotel, but the land is zoned for a tower of up to 82 stories totaling 1.44 million square feet.
› Couple list Florida megamansion on land they bought from Billy Joel
These sellers are movin’ out. A tricked-out Florida megamansion on property once owned by Billy Joel is going on the market for $84.888 million. The waterfront property is one in a string of big-ticket listings to hit the market over the past few months in Manalapan, a roughly 400-person town just south of Palm Beach.
› Brevard apartment development market is 'robust,' with strong demographics
Brevard County's apartment market is continuing to expand, with new developments being built or planned throughout the area. Apartment developers say the Space Coast's resident mix and growth potential help persuade them that this is a good place to expand. "We came to this area because it has such a compelling job-growth story," said Nick Herring, executive vice president of the Tampa-based Framework Group.