Presented by Christian Angle Real Estate
FLORIDA MARKETWATCH PALM BEACH CONTINUES TO HEAT UP FOR HAMPTONS HOMEOWNERS
W
e hate to say it, but summer is almost over. While we’re soaking up every last ray, we’re also thinking of Florida.We’ve got good news about the aptly named Sunshine State, it isn’t just for snowbirds and retirees anymore. The Southern Florida real estate market has been trending up, attracting many of our own Hamptons and New York City residents to trade in apples for oranges with second (and third) homes down south. Industry pros are sharing their insights to what’s heating up this year. First stop: Palm Beach.
As to what Hamptons and New York City homeowners are looking for when considering a purchase in Palm Beach, the lifestyle is a big draw. “Many Hamptons and NYC buyers are looking for quality new construction, manageable homes with greenspace and gardens, and large pieces of land to build,” Mr. Koch shares. “We have the most amazing weather, beaches, restaurants, and cultural activities available to our residents. Also, it is a quick 10-minute drive to Palm Beach International Airport. Living here is very convenient and safe!”
“Palm Beach is an island that is very different than any other community in Florida,” says Corcoran Group Sales Associate Dana Koch. “The aesthetic is so magnificent that people fall in love when they come here and never want to leave. A special enclave, it is meticulously maintained with many options to choose from including new and historic singlefamily homes, townhomes, and condominiums. Right now, the market is very healthy.”
Candace Friis, Broker Associate with the Corcoran Group’s Delray Beach office, agrees that the Palm Beach market is strong, stating the area has edged out other markets like Miami, where it’s been slower thanks to a stronger US dollar and Miami’s dependence on foreign investment. With a healthy inventory available, Ms. Friis says now is a great time to buy in Florida.
A main attraction for first time Florida buyers, as many agents will tell you, is that there is no state income tax in Florida. For those with a high net worth, Mr. Koch says there’s a big tax savings, which allows a homeowner to fund their “cost to carry their home.” It’s a benefit New Yorkers can understand all too well.
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“When looking to purchase a home in South Florida, buyers from NYC and the Hamptons are looking for a home and location that allows them to enjoy an ideal tropical lifestyle be it on the ocean, the Intracoastal or just near shops and fine dining; each dream is different,” Ms. Friis shares. “New York residents are seeking a getaway in a warm tropical climate reminiscent of the Caribbean yet with all of the conveniences of still being in the US.”
H A M P T O N S R E A L E S TAT E S H O W C A S E . C O M
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BY RACHEL BOSWORTH
A large influx of year-round people in South Florida has been trending as well with homeowners making the area their primary hub. “South Florida has evolved considerably in the last 25 years,” says Christian Angle, Broker and Owner of Christian Angle Real Estate in Palm Beach. “It’s not just a winter getaway. There are thriving yearround businesses, school systems are establishing themselves, and you’ll quickly find Palm Beach has the same activities as the northeast.” Mr. Angle goes on to describe the similarities of Palm Beach and the Hamptons, and how the two beach communities complement one another’s buyers. There’s a small town feel with a far reach, attracting visitors from around the globe, restaurants, phenomenal beaches, the arts and shopping embodied in that island lifestyle. For buyers looking to move to the Sunshine State, Mr. Angle says there’s always that conversation about relocating your life. “Any time someone is going to relocate, they’re going to look at certain aspects,” explains Mr. Angle. “Will I enjoy the same lifestyle? Is there an ability to commute? You have to look at the broader spectrum, it’s not just about having fun. If you’re looking at it from a seasonal perspective, you look at it differently. We have all of those components in place.”