Coconut Grove is rapidly morphing into the city’s newest billionaire enclave, fueled by a wave of nine-figure real estate deals.

Island brokers and builders say interest from South Florida luxury buyers has surged, driven by Vero’s relative affordability and its uniquely relaxed, refined lifestyle.

Even as the post-pandemic real estate boom cools, home prices in the Sebastian–Vero Beach metro area continue to rise.

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Miami’s economic momentum continues to be driven by solid consumer spending and ongoing construction activity. Growth in the first quarter is expected to exceed national averages, reaching approximately 2.5% to 3%, although lingering economic uncertainties warrant caution.

Once dismissed as “Zero Beach,” Vero Beach is increasingly proving itself as a refined, tranquil alternative for luxury buyers seeking space, value, and a slower pace of life.