Local agents say a sharp rise in buyer activity during the first quarter has fueled significant gains in both contracts and closings, signaling renewed confidence in the high-end coastal market. Activity has been broad-based, with properties ranging from modest condominiums to luxury homes changing hands.
A recent report compared median annual rent with median household income across 182 cities nationwide. Miami ranked last for affordability, with renters dedicating about 33.77% of their income to housing.
Damac Properties, the Dubai-based developer that purchased the property, has not sold a single unit at its planned luxury condo building, known as Delmore Surfside condo project. The redevelopment has remained controversial, as some community members had hoped the site would instead become a memorial.
High housing prices, low wages, and other financial pressures are driving Miami-Dade residents away. The result is a concentration of wealth: higher-income individuals are moving in, while lower-wage workers are moving out, and overall population growth is beginning to stall. That’s not a healthy trajectory for long-term economic stability.
While the Treasure Coast continues to attract attention for its coastal appeal and steady population growth, successful investing in this market requires a clear understanding of the local variables that influence returns, risk, and long-term performance.
Scheduled for completion in the fourth quarter of 2029, the project will feature two 20-story towers containing 132 condo residences, along with six townhomes and 17 guest suites.
National real estate company and multifamily developer Thompson Thrift recently celebrated the grand opening with a ribbon-cutting ceremony. The 276-unit Class A community marks a significant addition to the Vero Beach housing market.
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.