Danielle Hale Chief Economist | realtors.com
Florida's luxury housing market is experiencing significant growth, driven in part by the popularity of private jet travel. Currently, seven out of the ten most expensive home listings in the United States are located on Florida's southern coasts, ranging from Palm Beach to Naples.
Danielle Hale, chief economist at Realtor.com, attributes this trend to several factors: "Warm weather and sunny beaches have made Florida a vacation and retirement destination for decades," she says. For affluent households, the state's business-friendly climate and lack of individual income tax add to its appeal.
Private jet travel has become increasingly popular post-pandemic as wealthy individuals seek privacy and flexibility. James Schnars from John R. Wood Christie's International Real Estate notes that "the region’s appeal has been amplified by the ease of access provided by private aviation."
Cara Ameer, a licensed agent with Coldwell Banker, highlights the importance of private jet access for high-net-worth clients: "This clientele tends to own properties in multiple locations and travels frequently." Mariya Letdin from Florida State University observes that higher-end markets remain insulated from economic fluctuations affecting other segments.
Despite recent extreme weather events like Hurricanes Helene and Milton, South Florida's real estate prices rose 9.6% year over year in 2024. Marc Fitzgerald of Sotheby’s International Realty states that his clients value the ability to fly in for short visits: "Having the ability to drive 10 minutes from the airport to their second home is a must."
Airports such as Naples Municipal Airport and Palm Beach International have seen significant increases in private jet traffic. Schnars explains that this accessibility makes Southwest Florida attractive for those seeking second homes or investment properties.
Communities like The Aero Club near Palm Beach offer residents direct runway access from their homes. Similar developments exist throughout Southern Florida, catering to those who appreciate both luxury living and convenient air travel options.
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