Luxury Real Estate and Coastal Destinations
Naples Sets Record Homes Sales

Naples Sets Record Homes Sales

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Naples has seen two record home sales in less than two months. Two beach-front mansions on Gordon Drive in the Port Royal area — a haven for the ultrarich — recently sold for more than $40 million each, beating a record set in 2007.

One of the estates fetched nearly $47.3 million in an all-cash deal, making it the most expensive home ever sold in Naples. The other went for $42 million, putting it in second place.

Boosted by the record sales, the Port Royal area has seen more than $160 million worth of property exchange hands since January, said Philip Collins, a broker associate for Premier Sotheby’s International in Naples. There were four sales made for more than $10 million.

“What we are finding out is that people that have the disposable income to purchase such a property find it somewhat of a safe haven, relatively speaking. I think they think it’s a good investment from the standpoint that the real estate market is coming back and it’s coming back rather strong and they do not make anymore waterfront,” Collins said.

Naples isn’t the only market attracting the attention of billionaires. The Miami market has seen some eyebrow-raising home sales of its own in the past year, including a sprawling estate that recently sold for about $40 million on the exclusive Indian Creek island.

The two record-breaking sales in Naples were made in March and April. Local Realtors sold them privately, so the homes were never publicly listed on a multiple listing service, or MLS.

Read Full Article at NaplesNews.com

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  1. Barry Waty Friday - 04 / 05 / 2012 Reply
    I like this website so much, saved to bookmarks. "To hold a pen is to be at war." by Francois Marie Arouet Voltaire.

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