Yahoo featured an article on their front page 6/15/2010 citing a Forbes study on where the Wealthiest people in the country are moving – and atop the list, Collier County Florida, specifically Naples. The interesting statistic is slightly more people left than arrived, however, of those who arrived averaged the highest arriving average income per capita.
The information was pulled from IRS data, and the biggest reasons for moving have been Low taxes, warm sunshine and deep discounts on real estate.
Naples real estate certainly provides all three of those important factors to a homebuyer, especially a wealthy one.
Taxes are typically assessed at 1.25% of purchase price. Given the newly completed public project, both utility and beautification, clean streets, excellent public services and overall quality of living of Naples, these taxes are cheap in comparison to surrounding areas in southwest Florida with higher taxes.
Everyone knows the climate of southwest Florida is second to none.
Deep discounts on real estate are found everywhere, including luxury homes west of 41. The distressed market sparked home sales in the last couple years, but regular resales remain strong. Naples foreclosures and Naples bank approved short sales are among the top value properties. However, in the last two months (4/15/2010 to 6/15/2010) Naples single family home sales excluding foreclosures and short sales totaled 428. Almost one in 5 sales (18%) were over $1M sales, with almost half of those over $2M. If Golden Gate Estates homes were excluded, the average price would tip just over $1M.
Naples experienced significant growth in the last 10 years, yet the city managers, architects and developers held true to the look and feel of one of the oldest cities in the world on the other side of the Atlantic. Marrying the southwest Spanish architecture with Old Italian flare creates a feeling of endless beauty amongst the blue-green waters, lush tropical vegetation and sprawling water views. Fountains, navigable waterways and lakes fill sightlines from a stroll through your neighborhood or your screened in lanai. Buyers prefer Naples homes and condos because the newer developments maintain the feel of olden times of ancient architecture with features that match Mediterranean castles, churches, museums and villas.
It’s no wonder the wealthiest people in the country favored Naples over any other place in the country.
Eamon Murphy for Tim Ryan
(239) 963-4070
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