Naples Property Market
Buying Property in Naples, Florida
- Population: 19,000
- Condo: $200,000 – $6m
- Family home: $300,000 – $20m
- Waterfront: $2m – $20m
- Investment Potential rating: ***
- Nearest International Airport: Southwest Florida International Airport, 26miles, Naples Municipal Airport, 2 miles
Naples is one of the higher end resort destinations on Florida’s southwestern coast. The city sits on the Gulf of Mexico and enjoys cool ocean breezes and beautiful beaches, which have helped make it one of America’s most popular resort destinations for rich and famous holiday makers.
Naples has some world-class shopping on stylish Fifth Avenue in its historic downtown, and many wonderful waterfront restaurants and glamorous bars, beach clubs and hotels. Naples also boasts plenty of art galleries, chic boutiques and theater to keep visitors entertained. It is an attractive city, with lots of green areas, and a sidewalk cafe culture which helps it draw a European crowd.
It also has a thriving arts and cultural scene whether it be philharmonic, Broadway or entertainment. Throughout the year there are many seafood fairs, art exhibitions and concerts in the afternoon. For outdoor pursuits Naples boasts 12 golf courses in the Naples/Bonita springs area, and huge planned golf communities which offer tropical lifestyle even during the winter months.
Naples also appeals to many Europeans and Canadians due to its proximity to the beach, and with less traffic that the east coast of Florida, as well as direct European flights.
Naples Property Market Summary
Inventory in Naples has decreased significantly in the last year, at least by 18 percent, and sales continue to be high, amounting to less than six months of inventory. Median house prices have increased by 13 percent on the previous year, rising to $220,000.
What Can I Buy in Naples?
Naples has investment properties available in the $100-250,000 and $600,000-$2,000,000 regions but is particularly low on inventory in the middle brackets. Overall, there isn’t much inventory under $300,000. However there is lots of new building in Naples, partly to try and meet the inventory demand, and buyers pay a premium for these favored new builds.