It’s no secret that the real estate industry has grown more and more frenetic and hard to predict over the past couple of years. While it used to be safe to say that New York and L.A. were the most expensive areas in the country for prospective homeowners, that’s no longer the case. This boom is hitting particularly hard in a specific region of the U.S.: South Florida, an area that includes Miami, Palm Beach, Fort Lauderdale, and many of the other hottest spots in the Sunshine State. “Whether it’s tax reasons, or the weather, it’s really the lifestyle that people enjoy here,” says Florida real estate agent and vice president of ONE Sotheby’s International Realty Michael Martinez. “It could be February, and it’s 70 degrees, it allows people to do so much more. We have museums and beautiful parks, or if you’re into just hanging out by the beach or jogging every morning, that’s really pleasant.” The area has also become a bona fide hot spot for celebrity real estate.

There’s no doubt that the Florida lifestyle was a wonderful fit at the height of the pandemic: If you have to spend months cooped up somewhere, it might as well be a place like the $35 million Palm Beach spot Sylvester Stalone picked up in December of 2020, with its private beach, poolside cabana, gym, and temperature-controlled wine room, or the Frank Lloyd Wright–inspired pad Sophie Turner and Joe Jonas bought for $11 million this past September. Yet, as perfect as it is for homebodies, as things open up again, world travelers view it as a great home base because, as Martinez put it, it’s “the gateway to the Americas.”

Jonas and Turner’s Miami home.

Photo: Kris Tamburello for Douglas Elliman

“A lot of celebrities like to jump on a yacht and go 50 miles down to the first island of the Bahamas and get away and be on secluded beaches. Miami’s kind of strategic, it’s a very good location within the country, especially if you go to Europe and Latin America often.”…

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