Increase in private jet travel fuels Florida’s luxury housing boom

Florida’s luxury housing market is booming, thanks in part to the popularity of private jet travel in the state.

This week, seven of the 10 most expensive home listings in the country are on Florida’s south coast. Stretching President-elect Donald Trump’s Palm Beach turf to Gulf-side Northeast transplant hotspot Naples, Florida is ruling the roost.

The market has gained more traction as more Americans have made the decision to head South (albeit, mostly at a largely lower price range).

But South Florida has become a hub for wealthy homeowners who are looking for luxury living — and want the flexibility that the region’s many private airports offer.

“Warm weather and sunny beaches have made Florida a vacation and retirement destination for decades,” says Danielle Hale, Chief Economist of Realtor.com®. “For affluent and higher-income households, a business-friendly climate and a favorable tax environment containing no personal income tax are likely to add to the appeal.

“While Florida, especially South Florida, can take a while to get to if you’re driving, many major U.S. cities are within two to three hours of flight time from Florida, including Boston, New York, Chicago, Dallas and Houston if you’re “We’re flying direct.”

What’s driving the private jet craze

Florida’s warm weather, proximity to northeastern cities, tax-friendly environment and abundance of airports make it an ideal destination. Ulf – stock.adobe.com

In the post-COVID-19 pandemic era, those who can afford private travel have given up on public transportation. The private jet industry saw a big hit in 2022, although the number of flights has decreased somewhat since then.

Most of the private jet growth was in South Florida, which has five of the nation’s 25 busiest private jet airports.

Before the pandemic, Florida’s south coast already had some of the most sought-after real estate in the country, with luxury properties in Naples and Palm Beach County going for hundreds of millions of dollars.

But real estate agents say that recently, private jet travel has brought even more interest to the area. Riviera Beach, for example, is only 20 minutes from Palm Beach International Airport, and home prices there have increased by an astounding 163% since last year.

The median home price in Palm Beach County is now $1.1 million.

“The region’s appeal has been boosted by the ease of access provided by private aviation, especially after the pandemic, as affluent buyers prioritize privacy and flexibility,” says James Schnars, chief marketing officer at John R. Wood Christie’s International Real Estate in Naples .

Why South Florida is booming

Thanks to private aviation, South Florida has never been more accessible. bilanol – stock.adobe.com

Wealthy clients are drawn to South Florida for the obvious reasons: sun, surf and a slower pace of life. But they also expect convenience.

“Access by private jet is an extremely important feature of the affluent lifestyle,” says Cara Ameer, licensed agent with Coldwell Banker in California and Florida. “This clientele tends to own property in multiple locations and travel frequently, so being able to get in and out easily is essential, without the hassle of public airports.”

Wealthy customers are also less likely to be affected by rising interest rates.

“The activity is at the higher end of the market,” Mariya Letdin, a business professor at Florida State University, told the Miami Herald earlier this year. “It is a tale of two cities within one city. The top market is insulated from what’s going on. In the rest of the market, we will see price cuts because interest rates are stable and people can’t afford to stretch their budgets.”

Even the region’s recent bout of extreme weather, including hurricanes Helene and Milton, hasn’t deterred wealthy buyers.

In 2024, South Florida saw prices increase by 9.6% year over year.

Private flight offers added flexibility

Having the flexibility to fly whenever they want is a big draw for many of real estate advisor Marc Fitzgerald’s clients.

“I’ve worked with a lot of buyers who want to be able to fly out for the weekend and go to their condo and fly back,” says Fitzgerald, who is with Sotheby’s International Realty. “Having the ability to drive 10 minutes from the airport to their second home is a must.”

The growth in private jet travel “reflects the growing demand for exclusivity, convenience and a lifestyle that offers luxury and access,” he adds.

On Florida’s southwest coast, jet-setters fly in and out easily through the all-private Naples Municipal Airport.

To prove the growing interest in private travel, you only have to look at the increasing number of private jets flying to NMA. In 2021, the airport served 113,137 passengers.

The following year, this number increased to 184,134.

Shoppers in the area appreciate a short drive to an airport. KirKam – stock.adobe.com

According to the Naples Airport Authority, at least 80% of those people visited the area because they already owned or were looking to buy property in Collier County.

Similarly, on Florida’s southeast coast, Palm Beach International, which serves both commercial and private flights, saw a 95% increase in private travel between December 2019 and December 2022.

“The ability to fly in, visit multiple luxury listings and return home in a single day makes Southwest Florida a top choice for high net worth individuals looking for second homes, investment properties or permanent residences,” says Schnars.

Palm Beach International saw a 95% increase in private travel between 2019 and 2022. Felix Mizioznikov – stock.adobe.com

Jet-setters love Florida’s fly-and-fly culture

Southeast Florida is home to many fly park communities where homeowners can simply park their aircraft in their driveways.

The Aero Club, located in Wellington, near Palm Beach, is an air park community where homes can be built with private hangars. Residents have access to a private 4,000 meter long runway.

Nearby in Jupiter, the Tailwinds gated community also offers flying opportunities with its 2,700-foot runway. A home there is on the market for $3.7 million, and the lucky buyer will have the opportunity to build a custom hangar on the property.

Wing South Airpark, a luxury residential development in Naples, offers similar amenities. Each home includes a custom hangar and the development is built around a private runway.

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