Boat International US Edition — November 2017

WWW.BOATINTERNATIONAL.COM NOVEMBER 2017

PHOTOGRAPH: ISTOCK

or luxury property

buyers, Florida is

known for two things

• big boats and low
  taxes. The lack of a state income
  tax can save taxpayers as much as
  13 per cent of their annual income.
  And water is so prevalent that
  a third of the state’s population
  now lives in the waterside
  counties of Miami-Dade, Broward
  (home to Fort Lauderdale,
  superyacht capital of the US) and
  Palm Beach. These are also some
  of the most expensive places
  to buy property in the country.
  “The marine industry fuels
  many of the residential purchases
  here: yacht designers, brokers,
  marine manufacturers,” says
  Ron Shuffield, president of EWM
  Realty International. He adds
  that, despite the devastation
  wrought by Hurricane Irma,
  2017 has been a good year. In June,
  July and August sales of $1 million
  plus homes rose by 32 per cent
  year-on-year.
  Katia Bates, creative director
  of Innovative Creations,
  a construction and interior design
  company, says: “While Miami has
  always been the spot to be, in
  recent years Fort Lauderdale has
  seen a tremendous change and
  become one of the most desirable
  places to live in America.” This
  she attributes to the rise in new
  luxury condos and high-end
  restaurants. “Fort Lauderdale
  is also the Venice of America,
  with miles of canals where boaters
  can navigate endlessly.”

PROPERTY

FLORIDA FOCUS: $1 MILLION HOMES ARE ON THE RISE

PLUS SEE INSIDE PALM BEACH’S MOST EXPENSIVE EVER HOUSE

Million

dollar babies

Palm Beach and Miami have always attracted

elite purchasers, but the superyacht hub of

Fort Lauderdale is also on the up for investors,

says Francesca Steele

F