{"id":146526,"date":"2026-02-06T21:08:07","date_gmt":"2026-02-06T21:08:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/146526\/"},"modified":"2026-02-06T21:08:07","modified_gmt":"2026-02-06T21:08:07","slug":"luxury-florida-haven-sees-boom-in-buyers-seeking-third-homes-at-more-affordable-prices","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/146526\/","title":{"rendered":"Luxury Florida Haven Sees Boom in Buyers Seeking Third Homes at More Affordable Prices"},"content":{"rendered":"

Florida<\/a>\u2019s luxury real estate market<\/a> is seeing a notable shift as affluent buyers who want to add a sun-drenched home to their portfolio seek third homes inside a laidback waterfront community known for its golfing.<\/p>\n

Palm Beach Gardens<\/a> is “a great neighborhood for third-home buyers who are seasonal,” says Johnny DelPrete<\/a> of Douglas Elliman, who lives in nearby Jupiter<\/a>. “They’ll have the retail, shopping, restaurants, and of course, golf courses.”<\/p>\n

Unlike nearby Palm Beach<\/a>, Manalapan<\/a>, West Palm Beach<\/a>, and Jupiter Island, Palm Beach Gardens isn’t known for the jaw-dropping price tags those areas routinely ask. “It’s a lot cheaper than Palm Beach,” DelPrete agrees.<\/p>\n

The priciest active listing<\/a> in Palm Beach Gardens is $30 million, practically a steal compared with the $50 million and up routinely found in those more glitzy areas, with a median price tag of $944,000 compared with Palm Beach’s $3.2 million.<\/p>\n

That makes it the ideal location for those adding a third home to their portfolios. Those with the means typically own a primary home, often in the Northeast; a home in a mountainous area for skiing, often Colorado or Montana; and then a third pad in a warm state near the beach, frequently South Florida.<\/p>\n

By the time a high-net-worth buyer gets to their third home, all but the most wealthy don’t want to splash out tens of millions. Nor do they necessarily want a costly home that requires lots of maintenance or staff to keep it running.<\/p>\n

“With Ritz-Carlton [Residences], it makes it easy to get that white-glove service and not have any of the responsibility or maintenance,” DelPrete, who is repping three units in the complex, including a penthouse, tells Realtor.com\u00ae.<\/p>\n

“The new generation doesn’t want or need that 10,000-square-foot house,” he says.<\/p>\n

The Ritz-Carlton Residences<\/a> at 2200 PGA Blvd. and Ellison Wilson Road is a 106-unit project consisting of three buildings. It’s the first ultra-luxe development in the immediate area, spanning the last 14 contiguous acres of waterfront land in Palm Beach Gardens. Expected to be finished ahead of the spring 2026 deadline, 50% of residences have already sold, according to the company.<\/p>\n

Ritz-Carlton (owned by Marriott International) has 20 other residential complexes in the state that are either open or being developed, including in North Bay Village,<\/a> West Palm Beach, Sarasota Bay, Naples, Pompano Beach, Coconut Grove, and Estero Bay, making Florida the most popular state for the brand.<\/p>\n

The Palm Beach Garden units, priced from $3.8 million to $10 million, will feature “estate-style” residences<\/a> ranging from 3,400 to over 6,500 square feet with three to five bedrooms, and an office\/den. There are en-suite guest bedrooms with private balconies and sweeping views of the Intracoastal Waterway. Steps from the complex is a 29-slip private marina that can house vessels up to 75 feet.<\/p>\n

Unit interiors boast Italkraft cabinetry, Wolf and Sub-Zero appliances, and Italian porcelain tile work. The development’s amenities<\/a> include a concierge team, pool and cabana services, a waterfront clubhouse lounge, event kitchen, coffee bar, game room, in-house dining, pet care facility, and a fitness center.<\/p>\n

DelPrete says he’s fielded interest from several serious buyers, usually someone downsizing from a large home in the area\u2014typically Jupiter or Palm Beach\u2014or who is snapping up a third dwelling.<\/p>\n

“There’s the Northeast, then you have snow, sun, or international,” says DelPrete of the three locations where a high-net-worth person usually buys. “New York, Aspen, Montana, Los Angeles, obviously South Florida. Those are pretty big markets and they all correlate.”<\/p>\n

According to National Association of Home Builders, the state with the largest stock of second homes was indeed Florida, accounting for 15.3% of all second homes. California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania followed.<\/p>\n

In 2022, the total count of second homes was 6.5 million<\/a>, representing 4.6% of the nation’s housing stock and a decline from 2020, when there were 7.15 million second homes.<\/p>\n

While the group doesn’t track third-home ownership, a generous estimate would mean less than 2.5% of Americans own a third home. DelPrete says the typical buyer made a fortune in tech, finance, private equity, or owns a successful business.<\/p>\n

As a former golf pro, DelPrete is uniquely qualified to service the area’s golf-living clientele.<\/p>\n

“It helps if they know you can speak their language,” he says. “Of the top 10 golfers in the world, five live in the area. I’ve represented enough [pro golfers] that they feel comfortable working with me.”<\/p>\n

While DelPrete won’t name any names, pro Greg Norman<\/a> lives in Palm Beach Gardens, having purchased a mansion for $12.2 million in 2021, one day after selling his longtime mansion in Jupiter for $55.1 million.<\/p>\n

Fifteen minutes north in Jupiter, a host of bold-faced names, such as Tiger Woods, have homes. It’s not only the balmy weather that attracts them, but world-class golf facilities such The Bear’s Club and Medalist Golf Club. A five minute drive from the new Ritz-Carlton Residences is the North Palm Beach County Club.<\/p>\n

“If you’re looking in this area for a condo with the luxury lifestyle and white-glove service, there’s really nowhere else to look,” DelPrete says.<\/p>\n","protected":false},"excerpt":{"rendered":"Florida\u2019s luxury real estate market is seeing a notable shift as affluent buyers who want to add a…\n","protected":false},"author":2,"featured_media":146527,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[70880,28,30,29,70878,17069,9097,7861,70879,807,4556],"class_list":["post-146526","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-delprete","tag-florida","tag-florida-headlines","tag-florida-news","tag-johnny-delprete","tag-jupiter-island","tag-palm-beach","tag-palm-beach-gardens","tag-ritz-carlton-residences","tag-south-florida","tag-west-palm-beach"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/146526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=146526"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/146526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/146527"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=146526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=146526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=146526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}