The Naples luxury home market has remained active despite the national real estate slow down. With tropical weather, Florida's advantageous income tax laws and significant reductions in construction costs, many are electing to build new dream homes in the Naples area.
Much of the luxury new construction activity to date has involved tear-downs in upscale waterfront communities including Port Royal, Aqualane Shores and Olde Naples. Original homes on prime waterfront lots built in these neighborhoods 40 or 50 years ago are often purchased, torn down and replaced by a larger modern home.
Luxury new construction generally costs at least $500 SF and can range significantly higher based on the level of customization of a given home. This cost is on top of the expense of buying a vacant lot or an existing home and razing it. Options area currently available on the market for for both new construction and re-sale luxury homes. Here is a resource to view Naples luxury homes.