Nestled along the eastern coast of South Florida, West Palm Beach is nothing short of a dream destination, with a thriving real estate market fueled by people looking to claim their slice of paradise.
However, what is it exactly that makes West Palm Beach one of the most coveted areas in the Sunshine State? Why do people flock to this side of Florida?
Read on to find out everything you need to know about homes for sale in Palm Beach, FL, its surrounding areas, and the qualities that draw people to them.
- Year-round sunshine and abundant natural attractions
One of the biggest benefits to owning properties such as luxury homes in West Palm Beach and its surrounding areas is the abundant sunshine and natural attractions. Homeowners have easy access to recreational spots like the Loxahatchee River, Okeeheelee Lake, and Manatee Lagoon. On top of that, Florida enjoys 10 glorious months of sunshine each year, making it easy to enjoy activities such as boating, snorkeling, and swimming, as well as sports like golf and tennis.
- Higher quality of life
If your home allows you to wake up to a magnificent beachfront view, you’ll have equal access to five-star amenities such as resort-style pools, spas, fitness centers, restaurants, and country clubs. All are part and parcel of buying luxury homes in West Palm Beach, making it a smart choice for real estate investors. In addition, West Palm Beach boasts top-performing schools, as well as proximity to hospitals and business centers, all of which enhance quality of life.
- Better profitability
Another thing that makes investing in homes for sale in Palm Beach, FL a worthwhile endeavor is the potential return on investment. Properties can be turned into short-term luxury rentals catering to the steady stream of tourists that visit the area or as long-term rentals for people seeking employment in the city. Another way to up your ROI is by purchasing, upgrading, and then selling properties, which essentially takes advantage of the high yearly appreciation percentage rates and considerable demand for properties in the area.
- A reputation for being the ‘Wall Street of the South
Perhaps the biggest thing that makes the Palm Beach area attractive to prospective investors is its robust economy and business-friendly climate. Sometimes referred to as “The Wall Street of the South,” the Palm Beach area is home to some of Florida’s largest financial enterprises. It’s also home to over 75 major corporations, each one providing gainful employment opportunities to the area’s residents and allowing them to live a more productive life.
- Incomparable tax benefits
Palm Beach, like the rest of Florida, does not impose an income tax on individuals. This allows residents to keep more of their income, which they can then reinvest elsewhere. In addition to the absence of an income tax, Palm Beach County also has one of the lowest property tax rates in the US, which is around 1.02% of a home’s fair market value.
- Location, location, location
One other factor that makes West Palm Beach a great location to buy a condo is its proximity to several major cities in South Florida. Its enviable location multiplies the number of restaurants, shopping malls, theaters, and parks that its residents can go to. Furthermore, the city is also served by Brightline, a new high-speed rail line that connects West Palm Beach with cities such as Boca Raton, Fort Lauderdale, Aventura, Miami, and Orlando, making it even more accessible to tourists and prospective residents alike. On top of that, the major airports nearby, such as West Palm Beach International Airport, Hilton Palm Beach Airport, and Fort Lauderdale-Hollywood International Airport, make traveling to and from the area seamless and stress-free.
FIND A HOME IN WEST PALM BEACH WITH THE TELCHIN GROUP LLC
With its majestic skylines and breathtaking views of the ocean, West Palm Beach is a paradise waiting for you to find it.
If this is the kind of community you’re looking for, give The Telchin Group LLC a call. A top-tier real estate brokerage, The Telchin Group LLC specializes in buying and selling luxury real estate properties at The Club at Ibis, an award-winning country club in West Palm Beach.