Sunny side up: A tale of two markets in Fort Lauderdale

As Fort Lauderdale real estate splits between falling condo prices and soaring waterfront homes, new branded residences attract global buyers. Ruth Bloom unpacks...

The boats on sale at this year’s Fort Lauderdale International Boat Show are as seductive as ever. But, on land, is there as much shine on the real estate market as on the hulls in the marina?

Mainstream prices, which soared at the peak of the pandemic as buyers flooded south for a more outdoorsy lifestyle in a low-tax state, have started to fall. According to the latest research from Rocket, the median sale price in Fort Lauderdale slipped by 0.8 per cent over the year to July, to an average of $471,000 (£348,747) or $3,940 per square metre.

Worse, analysis by Bloomberg suggests that the number of homes actually sold fell 19 per cent in a year and properties languish on the market for an average of 83 days. Chen Zhao, head of economic research at Redfin, has described South Florida as the “epicentre of housing market weakness” in the US, concluding that the post-Covid-19 boom has now bust.

However, happily for owners of Fort Lauderdale’s trophy waterfront houses and the developers currently investing billions of dollars in upscale branded residences, property markets are not homogeneous. Prime property is little impacted by issues such as rising interest rates and affordability concerns, and some sections of the market are still in fine fettle.

“It’s really a tale of two markets,” says Josh Dotoli of Compass Real Estate. “Waterfront single-family homes at the top end are still holding strong – up around seven or eight per cent over the past year – because there’s only so much dockage and ocean-access property out there.”

On the flip side, the price of luxury condos has dropped by 10 or 11 per cent, said Dotoli, because there is more inventory on the market than buyers.

Gilles Rais, lead of the Gilles Rais fine homes team, agrees that homes in sought-after addresses like Bay Colony, the gated community that’s home to Lionel Messi, still sell to buyers who care more about their quality of life than rapid capital growth. “For families relocating or seeking a luxury lifestyle with access to world-class education, yachting and golf, there’s simply nothing else like it,” he said. “These buyers aren’t just speculating. They are investing in quality of life.”g a spa, pool and boat, and there are more than a dozen restaurants and bars plus a 17th-floor rotating lounge.

He finds that buyers are more price conscious than they have been over the past few years, but will still pay a premium for a well-located turnkey home, particularly with direct ocean access. Fixer-uppers, on the other hand, have seen prices slide.

Branded residences are a new arrival on Fort Lauderdale’s property scene, with everyone from the Four Seasons to Armani/Casa tempting international buyers looking for a lock-up-and-leave holiday home with plenty of on-site amenities.

The first owners have already moved into residences at Pier Sixty-Six, a reboot of a 1950s fuel dock on Fort Lauderdale’s Harbour Isles. The $1 billion redevelopment has added four new buildings containing a mixture of condos and residences, priced from $3.85 million to $15.5 million for a 700-square-metre penthouse. Owners can use the amenities of the site’s private club, includin

Meanwhile, planning is well under way at Riva Residenze, a 20-storey building on Fort Lauderdale Beach, designed with Italian boatbuilder Riva and being billed as the first yacht-branded residences in the world. The boutique development will have 36 apartments by yacht designer Giuseppina Arena, a private six-slip marina, plus pools and spa. Prices start at $3.5 million, and the two penthouses, each measuring around 817 square metres, are expected to be priced at north of $10 million. The development will be completed in 2028.

A longer-term option is the 16-plus acre St Regis Resort & Residences at the Bahia Mar marina, which is due to be completed by 2030. The complex will include 239 residences and apartments with prices from $3 million, a hotel with interiors by Tara Bernerd & Partners, a beach club, spa, restaurants and a 250-slip marina large enough to accommodate yachts up to 107 metres LOA.

Even though some of these projects were dreamed up during the pandemic surge, Dotoli says buyers are enthusiastic about the concept – particularly when there is an onsite marina and resort amenities.

Looking forward, Dotoli expects prices for houses will continue to grow, but condo values will continue to slide. “Lower interest rates could bring more buyers into the market, but higher inventory and operating costs will keep things from running away like they did during the pandemic,” he said. “Well-located, well-amenitised homes will continue to outperform everything else.”

Rais points out that Fort Lauderdale real estate is good value when compared to properties located in Miami or Palm Beach. On that basis, he expects “healthy growth” in the $5 million to $20 million price bracket over the next year, where stock is limited and demand steady.

First published in the November 2025 issue of BOAT International. Get this magazine sent straight to your door, or subscribe and never miss an issue.