Baby Boomers Buying Up Most of the Palm Beach Real Estate

Recently, the Financial Times has written an article stating that homebuyers aged sixty five and older are expected to account for most of the real estate transactions in Palm Beach. Interestingly, this age group is  also the third largest group of home buyers nationally.

Palm Beach is a town that is known for its beautiful beaches and great weather, which is why it is a top choice for wealthy retirees who are looking for a nice location to spend their retirement years. According to data from the US census, more than half of the Island's population is aged sixty five or older, which is no small number for a population of 8500. This makes Palm Beach one of the most densely populated areas in the county for individuals that are of retirement age. The appeal of Palm Beach is easy to see because the town is situated on a breath-taking barrier island that spans sixteen miles long. The area is very beautiful and is known for presenting a luxurious lifestyle and an active social scene of its residents.

The main benefit that Palm Beach has to offer wealthy individuals looking for asset protection is its great taxation structure: no individual income taxes, no capital gain taxes, and no estate taxes. Palm Beach has always traditionally been a haven for wealthy individuals in the winter months. It first began attracting wealthy individuals in the 1920s and 1930s, at which point John F. Kennedy's father, Joseph Kennedy started making Palm Beach his winter retreat. His son, President John F. Kennedy began making it his winter retreat as well, making his property to become known as the Winter White House. Today, there are several famous property owners such as Jimmy Buffet, Tiger Woods, and Donald Trump.

Although Palm Beach has always been a seasonal destination for many, over the last several years their has been a collective effort to increase the islands popularity year around. This result has made the location very attractive amongst retirees looking for a certain lifestyle, as well as fantastic weather. 

 

Dylan Snyder is a seasoned real estate professional serving the Jupiter real estate market, Palm Beach real estate market, Palm Beach Gardens real estate market, North Palm Beach real estate market, and the surrouding Palm Beach County area. Along with being a top producer in Jupiter real estate, Dylan's professionalism and expertise in luxury and waterfront real estate sets him and his team of real estate experts apart from the competition. For more information on Jupiter and Palm Beach real estate for sale, contact Dylan at (561) 951-9301.

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