Pricey Rentals Going Quick in Naples
Maybe you missed this weekend’s Naples Daily News, if so you missed an interesting article on high valued vacation rentals in Naples. By high valued, we’re not talking a few thousand a month. Some of these places are going for upwards of $70,000 per month! That’s right, per month. Once home on Gordon Drive, in the posh area of Port Royal, has 6 bedrooms, 13 bathrooms, and was bought for $27.3 million in 2011. Want to rent this baby out for the season? It will cost you $150,000 per month!
What is up with all these pricey seasonal rentals? The prices are going up because there is such high demand. With high demand, comes low supply, comes high prices. In the Naples Daily News Article, Adam DeSanctis, a spokesman for the National Association of Realtors, attributes this high demand to the uplift in the stock market. “Because of the stock market, higher-end household net worth is up, so they have more money to spend on rentals,” stated DeSanctis.
The article is a great read. It has personal anecdotes from those listing their homes for rent for the first time and receiving numerous bids. Definitely give it a read.