New construction is back! After a few years of recovery from the real estate bubble, new home construction is on the rise in Naples!

According to an article in the Naples Daily News, aided by a surge of new construction, Collier County’s taxable property values are up for the second year in a row. This increase was larger than expected and due to a surge in new construction in 2012. Collier County saw new construction increase to more than $503.8 million, up from $419.3 million the previous year, or about 20%. The city of Naples saw strong growth in 2013. Early estimates show taxable property values increased to more than $15.7 billion from $14.9 billion the previous year. That’s an about 5% increase over the 2012 final tax rolls. Most of the new construction that Naples experienced in 2012 was residential construction. The city saw new construction increase to more than $121 million, up from $101.1 million the previous year.

 

For more information on Naples luxury real estate, please contact Lauren Taranto at Laurentt@me.com or visit www.tarantoteam.com