3940 RUM ROW IN PORT ROYAL, NAPLES, FL. CLOSED SALE
The recent sale of an outstanding 1.5 lot parcel with arguably the finest views in Port Royal closed for $6.3 million on Wednesday. The property was both listed and sold by Timothy P. Savage, P.A. of GCIP, and represents an uptick in lot pricing in Port Royal.
Sales in Port Royal to date in 2011 are representative of the quietly talked about the notion that pricing has stabilized for the premium waterfront properties, and has in fact seen between a 5-10% bounce off the bottom. Naples has some of the best opportunities in the nation right now for real estate savvy buyers looking to capitalize on the price correction since 2007.
Real estate has historically been an attractive haven for investors as an inflation hedge, which the U.S. is now starting to see in the price of gasoline and other commodities.