Jeff Bezos has invested almost $600 million in America’s new ‘Billionaire Bunker’, as traditional luxury real estate hubs like NYC and Beverly Hills are outpaced by a surprising new hotspot.
Only a matter of weeks after Jeff Bezos — the founder of tech giant Amazon — reclaimed his place at the top of the world’s rich list, he’s proved once again that he’s more than capable of putting his vast wealth to work by purchasing yet another mega-mansion on Florida’s Indian Creek Island, that we’ve dubbed the “Billionaire Bunker”.
Bezos has reportedly purchased a third mansion on the island for a whopping $136.7 million (c.$90 million USD), bringing his total investment in the area to almost $600 million (c. $571 million AUD/$372 million USD). Bezos is not alone in this move, however…
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We are in the midst of a much wider trend of superrich individuals flocking to Florida, and especially Miami, as the state’s real estate market continues to outperform the more traditional luxury hubs that you might expect to draw in those with the required megabucks. Take Beverly Hills and New York City as prime examples.
Indian Creek Island — which streches over a 300-acre green expanse but boasts just 41 residential homes — has become one of the most exclusive and sought-after spots in the country during the past few years. Bezos’ latest acquisition is said to only be a temporary residence as his plans to demolish his two previous properties on the island and reimagine them as a custom mega-mansion slowly take shape.
Rumour has it that this aggressive expansion has stirred some discontent among the island’s other elite residents, who aren’t just competing for a piece of this exclusive enclave but also for some peace and quiet.
The shift in luxury real estate taste isn’t confined to Indian Creek Island alone. Across Florida, neighbourhoods like Coral Gables and Naples are experiencing an unprecedented skyrocketing of property values.
The typical home price in Gables Estates, Coral Gables, now exceeds $32 million (c. $21.1 million USD) while the long-envied enclave of Beverly Hills falls behind to a comparatively meagre average house price of $18 million (c.$12 million USD).
Similarly, a typical home in Naples’ Port Royal neighbourhood has surged nearly 80%, from $14.9 million (c.$9.7 million USD) four years ago to $26.7 million (c. $17.4 million USD) today.