Secrets of ‘the new Palm Beach’, where everyone is getting richer and living longer

Once known as a sleepy fishing town for snowbird retirees, Naples, FL, has transformed into one of the nation’s most elite enclaves — dubbed the new Palm Beach.

Ultra-wealthy billionaires are scooping up beachfront mega-mansions in record numbers, building a quiet empire of wealth along the Gulf Coast. 

With pristine beaches, no state income tax, and old-world charm, Naples has become a paradise for deep-pocketed investors, financiers, and real estate tycoons.

The city was named the ‘preferred retirement spot for the rich, powerful and cold-averse’ in 2024 by US News & World Report, which crowned it the No. 1 place to live in America.

Now, it’s referred to as the Palm Beach of the Gulf Coast.

‘The whole world is your oyster right here,’ Naples luxury estate realtor Angela Lutzi Dellatorè told the Daily Mail. ‘It’s a very culturally interesting place, but it’s also very under the radar.’

Judge Judy Sheindlin, Papa John’s founder John Schnatter, Best Buy founder Richard Schulze, and Jason Bourne author Robert Ludlum all call Naples home. 

One standout deal: an $85 million newly built mansion originally designed for a private owner was recently bought by billionaire businessman David Hoffmann. 

That sale wasn’t even the highest on record. 

In an off-market deal, another mega-mansion – a 15-acre compound containing three separate beachfront estates – sold for $225 million, according to Zillow. It was Florida’s most expensive home sale ever. Take that Palm Beach.

Last year, another stunning nine-acre compound listed for $295 million.

‘It’s turned into billionaire’s row,’ says Naples luxury realtor PJ Smith. 

‘It’s a quiet enclave of luxury living. The famous, uber-wealthy live in Naples under the radar and they love it.’ 

Naples is home to the most prestigious, exclusive neighborhoods, like Port Royal, known for waterfront mega-mansions with private beach access and private docks ideal for yacht owners. 

Other top neighborhoods like Park Shore, Pelican Bay, and Grey Oaks offer waterfront living, championship golf courses, private beach clubs, and resort-style amenities that cater to affluent tastes.

It’s known for its world-class amenities and the chill lifestyle.

Residents enjoy access to gourmet dining, upscale shopping districts like Fifth Avenue South and Mercato, cultural venues, and luxury recreational activities including golf, tennis, pickleball, boating, and pristine beaches. 

The city’s vibrant social scene and cultural offerings provide a sophisticated yet relaxed vibe.

Naples offers a wide range of high-end properties from grand estate homes with expansive outdoor living spaces and modern gourmet kitchens to luxury condos with stunning Gulf views.

The gated communities with exclusive access offer privacy and security. 

Low crime rates provide the safety that high-net-worth individuals seek. 

Tailored concierge services in Naples simplify life for wealthy residents by managing errands, event planning, wellness coordination, and securing exclusive access to top venues, allowing residents to fully enjoy the luxury lifestyle without stress.

Location and climate are also a big draw. 

Naples’ prime Gulf Coast location offers stunning beaches, year-round sunshine, and a temperate climate that supports an active outdoor lifestyle, highly valued by affluent retirees and second-home owners.

Naples boasts a famously happy population, coming in first place on the Gallup Well-Being Index.

It consistently ranks high on various lists of where to retire, happiest place to live, best golf and best boating in the US. 

It also happens to be the Pickleball Capital of the World, with 64 courts scattered around the city.

‘The reason that people are drawn to this area has so much to do with the downtown area being right by the waterside – there’s so many little inlets to boat to,’ Dellatorè, who owns her own firm, says.

‘Boat slightly north and you have restaurants and shopping and museums and there’s a fine arts center that has Broadway plays. It’s a very culturally interesting place.’

Wealthy residents have access to a private airport that can whisk them off to New York or Europe with no hassle.

There are ferries that go down to the Florida Keys (or you can take your own boat – as many of the locals do) and you can’t drive far before you hit one of the area’s world class golf clubs.

There’s a Ritz-Carlton in Naples, and another luxury hotel is being built just north of the city and will feature fine-dining options.

Dellatorè explains that Naples is a place where billionaires can ditch the boardroom suits and go out to lunch in flip-flops and shorts.

‘There are so many wealthy people that live here and they choose Naples because nobody pays attention,’ she told the Daily Mail. ‘It’s a very casual atmosphere.’ 

If someone is in the mood to show off their wealth, there are select members-only country clubs and high-end car dealerships nearby. 

The Artis–Naples performance Center is the hotspot for shows and home to the Naples Philharmonic.

Naples has also been certified as a ‘Blue Zone’ – one of the regions around the world known for having a high concentration of centenarians.

These geographic areas have exceptionally high rates of people with healthy habits who live long, often beyond the age of 100. 

Researchers who have studied these regions have found residents share lifestyle choices that contribute to longevity, like a healthy diet, robust exercise regimens, social connections and a sense of purpose.

‘Naples has been very much involved in trying to help people understand how they can live a long and healthy life,’ Dellatorè said. 

Most of the local restaurants and one famous local store, Seed to Table, have committed to serving and selling vegetables and fruit that have not been treated with any chemicals, making for healthy eating for the community as a whole. 

Downtown is bustling, and the first luxury high-rise apartment building opened there recently. 

Ascent at Metropolitan Naples, where apartments overlook the Gulf of Mexico, celebrated with a grand opening for its wealthy buyers.

Naples also offers year-round beach access.

It has some of the best hospitals in the country and houses religious institutions for many denominations.

The city has plenty to do outside, with multiple parks and bike trails. There are yacht shows and food festivals all year round.

Due to all this, more and more mega-mansions are popping up, with helicopter pads as a standard amenity.

Meanwhile, while the ultra-rich continue to flock to certain parts of Florida, other areas are teetering on the edge of a housing crash.

Experts warn that the Miami housing market is on a knife-edge as spiraling numbers of homebuyers pull out of deals. 

It’s the latest area in the Sunshine State at risk of a crash.

Inventory is flooding the market, prices are being slashed, and sales are stalling – as the impact of President Donald Trump’s tariffs raise fears of a recession. 

‘April pending sales are way down and it will be even worse next month,’ said local Florida realtor Jeff Lichtenstein. 

In March, 18 percent of pending home sales in Miami fell through, according to Redfin. 

That gives the city the 20th-highest cancellation rate among the 50 largest US metropolitan areas.

‘The collapse in demand in Miami’s housing market is breathtaking,’ real estate analyst Nick Gerli, CEO of real estate analysis platform Reventure App, wrote on X.

‘Sales are down 50% from pandemic peak, and are 30 percent below the long-term average for March.’

But not for the billionaires.