Prices rise for vacant lots in South Florida

Demand for waterfront property in South Florida is so high that the price for vacant parcels of land is rising along with it, the South Florida Business Journal reported.

Available lots are not all snapped up, but they are getting scarcer. In Coral Gables, a vast and exclusive vacant lot at 20 Casuarina Concourse in Gables Estates has a $13.5 million asking price, the Business Journal said. The trend can be seen in Miami-Dade and Palm Beach counties.