Julio Iglesias, the singer who may be best known today for being the father of Enrique Iglesias, is also something of a real estate maven. Now, he's reportedly selling a small plot of land for a very large asking price: almost $32 million. What makes an empty lot that spreads over less than two acres so expensive? As with a lot of real estate prices, it all comes down to location, as this 1.8-acre lot is located in Miami's Indian Creek Village, better known as the "Billionaire Bunker" of Miami.
Indian Creek Village is a private island with only 41 properties, all of them located right on the water, with its own mayor and its own 24-hour security patrol, as per the lot's official listing. And according to a recent Miami Herald report on the listing, the property is one of four on the island owned by Iglesias, who previously tried to sell them all in one big batch in 2017 with a listed price of $150 million. After failing to find a buyer, Iglesias took the properties off the market the following year, and is evidently now trying to let go of them separately – and at an additional discount, since the combined lots were previously priced at $469 per square foot, while the newly listed separate lot is some 17 percent lower than that at $387.50 per square foot – which is another example of luxury real estate prices coming down as of late, even when the real estate in question is completely empty.
That means that, for now, this lot located at 4 Indian Creek Island Road is the only empty lot on Indian Creek Island Village available for sale, so if you're thinking of building your dream home there now might be a good time to act.
In any case, you can take a look at the $32 million empty lot in the video below from The Jills Zeder Group, which is handling the listing: