Jennifer Lopez and Alex Rodriguez's purchase of a waterfront home in Miami could help boost property prices in the area.

The 51-year-old singer and Alex, 45, have acquired a $40 million estate on Star Island, and locals are apparently welcoming their arrival with open arms, as the couple could help to inflate the housing market.

Some residents believe that the loved-up duo will send prices soaring in the area thanks to the publicity generated by their high-profile relationship, TMZ reports.

By contrast, a number of big-name stars - including the likes of ROSIE O'DONNELL and basketball legend Shaquille O'Neal - have sold their homes and moved away from the area in recent years.

Meanwhile, Jennifer has admitted to being ''a little heartbroken'' that they've been forced to change their wedding plans due to the coronavirus pandemic.

However, the singer - who announced her engagement to Alex in March last year - remains hopeful that their revised wedding will be even better than their original plan.

Jennifer - who performed during the Super Bowl halftime show earlier this year - said: ''I'm a little heartbroken because we did have some great plans but I'm also like, you know what? God has a bigger plan so we just have to wait and see. Maybe it's going to be better. I have to believe that it will be.

''There's no planning right now. You just have to kind of wait and see how this all plays out.

''It's disappointing on one level, you know, after the Super Bowl and after filming 'World of Dance' ... I planned to take time off, which is what we're doing kind of right now, but at the same time, you know, we had a lot of plans for this summer and this year but, everything's kinda on hold right now.''