Florida is a sunny state with great chances for real estate investors from all over the world. It is the most populous location in the southeast, which ranks third in the country.
According to the Bureau of Economic Analysis, population growth is accelerating thanks to a sustainable economy, which is the fourth-largest GDP in the country. Such a large population ensures that there will be a constant influx of tenants to invest in the local housing stock.
Florida.RealEstate shares information about the main reasons for investing in housing in the "Sunny State".
Who Buys Real Estate In Florida And Why?
Although tourism plays a significant role in the economy, aerospace, international trade, government, military, healthcare, and international banking are also the leading industries in the state.
Florida is one of the largest export states of the USA and the main gateway for trade in goods between North America, Latin America, the Caribbean, and other regions of the world. Florida accounts for almost 17% of all US exports to Latin America and the Caribbean.
Given the convenient geographical location, most enterprises are located within a short drive from one of the four main cargo ports. Such access allows even small companies to export abroad.
The state is home to several Fortune 500 corporations, such as World Fuel Services, Publix Super Markets, Auto Nation, Office Depot, Hertz, Fidelity National Financial, and Lennar Corp.
Thanks to the variety of industries that support the local economy, this further enhances the desire of workers to live and work here. These factors create a high demand for rented properties and increase rental rates.
Investors are looking for local property to get a large return on investment based on a sustainable and growing economy. Although the state offers huge investment opportunities, the most popular options are major metros such as Jacksonville, Orlando, Miami, St. Petersburg, and Tampa.
Sought-after Cities In Florida
Some of the largest and most well-known cities in the state include:
1. Jacksonville. It is the most populous city in the U.S. state of Florida and the twelfth most populous city in the United States of America.
2. Orlando. It is the fourth-largest city in the state and the sixth-largest metropolis in the southern United States. Orlando is known as the world capital of theme parks, attractions, parks, conferences, and conventions.
3. Tampa. It is the third-largest city, the administrative center of Hillsborough County, located in the west of the peninsula, on the coast of Tampa Bay.
Although each of these cities has its unique economy, they play a major role in fueling the huge economy that drives the state. A strong economy increases the number of jobs, which is one of the most important factors influencing investment in housing and real estate.
5 "Yes" For Investing In Housing Stock In Florida
A stable economy: The tourism sector favors the state to profit. Various industries, science, and research are also developed here. All this ensures the growth of infrastructure and makes life better and more comfortable.
An excellent choice of real estate: Florida is not only Miami, with luxury villas on the coast. The sunny state has plenty of interesting locations where overseas investors can pick up real estate for any taste and budget.
Affordable prices: The local market offers customers a variety of properties for only a few hundred thousand dollars. South Florida has the highest prices, but they are lower than in New York or California. There is something to compare. Off-plan projects by local developers are especially beneficial for investors because real estate is put up for sale at a big discount. By investing money in off-plan housing, you can get a substantial profit.
Capitalization of value: Investing in local properties can be considered as a long-term investment strategy. Housing in sought-after locations is getting more expensive every year and never gets cheaper, which makes it possible to make a significant profit from its resale.
Successful liquidity: Demand for high-quality residential properties is consistently high among locals, overseas investors, and entrepreneurs. This favors them to quickly and profitably resell homes at more expensive prices.
Choose An Attractive Investment Property In Florida
Are you going to invest in local real estate? Discover a broad range of the best properties of the "Sunny State" at prices from the owners and trustworthy developers.
The cost of property in Hollywood, Miami, and other cities is available in Florida.RealEstate.
The housing market is replete with profitable deals. Now is the right time for you to get the benefits of buying a property in the sunny state. Check out the ads on the website to pick up the most beneficial properties.
In the catalog, you will find excellent villas, penthouses, and apartments, as well as off-plan projects in popular areas.