You are decided buying property in Florida? Do it now, it’s predicted by market analysts that prices are going up for the next few years.
Investments in single-family rental residences have a great future in Broward County. If you are looking for Real Estate investment in Florida and that in apartment developments we suggest in Miami-Dade. And for commercial investment best bets for investments in retail or restaurants are in Palm Beach County.
With a large number of second homes and condos, South Florida is very much potential to boom plus an expanding Latino population and the baby-boomers and retiring population every year, your investment would be secure in long term. Demand for Florida housing is always growing, but what about supply?
The number of second homes increases as you head north from Miami, to Palm Beach County. This large pool of empty houses is the swing vote in determining home prices.
There are strong indicators to make us believe that from here on we are looking at prices to increase higher than they should, mainly in Broward County , let’s put it this way, a mini-boom that may happen after a few years. If you’re looking to buying property in Florida for the long-term, it’s recommendable to do it now. If you’re looking for a short-term investment, you need to be more cautious.
Because rents grow better than home prices during the downturn, purchasing a property to rent out is an attractive option despite the recent rise in prices. Nearly half of households in Miami are renters. With most the new healthcare and retail jobs paying low salaries, the request for rent may increase. In urban areas it makes sense to purchase a single-family house and split it into rental units. Apartment are a recommendable option in Miami for Real Estate investment in Florida.
Population growth is at an uneven pace, in Miami it’s slow and faster as you move towards coast. Over the next four years 11 percent increase in housing needs is expected in Palm Beach County.
The condition for investments in retail businesses and restaurants is best bet in Palm Beach County, where demand has grown faster than few years back and average income is mostly higher that elsewhere in Florida. All three counties, but mainly Palm Beach would be in need of office space for the growing number of healthcare industry employees.
Don’t wait, contact Jean Deglon, your super real estate agent in Florida. Jean@FloridaInv.com
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