South Florida has always been an investor’s paradise. The vibrant sunny climate, amazing job sector and solid rental yield have altogether rendered a strong competitive edge to the real estate sector here. The recent surge in high end constructions is another major factor behind the increasing stress on investing in South Florida realty. In fact, according to market experts, 2017 seems to be a great year to invest in the Sunshine State real estate.
The post below notes down the major factors why you should consider investing in South Florida this year.
Rise in new constructions
According to sources, Miami-Dade witnessed around 36% rise in construction of new single-family residents in 2016. The same rosy picture is seen in other prominent parts of South Florida as well. It’s a great new for home buyers and investors who are looking to buy or invest in fresh properties.
More affordable waterfront luxury properties
Do you have this dream to own a stunning ocean-view property someday but worried about the pricey tag? Well, much to your delight, South Florida assures comparatively affordable gorgeous waterfront properties of late.
“A lot of developments in South Florida are happening on waterfront. Availability of more inventory has immediately plummeted the pricing of waterfront properties making them readily accessible for eager buyers”, stated the marketing head of paramount fort Lauderdale condos.
For example, in Fort Lauderdale, you will find majestic oceanfront condos starting from $1430 per sq.ft. These new highrises are equipped with all modern amenities like lush pool, spa center, fitness room, BBQ area, club house and so on.
Robust job market
South Florida features a robust job market which offers strong career opportunities for the young home buyers. According to reports, older millennials are the most prominent home buyers this year. They are in their mid-30s now and will definitely prefer to choose a locale that can promise them good job security. South Florida houses a large host of blue chip companies and hence is fast becoming the favorite neighborhood for the young home buyers today.
Great rental yield
Given its dynamic employment opportunities, South Florida is fast attracting talented job-seekers from the whole of USA and world. A good lot of them would be looking forward to rent places which means solid passive income for the real estate investors here. Moreover, South Florida is also the home to many esteemed universities and colleges. Migrated students are a common feature here and are one of the major reasons behind the high rental growth in South Florida. Besides, since South Florida is one of the best tourist hot-spots it promises excellent vacation rental opportunities for investors.
The most lucrative location for investment in South Florida is surely the grand and gorgeous Miami. But then, Miami is always on high price bracket with condos starting from $3,000 per sq.ft. If you need more affordable options, Fort Lauderdale would be a good place. Otherwise, you can even checkout Cutlet Bay, Aventura or Coral Gables.