The South Florida region provides a diverse group of real estate markets which attract the interest of both international and local investors, entrepreneurs, retirees, and workers across the United States. This region runs from the upper region of Palm Beach County to Florida Keys and features a variety of exciting communities you can invest in. However, when choosing an investment market in South Florida, it’s wise to consult the experts.
If you intend to make a real estate investment in South Florida, here are the best markets for such investments.
The rental price is high in most South Florida cities, and the home value has been at an average for the last few years. However, home prices are expected to rise steadily in the next few years. This implies that it’s the perfect time for real estate investors to make their dream investments.
It’s important to know that Fort Lauderdale has been the top region in South Florida when it comes to employment creation. Thus, it’s expected that many people are likely to be seeking long-term jobs in this region, hence, increasing the demand for residential property.
Experts say that gut feeling and statistical analysis contribute to a good real estate investment. In Jacksonville, the prices of homes grow by 9% yearly. Besides, this area experiences a population growth of 5.1% yearly and the job creation rate increases by 4.1% every year. These numbers clearly imply one thing- Jacksonville is one of the fastest-growing cities in South Florida and making real estate investments may be one of your best investment options.
Hollywood and Hallandale Beach
Hollywood and Hallandale cities have more affordable properties than Miami and Fort Lauderdale. These two cities have experienced significant development over the last few decades. That means real estate is highly demanded. Any investor wouldn’t want to miss such an investment opportunity.
Coral Gables is also known as the ‘City Beautiful.’ It’s an area that attracts innovators and pioneers from different parts of the United States. Coral Gables is also a haven for rich international residents and bankers. The area is also home to Miracle Mile, the popular Baltimore Hotel, University of Miami, and Cocowalk. When compared with Miami Beach, Coral Gables is a more refined leafy area with estates and a popular business district. All these facts make Coral Gables a perfect real estate investment market.
Doral City has an increasingly growing population and low unemployment rate. The city attracts both local and foreign investors. The value of homes and other types of property in Doral is higher than other cities in South Florida, and this trend is likely to progress within the next few years. This makes Doral an excellent real estate investment market for potential investors.
South Florida has many areas with well-performing real estate markets. Most cities and neighbourhoods are being redeveloped with high quality but affordable properties. If you’re seeking safe real estate investments to protect and grow your wealth, then, the list of areas discussed in this article are a perfect start.