When it comes to property investment, the Sunshine State is a destination that ticks all the boxes. Discover 10 reasons why you should invest in Florida.
After a busy 2017, it’s more of the same for the Florida property market in 2018 with February marking up the 74th consecutive month of median house price rises in the state.
US housing demand is already strong and a recent article by a leading analyst of the US property market expects it to soar. This pent-up demand will lead to even higher prices and buoyant sales. And the southern states such as Florida and Texas are set to benefit hugely.
While the US as a whole has failed to fulfil expectations this year, the Florida economy has surged ahead both in economic growth and job creation. Analysts believe this tendency is set to continue throughout 2017, an opinion reflected in the very positive potential seen by local businesses in Florida.
Strong employment, 66 million Americans aged 20 to 34 and low vacancy rates mean an excellent outlook for rental properties in the US.
With Florida motoring ahead of the US economy, it’s obvious that the Sunshine State has left the recession well behind. And within Florida, the Tampa-St Petersburg-Clearwater MSA stands out for exceptionally positive figures. As a result, the Tampa Bay property market hasn’t had it so good for years.
The Florida economy experienced an excellent 2015 and all predictions point to a very sunny year over the next 12 months. As this BRIC Group news article reports, economic growth and job creation in tandem with a recovered property market and increased wealth mean residents in Florida will have plenty to celebrate in 2016.
The Florida city of Jacksonville has become one of the employment hotspots not only in the Sunshine State but in the US as a whole. Creating thousands of new jobs, particularly in the technological sectors and attracting multinationals, the city is also registering some of the highest increases in prices for property in Florida.
Yet again, Florida ranks among the best states to do business in the US according to the annual Chief Executive magazine survey. Florida came second in the nationwide ranking and stands poised to take the top spot from Texas to become the best place in the US to do business.