This section of the BRIC Group news covers the latest developments and news in Florida that are relevant to our investors. Here you will find articles about the economy, tourism and the property market in the Sunshine State generally. News about the economic situation cover GDP growth, median incomes and unemployment rates. Articles on tourism look at the latest visitor figures, the creation of tourism-related employment and changes in tourist tax collection. Florida property market news includes regular updates on house price rises, inventory levels and fluctuations in sales figures. This information, particularly monthly and quarterly property data, is generally sourced from Florida Realtors.
While many news articles examine the situation in the Sunshine State generally, others look at the particular metropolitan statistical areas relevant to our investment products. These include Orlando, Tampa, Jacksonville and Northport, the locations for turnkey properties. Other articles cover news for Sarasota and Charlotte County, the areas nearest Englewood, home to BRIC Group Florida land investment.
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Florida is continuing its best tourism year ever, welcoming another 31.6 million visitors during the third quarter of 2019. Also Florida is very present in the Best places to live and retire in the US rankings.
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Discover why Florida metros take the lion’s share of the best places to retire in the US and why Sarasota is one of the most popular metro areas of all.
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Florida is one of the world’s favourite destination not only for travelling but also for investing in property. Here is an overview of the real estate market and economy in the state in Quarter 3 of 2019. The Florida Realtors’ latest report shows new positive figures. They stated that more closed sales, higher median prices, more pending sales and rising pending inventory during the third quarter of 2019. Also, during those three months, more than 78,750 single-family homes were sold across Florida. This figure shows an increase of 8.1 percent from the same quarter of 2018.
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New figures show an increase on property value. In fact, home values have increased by 4.64% from 2018 in the same period. The forecast for home values in the US shows and increase of 2.2% over the next year. However Florida’s forecast is even more positive showing an increase of 4.09% over the next year.
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The economic forecast in Florida shows signs of economic growth specially in real estate. Sean Snaith, economist from University of Central Florida, expects the state economy to grow at a faster pace than the United States. The property market in Florida has always been stable and rising.
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Jacksonville is the largest city by population and area in the state of Florida. Home to 903,889 residents, it too has a growing population with a rise of 1.6 million expected by 2023.
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At BRIC, we partner with successful and reliable property management companies such as Compass Property Management Group, a full-service Property Management Company. Compass Property Management Group has been awarded 2019 Best of Jacksonville Award
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Florida tourism breaks yet another record with the highest Q1 figure ever. Find out why 2019 is set to be the best year ever for the Sunshine State.
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After a strong 2018, Florida land prices look set for a solid 2019 based on high demand and an increase of 14% in values over 4 years. Get all the facts.
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Florida vacation rental property ranks among the most profitable in the US. Find out which metros tick the best boxes and how much you can expect to make.