Florida’s Population Growth & its Effects for Real Estate Investors
To begin with, Florida’s commercial real estate market steady growth reflects the state’s population increase.
As a matter of fact, real estate investors have seen a steady increase in transactions.
Population growth and Florida real estate are closely intertwined. As a matter of fact, demographic explosion is a crucial factor driving the market. Demographics point to a great future in Florida. At the moment Florida is the third most populous state after California and Texas.
Between 2010 and 2019, its population increased by 2.7 million to 21.5 million. Florida’s population growth of 14.2% was much higher than the national average (6.3%). In addition, this is the second highest growth rate, after Texas.
The states’s high population growth combined with a smart tax structure has fueled economic growth, low unemployment and increased the need for housing, retail, office and warehouse space.
Florida’s Population Growth International Opportunities:
Additionally, Florida attracts retirees from all over the world looking for warm climate and tax incentives.
Between July 2010 and July 2019, Florida’s average annual population growth was 1.1% compared to the national average growth of 0.48%.
Real estate investing in Florida flourishes as the needs for housing, triple net properties, and commercial real estate grows with increasing migration and rising incomes. Therefore, a large field of opportunity is available here.
Florida attracts many foreign real estate investors and international property buyers.
The Miami-Palm Beach corridor offers an extensive market for investors looking for opportunities.
Another great areas are Jacksonville and Tampa both expanding rapidly and with great potential for investment.
As a matter of fact, the need for commercial warehouse space, multi family properties, housing and luxury condo units continues to grow.
Hence, savy investors find opportunities here now and position themselves for expanded growth in the future.
Finally, are you looking for a well-informed commercial realtor to help you make safe commercial real estate investment choices?
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