Why Investors Are Loving The Florida Real Estate Market in 2016
Since the beginning of the great recession, nationwide reliable surveys have revealed that housing prices within Florida are on an uninterrupted march upward after having fallen drastically earlier and discouraging those who wanted to be homeowners. The following are some of the cities that one should look if they are interested in getting a home of their own in Florida and the reasons why investors are very much attracted to this region.
Doral is relatively affordable attracting most investors to Florida for real estate. Furthermore, the area has low unemployment rate of 4.4% and a steady population growth. In the period of 2010 to 2013 it attracted approximately six thousand new residents.
- Hialeah Gardens
If you are aiming at buying a house and selling it later at a profit then the following communities will help you get a speedy deal in terms of selling. Hialeah garden leads the way with a health score of 9.55 with 10 being the highest score in terms of speedy sales. Lauderdale and Atlantis are also some other areas that one can seal a speedy deal in Florida. Hialeah Gardens has a population of 22,200 and most buyers who are willing to buy and sell later will find a wide variety of options to flip housing.
- Miami- Fort Lauderdale
The strategic placement of a region especially if it is closer to a beach really attracts investors buying in Miami & Jacksonville since it offers beachfront bonuses. With Miami as the focus Of Fort Lauderdale metro area, its strategic location makes it dominate the top 10 list of house investment market since 8 out of every possible ten investments are located in this area just because of the beach fronts. 57 percent of the housing fronts within Miami have increased in prices over the recent 10 years. Vacancies on the other hand dropped to 3.6% in the same period.
Though the housing prices in almost half of the houses have increased over the recent 10 years, housing prices remain cheaper as compared to other parts of Florida. The major driving force here for most investors in real estate here is affordability of the housing systems, which have averaged to $79.42 for every square foot for the most affordable housing.
- Bal Harbor
Even with low population of less than 2,700 people which has affected the prices of houses within this area making it the most expensive location within top 10 cities with a mean sales price of 340 USD per square foot. The buyers in this area have not been discouraged at all with Bal scoring a massive 8.66 health score on speed of sale.
Marianna is attracting a large number of new residents due to their low pricing for homes per square foot of $61. The population herein has also increased by 28% in the period of 2m010 to 2013.
Other cities attracting investors include Cape Coral, Pine crest, Aventura and Winter Garden. With each passing day, investors continue to stream in to Florida hoping to get a share of its real estate market. With the above reasons, it is easy to understand why. Signs are that this trend is nowhere near stopping.