The Sunshine State lived up to its name during the first quarter of this year and more than reaped the rewards in terms of tourism. Florida’s warm and sunny weather from January to March drew record numbers of visitors to the state, which is well on track to achieving its aim of attracting over 100 million tourists by December.
The recent 86th edition of Latin America’s largest construction event brought further optimism to the sector in Brazil, one of the largest in the country and an important engine behind the nation’s economic growth.
Caixa Economica Federal, one of Brazil’s largest banks and the biggest mortgage lender in the country, has just held its annual Own Home Fair in seven of Brazil’s regional capitals. With over 150,000 units on show at the exhibition, this tenth edition of the Fair saw record levels of business in Fortaleza, Northeast Brazil.
House prices for single family homes in Houston recently hit an all-time high as the property market in the city continues to show an imbalance of demand and supply. Real estate experts expect this situation to continue for the immediate future meaning that for many families, the only solution is to rent a property.
The state of Florida is leading the way for the US employment market in 2014. Recent figures show that job creation in this part of the country is the highest in the nation. They also reflect the current positive state of the economy in Florida.
The latest annual review of Brazilian property has just been published and its findings confirm that the market for new builds continues to strengthen. Furthermore, the report highlights Northeast Brazil as one of the fastest growing areas in the country.
The news that Sarasota has no less than 24 construction projects in the pipeline confirms that the Florida housing market is once again surging ahead. It’s nearly ten years since Sarasota experienced construction potential on this scale and the news was warmly received by the city’s business community.
Brazil’s north east is catching up with its more prosperous southern counterpart. Northeast Brazil has been Brazil’s economic superstar over the last decade. The region’s GDP between 2000 and 2010 was an average 4.2% per annum, higher growth than in the rest of the country.
The U.S job market looks set to swing into action in 2014. Forecasts for Florida in particular show a positive trend in 2014, with estimates of adding around 176,000 new jobs to the state’s economy, with a particular concentration in the construction sector. Such job creation should help stimulate Florida’s economy through increased wages and confidence in the local market.
Florida breathed a sigh of relief in early March when the U.S House of Representatives passed a bill allowing sellers to pass their below market insurance rates on to new buyers. This development has relieved the real estate market in Florida
The Brazilian labour market continues to be buoyant with the unemployment rate reaching a record low of 4.3% at the end of 2013. This downward trend continued into January 2014 where unemployment was lower than economist estimates, as surveyed by Bloomberg.
Investors are having a ball in Florida at the moment as property sales and prices continue to skyrocket. Real estate values in Florida are rising faster than the national average, attracting investors and buyers from all over the USA and abroad.
The Brazilian housing market remains strong with steady house price increases. The final quarter of 2013 saw house prices rise by 3.5% from the previous quarter with all major Brazilian cities benefitting from increased property values. Brazil continues to hold its position as a hot property location for real estate investors.
Brazil’s real estate market is one worth watching. In 2012 and 2013, Brazil welcomed two record-breaking years in real estate lending, reaching an all-time high of R$109.2 billion in 2013, according to the Brazilian Association of Mortgage and Building Lenders. With this positive trend set to continue throughout 2014, a property venture in Brazil could provide a healthy return on your investment.