Florida property dominates the 20 best places to invest this year according to the Forbes 2016 Best Buy Cities. The economic recovery, strong population and job growth, and prices still below value all bring Florida to the top of the 2016 US property investment list. Here, BRIC Group details why Forbes believes the Sunshine State represents excellent investment value and where the Florida property hotspots are.
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.
Southwest Florida is experiencing a boom on all fronts – thousands of jobs are being created, tourists are flocking to the area and property prices are seeing double-digit rises. Analysts point to an excellent 2016 for this part of Florida, as this latest BRIC Group news article explains.
2016 looks set to be a key year for Tampa property after a big increase in interest from both American and foreign buyers. Reasons behind Tampa’s rising popularity include more direct flights, better prices for property and the area’s high standard of living. This latest news article from BRIC Group explains why the spotlight is currently shining on property in Tampa.
A recent opinion poll finds that Florida is the state most Americans would like to live in. The Sunshine State tops the survey across almost all generations and two Florida cities also make the nation’s top 10 preferred cities.
As well as its year-round sunshine, theme parks and long beaches, Florida is famous for its favourable business climate. In this year’s ranking, the Sunshine State rises from fifth to fourth position to become one of the top five best proving that the Florida Business Climate stands out among the rest.
The Florida property market continued its path to full recovery during the third quarter of this year. Sales and median prices rose across the board while inventory listings and supply fell, indicating the new property reality – Florida is moving towards a seller’s market.
A recent report into the US property market faces 3 Florida metro areas in the top five hottest spots for property investment. Orlando, Fort Lauderdale and Palm Beach County dominate the listings compiled for this autumn. Other Florida metros such as Miami, Tampa and Jacksonville also rank in the top 20.
Yet again Florida ranks as the top state for international buyers. One of four foreigners buying US property chose the Sunshine State. Apartments were the preferred type of Florida property for the international investor.
Latest figures for Florida property show a market that is continuing to forge ahead. The month of August saw more sales, higher median prices for both single family homes and townhouse/condo properties in Florida and a drop in supply at the lower end of the market.
Tampa Bay property turns out to be one of the best deals in the US when it comes to beachfront homes. The coastal location of Port Richey offers the cheapest waterfront property in the entire country, but this may not last for long because sales and prices of single family homes rose significantly in June.
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.
June figures for property in Florida show more sales, higher prices and lower supply as the Sunshine State continues to attract new residents. The market for single family homes in Florida is particularly buoyant with two-digit price rises and booming sales.
More buyers, increased sales and higher prices are set to characterise the US property market for the rest of this year. With the job market booming and the US economy growing, experts predict the housing shortage will continue at least until 2017.
The US remains attractive to worldwide investors who spent more than ever on property there last year. Florida property continues to appeal to most foreign buyers who show an overwhelming preference for single family homes in suburban areas.
May figures for property in Florida show a market with rising indices. Sales and median prices have both increased in what experts are describing as a robust market. The only decreases can be found in inventory levels, now declining across the board, a situation that is expected to herald further rapid price rises.
