Looking to invest in Real Estate: The top 5 cities in Florida
The goal of every real estate investor is to buy prime real estate where money gains will be easier and rental returns almost guaranteed. But, as with any investment, the danger of loss is real and timing is everything. Florida housing prices, which hit a peak in December 2006, are slowly and gradually recovering after the Great Recession nosedive — the state’s fall was among the harshest in the nation — but lately, the trend is positive, stoking renewed interest in real estate.
According to the S & P / Case-Shiller index, considered one of the most reliable indicators of market trends of local real estate, real estate prices in the Miami area have been in uninterrupted march upward from November 2011. Recently, in Lauderdale-by-the-sea, a community north of Fort Lauderdale, buyers camped out overnight for the chance to seize new condos selling for $ 500,000 to $ 1 million.
Investors will find real estate prices vary greatly across Florida. In NerdWallet’s study of 227 areas, the cheapest median sale price used to be $37.36 per square foot in Kenneth metropolis in Pinellas County. The most expensive was Key Biscayne at $546.77 per square foot, a variance of above $500.
So which cities in Florida offer the best for real estate investment?
#1 Miami, Florida
With regards to world-class amenities and delicate feature draws, there are couple of urban communities in the U.S. that can contend with Miami. The bigger Dade County territory all in all speaks to everything that is pleasant Florida, from the unequaled sunny shorelines to the year round warm climate. Be that as it may, Miami itself packs on significantly more than characteristic excellence, with an unimaginably vibrant art and music scene, and world-class sports groups.
Notwithstanding all these delicate elements that make Miami a profoundly alluring real estate market, its nearness to Latin America has made the city a particularly blasting business sector for international investors. Considered the "entryway to the Caribbean," Miami has a cosmopolitan character formed by its extensive Latin American populace that pulls in investors to the area, and draws investors from Western Europe and other foreign markets.
#2 Jacksonville, Florida
Contrasted with a considerable lot of Florida's other huge urban areas, Jacksonville is a lot calmer and does not have the gigantic herds of tourist guests. Yet, there are a lot of different reasons why Jacksonville is still a top global real estate investment destination. For one thing there's the warm winters and gentle atmosphere that make all of Florida an alluring spot to claim property, however Jacksonville's charms go past that.
As the biggest city in the Sunshine State, Jacksonville has an exceptionally diverse economy, driven partially by the way that it is home to the second biggest port on the East Coast. Jacksonville is a rail and interstate point of convergence too, making it a clamoring shipping center point for an assortment of commercial ventures. From finance, to manufacturing, to transport, Jacksonville has an energetic and expanded economy, making its real estate investment more steady than some of Florida's greater vacationer markets.
#3 Orlando, Florida
Known as the "Theme Park Capitol of the World", Orlando metro city is home to the biggest amusement park, Walt Disney World. General Orlando Resort, Universal Studios Florida, Sea World, Gatorland, and Wet n' Wild call Orlando home too, however there's something else to the city than simply amusement parks. Orlando is one of the top conventional destinations in the U.S., and conference goers help make Orlando's airplane terminal one of the country's most travelled.
#4 Tampa, Florida
Tampa has all the pure splendor of Miami, with a number of the most wonderful white sand beaches on this planet. It has the diversified and vivid economic climate of Jacksonville, evidenced by the fact that it had been just lately named the third best place in the state to find work. And even though it might not be as popular as international tourist hub, Orlando, it is still a hot place for regional tourists.
#5 Fort Lauderdale, Florida
More affordable, Fort Lauderdale real estate offers yields of up to 9%, driven by solid rental demand from Broward College students. Although tourism comes and goes with economic cycles, it is likely that the rental demand will continue to keep the college town a solid bet.