When searching for the strongest commercial real estate markets in the US, you can’t ignore South Florida. Supported by tax-friendly laws and strong population growth, the market promises solid returns and offers robust security for domestic and global investors’ capital. The region’s attractive real estate properties, combined with diverse cultural offerings, make it an active and enticing real estate market. Not to forget the tourism value of the region.
If you still have suspicions, consider why the area is experiencing continual growth from global investors in Saudi Arabia, China, Qatar, Singapore, and Canada. Read on to study more reasons to invest in South Florida Commercial real estate:
Superior Quality of Life
Often referred to as the Sunshine State, Florida is among the most desirable places in the US due to its sunny climate, pristine beaches, and other outdoor settings. People love spending time there, engage in sporting activities and shopping, and spend large sums of money earned all year round.
On top of that, Florida is also recognized as one of the best states to conduct business. Some of the factors that make the state a business hub include rapid growth of working professionals, average salary, and GDP.
Keeping these facts in mind, you have a lot of lucrative commercial real estate options in shopping centers, restaurants, and hotels.
Rapidly Growing Florida Retail Market
You’ll be interested in knowing that the retail growth in South Florida has been quite explosive in the past few years, especially in Miami. In 2015, employment in Broward County’s hospitality sector saw an all-time high growth rate of 5%. In addition, a 4% growth rate was recorded in Palm Beach Between July 2017 and 2018, compared to the national average of 1.6%.
These trends prove how dedicated people are to spend their hard-earned money in South Florida stores, making the retail sector a lucrative area for commercial real estate investment.
Connectivity and Infrastructure
Transportation and infrastructure are the keys to business growth. South Florida’s fast-growing population, tourists, and businesses are supported by a multifaceted transportation and connectivity system. People have convenient access to highways, airports, railways, seaports, and spaceports for domestic and international travel. According to US News and World Report, Florida is the 14th best state for infrastructure, giving you another reason to invest in its retail real estate market.