February 10, 2016
With prices on the rise and wages holding steady, first-time home buyers may have a harder time jumping into the real estate market in 2016. However, those looking to buy potential rental properties will see these changes as signs of continued strength in the investment market. In a recent study, Fort Lauderdale was named the 8th best city in the United States to invest in this year.
The study, done by Local Market Monitor, screened the 100 most populous Metropolitan Area and Divisions for certain characteristics that create conditions for good investment potential. Some of these characteristics include job growth, anticipated home price appreciation and healthy population growth. Out of the top 20 U.S. cities for investment, Fort Lauderdale came in at number 8. The state of Florida boasted 7 cities on the list - more than any other state.
Florida naturally attracts second-home buyers, investors and retirees.
“Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered,” stated Ingo Winzer, founder and president of Local Market Monitor.
As buyers return to Florida, they need services and create jobs - last year, the state added 250,000 jobs. This leads to more potential renters. Fort Lauderdale has seen tremendous growth recently, with many new condo developments rivaling and beating the amenities and luxuries most commonly associated with the Miami real estate market. The economy is booming, and the city has become the new "hot spot" in South Florida.
For the most comprehensive and up-to-date information on the Fort Lauderdale real estate market, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: Forbes
