November 6, 2017
A new report from the PwC US and Urban Land Institute’s Emerging Trends in Real Estate ranks Fort Lauderdale as the sixth top city for real estate investing. Fort Lauderdale jumped 29 spots from the previous year to take it 's place among the elite investment cities in the United States. The report reviewed more than 1,600 real estate investors, fund managers, developers, property companies, lenders and brokers. The rankings were established by calculating a city's job growth, economy, and industries setting up shop in the area.
Fort Lauderdale’s booming population helped boost their rank this year. A quarter of the city's population is between ages 15 and 34, according to the report.
Fort Lauderdale received its highest scores for multifamily with an investment prospect score of 3.77, followed closely by industrial, which scored 3.64 on a scale of 1 to 5. Housing received a score of 3.56, followed by retail with 3.4 and office with 3.35. The experts who were surveyed took into account investor demand, capital availability, development opportunities, public/private investments and the local development community.
New condominium development in Fort Lauderdale includes the newly completed Paramount Fort Lauderdale Beach, which is expected to sell out for about $210 million. Miami also moved up from the previous year, ranking 11th from 25th.
Thinkning of investing? Contact award-winning broker, Niki Higgins today to discuss your real estate investment options.
Source: The Real Deal
