January 15, 2018
Fort Lauderdale’s local economy has continued to grow, and with it, so has the interest in the Fort Lauderdale real estate market. Right now, investor demand and capital availability are set to increase next year, new businesses are opening and job opportunities are on the rise.
What’s the cause of this phenomenal rise in Fort Lauderdale’s real estate market? Fort Lauderdale has long held the reputation of being the yachting capital of the world and a very popular tourist destination for affluent travelers. In addition, Fort Lauderdale is quickly becoming a destination for year-round luxury living.
“We’ve seen major developers that have typically done work in Miami and New York shifting their focus to the Fort Lauderdale market, including projects as notable as the Four Seasons,” says Jay Phillip Parker, CEO of Douglas Elliman’s Florida Brokerage. “They have recognized the need and opportunity to develop the product type that is commensurate with the discerning demand and expectations of a global traveler and buyer.”
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Source: Elliman Insider
