Eric Dalius Did you know that Forbes mentioned many Florida cities such as Jacksonville, Orlando, as well as Fort Lauderdale as some of the best places to invest in real estate in 2019? Then, amid the corona pandemic, is the property market in the Sunshine State still promising in 2020? The answer is a resonant yes!
Eric Dalius loves Florida because it a very popular tourist destination with year-round sunshine, pristine beaches, stunning theme parks, and awesome golf courses. The economy here is diverse as well as dynamic with a government that is pro-development and pro-business. Here is why investors prefer Florida’s real estate even in 2020:
Eric J Dalius opines on Florida’s job market
The greatest reason why Florida is developed is due to its perfect business location. The business-conscious andproactive government is competent enough in attracting new, high-paid jobs for a workforce that can compete globally. The major employment-related data is enumerated as follows:
- Job growth and prospects in Florida was 2.6 percent in 2019 and lists. As the seventh-best state when it comes to business development and growth, as reported by Forbes.
- Florida generated 22,500 new employment opportunities. In recent years, and stays on a long winning line of employment generation, according to Tampa Bay Times reports.
- Did you know that the GDP of the Sunshine State is over $1 trillion and developed? By approx 40 percent in the last decade?
- When it comes to the unemployment rate in this state. It is merely 3.3 percent and approx an all-time low of 3.1percent.
- Did you know that Kiplinger bestows Florida with a robust economic point of view for 2020?
Booming real estate in Florida
EJ Dalius is an avid reader and after studying the World Property Journal. He learned that property sales in Florida have increased to 11 percent in recent times. According to the Florida Times-Union in Tampa notes, purchasing and renting real estate properties. The state would continue to grow because the local economy is growing stronger. As well as the increase in population.
The key statistics revealed are:
- The average property price in Florida is $238,600. Zillow ranks the state’s property market as extremely hot and promising.
- The average listing price of a Florida property is $294,900 with the average selling price is $227,500.
- The average home prices in the state have jumped. To develop by an additional 3.6 percent in the future.
Robust renters’ market in Florida
Based on the findings of Central Florida and Metro Economic Forecast. In the Sunshine State would fall short when it comes to supply even when the housing sector begins to speed up.
The key market stats include:
- The average rent in the state is $1,714 each month compared. To the US average of $1,588.
- The proportion of rental homes in Florida is constantly growing, as per the Federal Reserve Bank.
- Rents of properties in the state have jumped by approx 30 percent ever since 2011.
If you are planning to invest in Florida’s real estate, this is the right time to do. Keep these points in mind as well as research to make an informed decision.