Are you considering investing in commercial real estate in South Florida? If so, you will want to familiarize yourself with some of the top commercial real estate trends in the area. In this article, we will be going over some of the different trends that seem to be occurring in South Florida.
Top Trends For Commercial Real Estate In South Florida:
1. Foreign Dollars.
The fact is, foreign money keeps on flowing into the area. Not surprisingly, a lot of the investors willing to invest in Miami and south Florida have been international investors. There are plenty of different reasons why this could be the case. For one, it has excellent weather. Another reason is likely due to the favorable tax structures present in South Florida. Also, the amount of diversity in the area probably influences investors as well. All kinds of international investors have been pouring in all the way from Latin America to Europe. The influx of foreign capital and the urbanization of the area has led to a huge resurgence in the condo market.
2. Retail Is Booming.
Another huge trend that is occurring is retail. Retail happens to be absolutely booming in the marketplace. The good news is that this increase in retail investment and return is not expected to stop anytime soon. With all of the different International buzz about retail development in Miami, it has led to a significantly higher amount of demand in Miami and other parts of South Florida. Because of the increasing demand, developers have begun to realize that they need to increase the efficiency of the space that they have available. This combined with a lot of big box retailers downsizing due to the presence of E-Commerce and you have a lot of potential in the area. Because South Florida has a tremendous amount of tourism, the employment levels are fairly stable which further makes it such a great place to invest whether foreign or domestic. Before Buying or selling real estate, you need to know the value of the property
As you can see, there are two major trends that are occurring right now in the South Florida area. If you are considering or looking at investing in the area, you should do your research to see which areas are really booming. Location is key whenever you are trying to invest in any kind of commercial real estate. While certain areas might be booming, others might not be as investment worthy. Once you find and establish a good location, you will also want to check to see what the growth potential of it is like. Is the area going to be getting more and more development in the next few years? Is it more of a long term investment opportunity or do you see returns coming in almost immediately? These are some of the top questions that you should answer before you decide whether or not to invest in anything. Also, keep an eye on the International investing as it could have huge impacts on the growth potential of certain areas.