When it comes to one of the hottest real estate markets in the US, the sunshine state, Florida, certainly has it. Well, it’s not just the residential real estate market here, according to Florida commercial real estate news, more and more commercial investments are being made here.
Yes, commercial real estate is indeed riskier than residential real estate. But when you invest in the right place, the former turns out to be tremendously rewarding than the latter. And Florida is believed to be a heaven for commercial real estate investors.
Wondering what makes Florida a fertile commercial estate? Then read on.
The state of Florida provides rather favorable economic conditions due to the constant flow of venture capital and steady job growth.
While considering the Fiscal Stability Florida ranks #2, the liquidity score of Florida is 5.8 which is basically 2x more than the national average of 2.5. Even the per $1K GDP here is $17.8, which is again more than 2.5x of the national average of $6.77/$1K GDP.
The booming economy of Florida plays an important role in ensuring financial stability and increasing the employment rate.
Since 2010, the unemployment rate has witnessed a steady decline. Ranking #5 in the fastest-growing workforce sector i.e. the high-tech employment in the country, Florida provides the perfect landscape for modern employment.
The increase in the population number of an area shows how much the people trust the particular region. The better the quality of life, job opportunities, economic growth, and availability of multiple facilities of a region, the greater the population growth there.
Having 21 million residents, Florida is the third most populous state. In 2017, the population growth of Florida was second in the US, right after Texas.
Another major factor that makes Florida a desirable location for commercial real estate investment is the fact that the tax rates here are extremely flexible. It is one of the seven states that have no personal income tax which helps to reduce the tax burden of entrepreneurs and investors investing here.
When you hire a realtor with a commercial real estate license in Florida, you get to know about the latest and best tax deductions and relaxations possible in a particular property or region.
What do you think the constantly dropping vacancy rate of commercial properties across the state means? Well, it simply means that the demand for commercial real estate in Florida is healthy and growing.
Take commercial property for sale in Orlando Florida for example where the office vacancy rate is 10.7% that is lowest ever since 2007. Even the office vacancy rate at Jacksonville is below 10%. It clearly shows the growing demand for commercial retail space in these regions of Florida.
Be it the climate, the lifestyle, or the education, the quality of life that Florida offers is another reason why more and more investors come here looking for residential and commercial real estate for sale.
Being one of the sunniest states in the US, Florida attracts people all year round to live here, and spend their quality time here. Even the great outdoor settings and picturesque beaches invite both tourists and residents to enjoy a better life here. Being a home to some of the best education hubs in the country, Florida becomes an ideal place for starting a family.
A state that offers excellent infrastructure and communication facilities, traveling and transporting from one place to another easier. Florida offering multifaceted transportation and connectivity lines, the state becomes all the more ideal for commercial investment. Be it airports, highways, seaports, railways, Florida pr0oviodes them all, making both international and domestic travel easily available.
According to the US News & World Report, Florida ranks #14 among the Best States for Infrastructure, #7 in Transportation, and #20 in offering the best Energy Infrastructure.
Foreign investments arriving from all around the world heavily influence the commercial real estate market in Florida. The multiple direct and non-stop flights that Florida offers from Asia, South America, Israel, Turkey works in favor of developing a stable and strong commercial real estate market here. The growing inflow of foreign capital in the commercial estate in Florida clearly shows how promising the CRE market here is.
Do you know that Florida has secured the 17th rank in World Economies?
Well, compared to the other countries and states in the world, Florida shines as an autonomous entity whose GDP is higher than many countries like Switzerland, Netherland, Poland, Indonesia, Turkey, and Saudi Arabia. In 2018, the GDP of this sunshine state simply topped over $1 trillion.
Are you ready to invest in the commercial real estate market in Florida? Then why not take the help of industry professionals who can quickly find you the best commercial property deals!
Whether it’s commercial relocation or commercial buying or selling, with us, 1st Source, you get the necessary assistance at every step. Even if you’re new to Florida and clueless about how to find the best commercial real estate for sale near me, simply connect with us. With the help of our detailed strategy, you get to seal the most amazing deals effortlessly.