• Ср. Фев 8th, 2023

Florida: life in a year-round resort

Автор:admin

Янв 19, 2022
Florida: life in a year-round resort

The state of Florida is located on a peninsula of the same name between the Gulf of Mexico in the west and the Atlantic Ocean in the east, and is bordered by the Strait of Florida in the south. It borders the states of Alabama and Georgia to the north. Maritime borders extend along the entire peninsula. It is the third most populous US state after California and Texas.

Florida attracts people not only for its global fame, low taxes and good climate. Hundreds of global companies are headquartered in this state, so many people move here, including on duty. There is a low unemployment rate and favorable economic factors that affect the investment climate, including in the real estate sector.

Miami

According to the Almanac of Architecture and Design, Miami’s skyline is one of the top 3 most impressive views in the US after New York and Chicago. This legendary resort is located on the Atlantic coast of southeast Florida in Miami-Dade County, the most populated county in Florida. Miami is the second largest (after Jacksonville) city in the state and the largest metropolitan area in the southeastern United States. Also in it and the surrounding area is the largest concentration of international banks in the country. In addition, many large national and international companies are headquartered here. Miami is the premier television and music hub for Hispanic residents, who have lived here in large numbers for decades. This city also attracts many actors for filming music videos and movies.

Tallahassee

The capital of Florida is Tallahassee. As with most cities of its kind in America, the backbone of the local economy is the government sector, education, and health care. Due to the presence of the government and the state courts of appeals, the city is home to a large number of lawyers and lobbyists. There is practically no industry in the city, and citrus cultivation and logging are developed in the surrounding area. The city is also in demand in the field of tourism. Tallahassee Airport is located 7 km from its center, from where you can fly to Atlanta, Dallas, Washington, Miami, Tampa, etc. by regular flights. A federal highway and several express roads also pass through it.

Jacksonville

But the largest city in Florida is not its capital, but Jacksonville, which is located in the northeast of Florida on the banks of the St. Johns River, which flows into the Atlantic Ocean 30 km from the central part of the city. The city got its name in honor of Andrew Jackson, the first military governor of Florida, who later became the seventh president of the United States. In the early 20th century, the city became popular with filmmakers who were attracted by the warm climate, exotic scenery, proximity to the railroad, and cheap labor. Over a decade, more than 30 silent film studios settled in it, for which it was nicknamed the “winter capital of world cinema.” However, with the advent of Hollywood, the center of film production eventually moved there. Today, the city has a large seaport, and the US Navy has been one of the economic driving forces of the city and a major employer since World War II.

Tampa

This is the third largest city located in the state of Florida, which is located in the west of the peninsula on the coast of the bay of the same name. Many people know it thanks to the famous Busch Gardens amusement park and a huge aquarium.

Orlando

The fourth largest city in the state and the largest on the Florida peninsula, Orlando is known as the theme park capital of the world. Every year, its attractions, parks, conferences and conventions are visited by tens of millions of people. The city’s key location is Disney World, the largest and most popular entertainment center in the world. Due to this demand, Orlando International Airport is the thirteenth busiest airport in the United States and the 29th busiest in the world.

palm beach

A popular resort town with a population of 10,000, however, during the high season, the number of residents in it reaches 30,000 people. It is no coincidence that Palm Beach got its name, because here the tallest coconut palms in the United States grow in large numbers. The city is also known for being the home of former President Donald Trump.

Real estate market

As in many countries around the world, the pandemic has triggered additional growth in the US real estate market – it is now experiencing an unprecedented rise. According to the Global Property Guide, the cost of buying a home in this US country has increased by 9.2% over the past year on the back of ever-growing demand. And Florida is one of the most sought after states in America to relocate. It is an international all-season tourist destination with world-class theme parks.

Therefore, despite the economic consequences of the pandemic, the demand for housing continues to grow strongly in this part of the country: almost 330,000 people moved here during the year. And today this state occupies the third line of the national ranking in terms of population. According to experts, by 2030, 30 million people will live on its territory.

One of the most interesting cities in the Florida real estate market can be called Miami. In the 21st century, a construction boom began on its territory, the largest since the previous one, which happened in the 20s. last century. More than a hundred skyscrapers taller than 122 m have been designed and about 50 have already been built. True, in 2007 the local housing market collapsed, which led to a large number of losses of property rights and a significant decline in prices, which later recovered and by the end of 2014 exceeded pre-crisis values. At the moment, the city is home to the eight tallest skyscrapers in the state of Florida. The rapid growth of this type of construction has brought with it an increase in the population of the suburbs, mainly in Downtown, Brickell and Edgewater.

At the beginning of 2021, Miami and South Florida experienced a real estate boom again, which was influenced by the warm local climate. Snowfalls and sub-zero temperatures in other states of the country, which were not ready to deal with the outbreak of winter elements, provoked an outflow of the population to Florida. The local economy, relatively low number of COVID-19 cases, multiple telework options, stable politics, and no income tax have also played in favor of buying a home in South Florida.

According to data from Miller Samuel, Palm Beach County alone has sold 35 homes worth more than $30 million since the start of the pandemic, 20 for more than $40 million, and two totaling more than $100 million. According to Knight Frank’s forecasts, real estate in Miami will rise in price by 10% next year.

Prices

The median home value in Florida is now $380,000, up 15.2% from last year. And over the past five years, this figure has grown by 38%. A small apartment in Miami can be purchased for as low as $230,000, while premium offers in exclusive residential complexes can run into several million dollars. A three-bedroom house of about 100 sq.m near the beach is quite realistic to buy for $335,000, but you can often see offers with a cost of $2 million or more – but in this case, the area of the villa will already be about 500 sq.m, it will she has her own pier, and a pool, and 5-6 bedrooms.

Thank you for your help in preparing the material:

Lyudmila Bogatov, expert of Bogatov Realty Inc.

Source: https://www.homesoverseas.ru/eng/articles/11402

 

Source: https://www.homesoverseas.ru/eng/articles/11402