The Miami Real Estate Market Continues To Pave A New Way For Real Estate Advancements In Florida
When it comes to real estate advancements in all of the Sunshine State, the Magic City or more known as Miami is always taking a foot down before any city in Florida. Thanks to the recent success in the real estate market of Miami, the Florida commercial real estate market is now looking forward to a slow and consistent recovery on real estate properties.
Ever since 2010, when foreign buyers and investors have taken a huge interest in the inventory of several properties all over the United States, Miami was one of the top picks of these investors and buyers due to the very affordable home and condo property options that can be found, If this continues to happen, it is expected that the real estate market of Florida will fully get its former glory back in 5 years, maximum.
According to Mary Jo Eaton, a senior managing director of CBRE, Florida – in five years’ time the Sunshine State, not only Miami, will get to experience a steady rise in the real estate economy as long as there are continued home and condo property sales taking place on all regions of Florida.
In Southwest Florida and Jacksonville, the lease renewals are currently taking over the market as we speak as more and more renewals are taking place in the core regions of Florida. Thanks to countless real estate rentals being leased by a lot of people today – expect stabilization to come earlier than the proposed estimation.
Although not all parts of Florida are blossoming in terms of real estate advancements like places in Central and North Florida, the overall stabilization in the Florida market has never felt so light in a span of 10 years.