Foreign Buyers Are Now More Drawn To Retail Properties On The Fort Lauderdale Real Estate Market
Foreign buyers are among the biggest influences that have made the South Florida real estate recovery possible. Nowadays, we are seeing foreign buyers looking into various sectors of the property market such as the retail sector where hundreds and thousands of investors are given the opportunity to launch and/or expand into areas which have been proven to be ideal for different types of businesses.
One of the areas within South Florida that has been such a prime location for foreign buyers is the city of Fort Lauderdale which has seen a recent increase in the flow of foreign capital, particularly in the retail sector of the city’s property market.
The retail commercial sector of the Fort Lauderdale real estate market has revealed significant improvements with a 110-basis-point drop in vacancy in 2011 and a 70-basis-drop to 9.6 percent in 2012.
Asking rental rates are projected to increase by as much as 0.9 percent to $18.20 per square feet in the remaining months of 2012.
Fort Lauderdale is a fascinating city located within Broward County in South Florida. Over the years, the city has become a popular tourist destination that has been known to attract millions of visitors each year, many of whom are looking to experience the exceptional quality of living within a city that has often been referred to as the Venice of America due to its expansive canal system which runs throughout the city.
Aside from its canal system, the city is also a major yachting center which attracts so many boating enthusiasts who seek an ideal location that offers marinas and boatyards as well as numerous events and activities to look forward to through the year.
Many property buyers and investors have come to realize that there is great potential for profit within the Fort Lauderdale real estate market which is why more and more people are looking into their available opportunities on today’s property market.
If you would like to find out more information regarding the different types of real estate options that are currently being offered on the Fort Lauderdale real estate market, you are welcome to contact our team of professional agents for assistance.