The Miami real estate is booming. Everybody can recognize that. But just some 30km north of the city, is Fort Lauderdale, another upcoming real estate market. Many investors are considering the Fort Lauderdale real estate market as it shows a great potential now and in the coming years. The statistics have it that what’s trending is not vague but the real truth. Even the experts will tell that the city has what it takes to be number one.
Why Fort Lauderdale?
One may wonder why Fort Lauderdale, a city often considered only for vacation purposes. Well, here is the thing. Demographic statistics back the city. It is observed that people in the Fort Lauderdale are dedicating more of their incomes on housing and mortgages. That’s one tick. The other is the economic backing. In general terms, the economy of the city is doing just fine. Even if the unemployment rate is way below the other cities in the US, it is showing great improvement lowering with time. It is expected that the city will be in the league of other big cities very soon.
New influx of residents
Initially, the city was just a small town. Perhaps that’s when investors were busy making Miami what it is. Nowadays, the population has recorded a high rise indicating that not only has the local people increased but there are those who chose Fort Lauderdale as their destination to own their vacation home or investment property. More people are continuing to flow into the city.
All types of real estate
In most cities, the real estate has almost reached climax and the market is stabilizing. In Fort Lauderdale though, it’s just getting started. Whether its land deals for development, residential or commercial properties, investors are still finding a great opportunities here. The investors are much interested in such a growing market rather than where properties are super expensive like Miami or New York.
We cannot conclude that Fort Lauderdale real estate has more potential than Miami real estate as these two are competing in different levels. Miami luxury properties though are more expensive that the ones in Fort Lauderdale. So if one is looking for a luxury waterfront home in Miami at a more affordable price Fort Lauderdale would be a great place to look at..
Also the best markets for luxury waterfront condos are Sunny Isles condos for sale, Miami Beach condos for sale, South Beach condos for sale, Bal Harbour condos for sale, Fisher Island condos for sale.