South Florida Real Estate Market November 2021

South Florida Real Estate Market November 2021 | Commercial and Residential Markets Forecast 2022
Florida and particularly the South Florida real estate market has been among the strongest, with continually solid returns and safety for the capital of international & domestic investors. US News & World Report currently ranks Florida #8 in fiscal stability and #10 with its economy nationwide. Consistently strong population growth, tax-friendly laws, continual return of visitors worldwide, innovative development projects, with job growth three times that of the entire nation, superb infrastructure, attractive real estate residential and commercial properties, and being a top travel destination for national and international travelers, are some of the contributing factors. With direct transportation access by land, air, and sea, it’s also a central hub for all international business.
➡Florida’s Competitive Workforce: Florida not only has the 3rd largest workforce in the United States but its highly competitive workforce is among the top nationally and globally. Florida ranks #1 in the country for innovation and #5 nationwide for high-tech employment.
➡Growth in the Florida Retail Market: Florida is home to over 270,000 retail stores, with the retail market accounting for approximately one in five jobs. Retail growth in Miami and South Florida has been explosive in recent years. The sunshine state’s lack of a lockdown, attractive housing options, and a rise in remote working conditions are some of the factors that draw people into the state. Experts believe Florida is poised for continued growth well after the pandemic. Steadily increasing tourism (Florida ranks #2 of all US States) also provides a solid foundation for capital to flow into the region’s retail market.
➡Business Incentives: Florida is attractive to businesses for many reasons, to mention a few: no state income tax, personal income tax, inheritance tax, or estate tax. Florida ranks #2 for business, #1 tax climate in the southeast and Kiplinger ranks it #4 in the nation. Florida has five of the top 10 markets in the country with the strongest commercial markets, including office, retail, apartment, industrial, hotel sectors and 20% of US export businesses are located here.
➡Florida is a top choice for retirement, ranking 5th most tax-friendly state for retirement. Cost of living, tax breaks, average income, amenity rich infrastructure and gentle climate, help illustrate why Florida is a perennial favorite for business, personal finance and retirement.
➡Foreign Investment the US is #1 in Foreign Direct Investment (FDI) worldwide, Florida ranks fourth among the top ten US states receiving FDI with one in five jobs stemming from it, and over 30% higher pay above the state average wage.
Forecast remains positive for Florida and specifically, South Florida as commercial real estate continues to be increasingly lucrative with solid, well-performing investments for domestic and global investors. Florida is expected to continue positioning itself as a desirable, business-friendly destination even more as high-tax states such as California and New York continue increasing taxes and regulations.

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