Where is the best city to invest in apartment and multi-family housing construction? According to Forbes Business, Florida has a steady supply of renters and dominates the list of where investors can get the most bang for their housing buck.
The article in Forbes goes on to say;
In second place on our list is Orlando, followed by six other cities in the Sunshine State, including Fort Lauderdale (No. 8) and Cape Coral (No. 10), West Palm Beach (No. 19), and Tampa (No. 14).
Why is Florida, of all places, dominating the list? “The Florida situation surprised me,” admits Winzer. But in light of the national economic recovery, Florida’s rise makes a lot of sense. Because it attracts retirees, second-home buyers, and investors, the Sunshine State’s housing market is subject to more volatility than other markets.
With would-be retirees and vacationers staying away during the downturn, housing prices tumbled dramatically. “Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered,” Winzer said. As retirees and vacationers return, they need services, in turn creating a steady stream of jobs, which leads to a steady supply of renters. Last year Florida added nearly a quarter-million jobs, Florida TaxWatch reports.
Many leading economists believe now is the best time to invest in multi-family housing, condominiums, and apartments. In the next couple of years, many metropolitan areas in the Southeastern areas of United States, Orlando and Atlanta, will have a higher than average growth rate in jobs, in turn it will create the need for more multi-family housing.
SWET Construction Group
While the future of multi-family housing market is prosperous, there are a few challenges such as the rising cost of building materials and availability of labor. The SWET Construction Group is a premier contractor for multi-family and hospitality industry. We are committed to quality new construction and renovations of existing buildings. We pride ourselves in client satisfaction, delivering the highest efficiency craftsmanship and unmatched expertise and value.