For Latin Americans interested in investing in the real estate market in Miami, Orlando and South Florida, this is encouraging news. Miami Report of Q4-2023, a report specialized in real estate published by the firm ISG World, during each day of the past year an average of 1,000 new inhabitants arrived interested in live in Florida, thereby increasing the demand for properties in this state.
Florida was the second state with the highest daily population increase in the United States, only after Texas, which received an average of 1,297 people, and well above the third on that list, North Carolina, which registered 384 new residents in the same period.
Overall, the southern United States, including Florida, was the region that grew the most in population in 2023, with 1,423,260 new inhabitants, in contrast to the northeast, which showed a decrease of 43,440 people.
Why live in Florida?
There are many reasons why more and more people want to live in Florida and, in particular, in Miami, Orlando and the south of this state.
Warm weather much of the year
The Temperatures in Florida They register an average of 28° C for much of the year, which makes it an ideal region to live, enjoy a holiday period or have a second home in case the main home is located in sectors with very extreme climatic variations.
Quality of life
Some of Florida’s major cities have been highlighted in various reports and studies for their quality of life and balance between nature and urban.
Living in Florida: Multiculturalism
The presence of a large number of communities from different countries, including Latin American ones, means that in Florida there is a very marked crossroads of cultures that makes it possible to meet. This gives you the possibility to enjoy a wide variety of expressions of all kinds, from gastronomy to art, music and many others.
Tourist Attractions & Parks
It is no secret that in Florida, especially in Miami and Orlando, there is a wide and varied offer of parks and tourist attractions that attract millions of tourists from all over the world every year.
Economic and financial centre
Florida, and especially Miami, has become a great economic and financial center, in which a large number of companies and corporations have been established, thus allowing the generation of employment and commercial connections between them.
Growing availability of properties to live in Florida
The Miami Report for Q4-2023 also noted that the availability of available properties for investment in Miami-Dade, Broward and Palm Beach counties grew compared to records in the same period in 2022.
According to the publication, the availability of single-family homes closed 2023 at 10,820 units, up from 10,781 a year ago. In addition, prices in this segment rose by 19%: from USD 1,022,000 to USD 1,221,000 in the same period.
Similarly, the number of condominiums available in these same counties rose from 11,947 in 2022 to 16,684 in 2023, showing that the supply of properties to invest and live in Florida continues to increase. Prices in this segment of the real estate market also rose by 22% from $656,000 to $802,000.
If these reports motivate you to invest in Miami, Orlando and South Florida, contact us and learn about our offer of available properties so that you can choose your best option.
References
- Infobae (2024). Three Florida cities among the best to live in the United States.