If you’re thinking of investing in a property within the luxury real estate housing market in Florida, now is a perfect time. Each day, the state’s population grows by around 1,000 new people. Here are a few reasons why luxury homes in Florida make great real estate investment properties for 2020.
Luxury Home Prices
Economic uncertainties and fear of a housing market crash in 2019 led real estate investors to lay low. However, high-end homes offered by real estate agencies such as Henri Frank Group at one Sothebys in Fort Lauderdale are turning into bargain territory. The strength of the U.S. economy is opening up new buying opportunities for luxury waterfront homes for sale in Florida. The available inventory for waterfront homes is much greater than the number of entry-level homes, which creates numerous opportunities for real estate investors.
Luxury Housing Market Activity
Because there are so many opportunities available in the luxury housing market, market activity is expected to vastly increase. This means that buyers will have an upper hand when negotiating with sellers and have greater purchasing power. Millennial millionaires are helping to boost the luxury real estate market this year and looking to real estate agencies similar to Henri Frank Group at one Sothebys in Fort Lauderdale to meet their needs. These buyers are around 34 to 37 years old and have a net worth between one to three million dollars. The 15% who are business owners have a strong interest in buying a home in Florida where their business is located.
Condos for sale on the waterfront are expected to make a big comeback this year. Because Florida doesn’t have an income tax, it’s highly attractive for buyers and investors that currently live in high tax states. If you need expert assistance in what houses for sale to invest in, contact real estate agencies such as Henri Frank Group at one Sothebys in Fort Lauderdale to get the help you need.
If you want to break into the luxury real estate market, 2020 is a great year to make that move. What you’ll be able to invest in will highly depend on your current financial position and investment properties that are available. However, you can still get a great return on your investment if you do your due diligence. Whether you’re buying, selling, or leasing, we can assist you every step of the way. Contact us today for your luxury real estate needs!