Even though South Florida was one of the hardest hit real estate markets, it’s now the most improved. According to a January report from ZipRealty, a California brokerage firm, Palm Beach County’s median home price hit $169,000 in December, marking a 35% increase for the year.
Neighboring Broward County’s median price was recorded at $127,000, a 21% jump that ranked ninth nationwide. Miami ranked 10th in improvement, alongside Sacramento.
Homes in South Florida lost about half their market value in the housing bust, leaving many in upside down mortgages and others in foreclosure. The market bounced back in a big way though, leaving investors, buyers and all businesses with a sigh of relief.
Strong demand by investors, a shortage of homes for sale and rising rental prices contributed to the successful recovery, according to real estate brokers. Distressed homes drew many investors into the market, as lenders were paying owners to go through with short sales in order to leave the properties in good condition.
According to Joseph Pucillo, a vice president at ZipRealty, “Investors are paying $250,000 for homes that would have cost $400,000 a few years ago. It’s valued very attractively right now. It just makes sense to go there.”
Last December, the average home price was reportedly $125,000.
As the market continues to recover, the available homes for purchase continues to decline – meaning prices will only rise.
Many investors are coming to the area through the EB-5 Regional Center, U.S. Immigration Fund. It’s Florida division, Florida Regional Center, has begun construction on several South Florida developments. Projects include Via Mizner Golf and Country Club, in Boca Raton; Harbourside Place, Water Pointe, and ESI Jupiter Technology, in Jupiter, Florida. These projects are bringing jobs, and will continue to do so, increased market value to its surrounding region and stability for investors.
ZipRealty公司副总裁 Joseph Pucillo表示，“投资者现在只要25万美元即可买到几年前原本需要40万美金的房子。现在很吸引人和抢手。现在入手是绝佳时机。”
随着市场不断恢复，可供购买的住宅将继续下降 – 这意味着价格将只涨不跌
许多投资者通过美国移民基金EB-5区域中心来到这里。佛罗里达区域中心已开始在南佛罗里达州发展建设。项目包括了Via Mizner 高尔夫度假村、Harbourside Place、Water Pointe、朱庇特ESI科技园等。这些项目为创造就业、促进周边经济发展以及投资稳定做出了大量贡献。