Top Florida Cities for Real Estate Investment: Boca Raton, North Miami, Bonita Springs, and Orlando
Florida is not only known for its sunny beaches and vibrant lifestyle, but it also offers a plethora of opportunities for real estate investors looking to grow their financial portfolios. However, navigating the real estate market in the Sunshine State requires careful research and insight from professionals who understand the market dynamics.
GOBankingRates recently spoke to Florida real estate investors, developers, and experts to uncover the best cities in Florida for real estate investments. Here are some of the top picks:
1. Boca Raton:
Boca Raton is experiencing a surge in demand due to its growing walkability and the influx of residents from the Northeast post-COVID-19. Developers are responding to this demand by building new properties to cater to the upscale market. According to Victor Ballestas, principal at Integra Investments, investing in Boca Raton is a safe bet due to its established coastal community and steady growth.
2. North Miami:
The scarcity of land in Miami and South Beach has made North Miami an attractive investment opportunity. The SoLe Mia Project, developed by Turnberry and the LeFrak organization, has transformed the area into a mixed-use development with residential units, office space, retail venues, and more. Edgardo Defortuna, CEO of Fortune International Group, believes that North Miami is poised for growth and increasing property values.
3. Bonita Springs:
Bonita Springs, located on the southwest coast of Florida, is experiencing a surge in migration from the Northeast and Midwest. Mark Wilson, CEO of London Bay Development Group, describes Bonita Springs as a low-tax, low-crime, and beautiful place to live, making it an attractive investment opportunity. The city’s population growth and limited supply of housing are driving up property values.
4. Orlando:
While Orlando is famous for its theme parks, the city also offers ample opportunities for real estate investors. Robert Thorne, CEO and founder of Urban Network Capital Group, believes that Orlando is an underrated city for investment, with developers capitalizing on the city’s thriving tourism industry and job market. Home values in Orlando are projected to continue to rise, making it a promising investment destination.
Overall, Florida’s real estate market offers a diverse range of opportunities for investors looking to maximize their returns. By carefully researching the market and seeking advice from industry professionals, investors can capitalize on the growth potential of these top Florida cities.