Florida’s Booming Real Estate Market
Few real estate markets are booming across the world thanks to the economic consequences of this pandemic, but one of the few that are in the sunny state of Florida. The state synonymous with beaches, attractions, and an incredibly diverse population has seen tremendous demand in recent months when it comes to property.
Here at US Prime Realty, we’ve seen an incredible amount of activity in the market, with people moving in left, right, and center to take advantage of all that Florida has to offer. All this demand leads to one thing – it pushes property prices up and up.
As we sit here today, it is a seller’s market. With so much demand, property owners in Florida have been able to crystallize the value in their property and earn substantial returns on their initial investments. It’s a great time to be selling property in the area.
The Impact of Having no State Taxes
Of course, people are moving because of the weather, attractions, and the quality of life – but you cannot deny the impact of tax incentives for drawing people into the state. Taxes are one of those things that do inform the decisions of ordinary citizens, and we’ve seen some serious tax hikes across the rest of the country over the past few years – across state and federal levels.
Florida, on the other hand, has stuck to its guns and does not charge citizens any state taxes whatsoever. This is an incredibly competitive advantage for drawing people in, and it’s one of the main contributors to why the state has seen such an influx in recent times.
The lack of state taxes means that people have more disposable income to care for their families, support local businesses, and craft a wonderful quality of life for themselves without breaking the bank.
Now is the Opportunity
If you’re a property owner in Florida right now, you should be keeping a keen eye on the market because you may never get a better chance to sell at these inflated prices.
The perfect storm of tax incentives, the COVID-19 pandemic, re-aligned priorities in terms of remote work, and some other factors have made Florida one of the most sought-after places in the USA.
Everyone always talks about timing the real estate market and how it’s a bit of an art as well as a science. Well, this time, it’s clear as day.
We haven’t seen a seller’s market like this in a long time, and it’s an opportunity that you should take seriously.
At US Prime Realty, we are helping clients every day sell their property in Florida, and you could join them.
If you’re looking to make some money off the table and enjoy the rewards of an unprecedented demand in the area, then chat to us today – we’d love to help out. We have offices in Miami, Fort Myers, and Naples and can’t wait to work with you!
Get in touch today!