The pandemic and resulting shift to remote work has helped to spur a migration of winter-worn northern residents and businesses to sunny, tax-friendly Florida. According to the Florida Realtor’s Association, February’s existing single-family home sales were up more than 15 percent from 2020, while sales of condo-townhouses increased more than 28 percent over the same period last year.
This population growth also bodes well for the state’s commercial real estate market, which is seeing an uptick in activity to pre-pandemic levels. In fact, the number of companies that have relocated and expanded in South Florida alone over the past year is unprecedented. Moreover, with many of the state’s newest residents coming from more expensive cities, more disposable income can be spent on retail, restaurants and service providers.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email email@example.com.