REAL ESTATE NEWS — Tampa Bay is on the Top 10 list for real estate investors nationwide (October 10, 2018)
Tampa Bay has been named “one of the nation’s top 10 markets for real estate investors” based on a recent article posted on tampabay.com. Big-time investors are ready to invest “millions into warehouses, office buildings, industrial space and shopping centers”.”The investment prospects are across all types of properties,” said Mitch Roschelle, a partner at PwC US and co-author of Emerging Trends in Real Estate 2019. “What Tampa (Bay) has in common with the other top 10 cities is that its employment base is growing, its population is growing and the result is an engine for continued economic prosperity.”
Mitch Roschelle notes that Tampa Bay has affordable housing prices: median home price is about $227,000 compared to $262,000 nationally. The US has a 3.7% unemployment rate which makes job seekers search for affordable ways to make ends meet. Tampa Bay is an attractive option with a population increasing around 1.3% a year (almost two times the national rate). Tampa Bay is also the No. 2 spot for home building. Rochelle points out: “one downside of continued growth is traffic congestion, which could become an even bigger headache in the Tampa Bay area with no rapid transit options in the foreseeable future. Roschelle notes that traffic between Fort Lauderdale and Miami is so “horrendous” that more people are choosing to work in their home county rather than commute.”
The top 10 markets for real estate investors in 2019 based on the tampabay.com article are:
1. Dallas/Fort Worth
2. Brooklyn, N.Y.
3. Raleigh-Durham, N.C.
9. Charlotte, N.C.
10. Tampa Bay
Emerging Trends in Real Estate 2019
Image Source: epa.gov