South Florida is a perennially attractive real estate hub. From rising residential towers to splendid residences along the Intracoastal Waterway, the area has plenty to offer. One city, however, seems to stand out above the rest as the hottest location to invest, sell or buy. It is Fort Lauderdale, a coveted beach locale for decades that is only getting trendier. PWC’s 2017 Emerging Trends in Real Estate report, for instance, ranks the city among the most desirable investment destination in the country.
“Fort Lauderdale is growing at a rapid rate,” said Caryn Botknecht, an esteemed realtor and broker in the area. “New companies have settled in Fort Lauderdale over the past year bringing lots of new job opportunities with them.”
Part of the city’s appeal stems from the revocation of the unwritten, long-standing tenet not to build new construction on the beach as well as from recent transportation enhancements like the Brightline Train, which connect Fort Lauderdale and West Palm Beach. Two additional lines – to Orlando and Miami – are expected to soon open as well.
These new developments coalesce with long sought-after local characteristics – think a prime waterfront destination that encourages the sprawl of new neighborhoods – to attract not only investors but also millennials.
“There are a number of millennials that have come to Fort Lauderdale for job opportunities or to live in one of the most gorgeous and fun places with the best weather,” said Botknecht. “A number of them are renting at the moment but should turn into buyers within the next few years.”
As more and more home-seekers and investors are moving in the expanding real estate market in Fort Lauderdale, price levels and sales volumes are still readjusting to the new reality of spiked demand, which appears unlikely to slow down, Botknecht said.
“Fort Lauderdale is a hot place to live right now and for the foreseeable future,” she said.