South Florida Still Hot

In a recent article in Las Olas Magazine, Donald Trump was quoted as saying the South Florida market was “excellent, amazing and I have no complaints”. He further commented that the future of South Florida real estate was “bullish” to say the least. In answer to the question of “Where is South Florida going to be in 10 years?, the dynamic developer, who has several successful projects in South Florida, noted that “Florida has the best weather of any state. The beaches are the best and the water views are beyond compare.” Recently Trump has combined with South Florida’s Jorge Perez to build and develop Trump Hollywood, a luxury all glass condominium which has over 60 per cent reserved at this time. Units are going for over $1,000 per square foot and start at $2,000,000. So much for a weak market.

A recent Inc. Magazine study showed why Florida remains and will remain at the top of job creation cycle by placing four cities in the top ten list, led by Ft. Lauderdale which came in second to Las Vegas in the large city category. Orlando was ranked third and West Palm Beach-Boca Raton came in fourth. Tampa-St. Petersburg was ninth on the survey. Jacksonville narrowly missed the top ten by ranking 11th, while Miami-Miami Beach rounded out the top twenty by coming in 18th. According to the highly respected survey Ft. Lauderdale growth was attributed to several high-tech businesses relocating there due to the low tax climate. Technology, bio-med, and health services top the list of growth industries. West Palm Beach was spurred by a 20% increase in business and professional services jobs since 2002. Also driving the increase in the region’s economy is the dramatic growth in bio-med and life-sciences with the prestigious Scripps Institute forming a nucleus for further expansion in these high paying arenas. Miami’s surging economy is enhanced by Latin American and South American trade and the area is starting to attract more and more trade with China and Europe.

Posted by Donald Urschalitz P.A. at September 1, 2006 11:16 PM