South Florida is booming, making it a great time for investors. The Multi-Family Housing and Hospitality sectors are in high demand with significant growth outpacing new construction.
The multifamily housing sector in Fort Lauderdale is proving to be very favorable for investors. With historic demands, elevated occupancy levels, and rent levels reaching record highs, in the tri-county area. As well as the population growth, which is expected to grow almost 10% in the next 5 years.
“Fort Lauderdale is booming with development. It’s become a city of choice for savvy investors, both commercial and residential. Once known as the mecca for spring break and teenage beach movies — think Where The Boys Are with Connie Frances and Girl Happy starring Elvis Presley — Fort Lauderdale has grown up.” According to a recent article in Forbes, ‘Fort Lauderdale is Booming: Here’s Why’.
Hospitality In Fort Lauderdale
The demand for hospitality developments in Fort Lauderdale is very high. It has become known as the Key Gateway Market, because of the strong connection between the United States and Latin America. Until the recent wave of development, there has been just two hotels downtown. Emerging hospitality, construction consists of mixed use hotels, upscale boutiques, luxury and economy developments. The high demand is fueled by the booming tourism industry, residential growth, and new businesses moving to the area.
In fact Broward county ranked number 2 in the Hospitality Marked in the United States. This was based on the growth in transaction volume year over year at 418.2%, the largest percent increase.
SWET Construction Group has a successful track record of developing premium independent and branded multifamily housing. From renovations of existing properties to new development, we offer a blend of development services to enhance the value and maximize your return for your project.
Contact SWET Construction Group for your next project in Southeastern U.S.