Residential Trends Summary
- Largest Population Immigration starting with “Baby Boomer” (people turning 65 years of age in next 18 years) moving to Florida after retirement.
- New Construction House permits up 107% over same period last year. Expected to double in next 3-5 years.
- Highest number of units in New Construction is in $225,000 to $300,000 price range. Next highest units in $3,000,000 price range
- Rental rates increase due to large number of foreclosures, corporations moving facilities to SW Florida and again, Baby Boomer migration.
- Multi-family units are being constructed as apartments with platting in place to convert to condos in 16 to 18 months.
Commercial Trends Summary
- Average age of the population is increasing and medical needs are twice as high as current residents. Need for Independent Living Facilities, Assisted Living Facilities (ALF) and Medical plazas.
- Self Storage units are needed as retirees migrate to SW Florida downsizing their living space but still owning furniture from larger living spaces up North.
- International Developers are Land Banking preparing for exponential population growth.
- National companies are being courted to Florida by Economic Development Offices along SW coast with tax and building incentives.
- Lee County has 4 Trade Free Zones in place for businesses importing and exporting to International countries.
- Veterans Investing Zone attracting medical facilities, shopping plazas, family attractions, hotels and restaurants.
- Increase in need for small retail and condo/warehouse units as “Cottage” Industries grow with new Entrepreneurial incentives and need to move out of garages as business is growing. This trend is also a result of the “Baby Boomer” migration.
- Growth in need for Office space as companies are growing again after tremendous downsizing suffered during economic downturns. Unique open office spaces and executive suites are also growing.
- Commercial Owners are turning to Lease-Back Sales of their properties.
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC