Fort Lauderdale, once known as the nation’s spring-break capital, is now attracting business moguls seeking waterfront footage, tax breaks, beautiful weather, and a quieter scene than Miami’s South Beach.
Prices continue to rise in the city’s luxury market, as fewer properties are offered for sale and prime waterfront lots are always in limited supply. Buyers increasingly seek turn-key properties ready for move in, anxious to avoid the hassles and uncertainty of renovation.
Fort Lauderdale is attracting new businesses relocating to Florida as well as homeowners looking for a place in the sun. “Businesses are drawn to the region for its diverse labor pool, easy access to both domestic and international markets, favorable tax climate and lifestyle,” writes Friedman.
The influx of new residents isn’t likely to end soon. Even with rising home prices, “Fort Lauderdale is a bargain compared to Miami Beach,” says one real estate executive interviewed by Friedman.