Florida is a top vacation destination and has a thriving commercial real estate market. Commercial property in Tampa is an excellent investment. The city is expanding, and with the GDP growth, the Tampa real estate market has excellent opportunities for commercial investors.
Tampa ranks third as one of the fastest-growing cities in the state and was among the top 10 real estate markets in 2020. The tax rates in Florida aren’t as high as in some other states. There’s no personal income tax in Florida which has been ranked as tax-friendly. The Tax Cuts and Jobs Act has a positive impact on commercial real estate investors in Central Florida cities.
The United States is ranked highest for Foreign Direct Investments. Foreign investors are drawn to Florida for the climate and spectacular coastal cities. Many of these investors relocate to Florida for the healthy economy. Tampa’s population is steadily growing by as much as 20 percent in the last year. Besides the economic and population growth, Florida ranks 14th for its infrastructure, according to US News & World Report statistics.
The quality of life in Florida contributes to its climate, education, and lifestyle so many residents enjoy. The climate attracts potential new residents and encourages current residents to start new businesses. Florida ranks third in the country for education. The seasonable climate and pristine beaches contribute to tourism which encourages commercial investors.
