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Should you buy property in the Sunshine State between now and 2029?
The states appeal to retirees will also contribute to this growth, keeping the market robust.
Ferro agrees that Florida home prices will likely rise steadily through 2029.
Buyers should anticipate paying more for homes, particularly in desirable neighborhoods and coastal areas, Ferro said.
Interest rates are likely to fluctuate, affecting mortgage affordability, Ferro continued.
Buyers might need to act quickly to lock in favorable rates or risk higher monthly payments.
This trend will provide more affordable housing options and promote growth inless developed regionsof the state, Claus said.
Buyers will need to consider environmental risks and invest in properties with resilient infrastructure or less vulnerable inland areas.
High demand for rental units, especially in urban centers, drives rental prices up.
The rental market in Florida will remain strong, driven byboth population growth and affordability challenges, Claus said.
Investors in rental properties can expect stable demand, particularly in cities with major universities and tourist attractions.
Ferro also believed that technology adaptation inreal estate transactionswill increase.
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