The Trump Effect on Florida Real Estate
Don’t worry this blog has nothing to do with politics! It has everything to do with Florida real estate (both commercial and residential) and the effect that the new president is having on it. Right now President Trump is meeting with President Xi of China at Mar A Lago in Palm Beach Florida. They are having a 2 day visit/meeting which will be heavily televised and covered by the national and international media. Additionally, it seems like every weekend that he has been president Trump has traveled to Palm Beach to stay at Mar A Lago. So what does this mean for real estate here and other businesses as well? It raises the profile of the area and even the state a lot. With the constant media attention the area is being seen and talked about nationally and internationally, especially now with the visit of President Xi. While there has always been interest in Florida real estate by foreigners, this recent activity has raised the bar considerably. China, along with the rest of the world, sees the images of our palm trees, sunshine, ocean and this makes Florida all the more valuable. That is translating to more homes bought, more commercial properties bought, more EB 5 visa projects (which are 85% Chinese), and more national and international companies moving here. When they do they require offices, in some cases warehouses or stores, and they also need a place to live. The state and counties benefit from the increase in taxes as a result. The media attention Florida is getting will drive more students to seek educational opportunities here and also more people to move here permanently. All of this greatly benefits Florida’s economy and perpetuates our status as a premier American tourism destination. That reputation was once largely relegated to Miami but has now fully spread to Broward and Palm Beach Counties as well. Now with Trump as president, Palm Beach County is getting unprecedented attention. Yes regardless of how you feel about him President Trump has had a very positive effect on real estate in Florida. That will continue as long as he keeps visiting Mar A Lago and thus keeping Florida in the media spotlight. What do you think? I would love to hear your thoughts. As always thanks for reading and have a great day.
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