South Florida Real Estate Rise Helps Economy Grow 3.5 Percent

by Isaac Benmergui, Esq on September 18, 2013

DominoEffectSouth Florida’s economy grew by 3.5 percent due to the health of the real estate market. In a report released yesterday, real estate was the number one factor to economic growth in the area with 31 cents of every new dollar spent contributing to the booming $274 billion economy. 

This is the largest increase since 2006, and of all the economies in Florida that did well, South Florida saw the most growth.

Developers have returned cranes to the Miami skyline in a display of the confidence they feel has returned to the market. “Real estate is really the foundation for this area. It’s crucial for the recovery,’’ said Tony Villamil, a private economist and dean of the business school at St. Thomas University.

The report revealed that nearly $52 billion in real estate driven revenue was pumped in into the economies of Broward, Miami-Dade and Palm Beach, that was 8.4 percent higher than 2011.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

Previous post:

Next post: